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Entering 2026 amid significant volatility in global raw material and logistics markets, DAP No. 2 – Vinachem Joint Stock Company has still recorded a highly positive first quarter, with most production and business indicators exceeding planned targets.

Production Accelerates, Sales Closely Follow Market Demand

In Q1 2026, DAP output is estimated at approximately 70,250 tons, exceeding the quarterly plan by 6% and fulfilling 28% of the annual target. Compared to the same period in 2025, this represents a sharp increase of 48%, indicating a clear recovery and acceleration. In the first two months alone, output reached 47,250 tons, laying a solid foundation for the quarter’s overall performance.

Intermediate products also maintained stable production levels, with nearly 29,400 tons of WPA and over 67,600 tons of H₂SO₄.

On the sales side, DAP consumption is estimated at 73,168 tons, exceeding the quarterly plan by 11% and increasing 27% year-on-year. Notably, the domestic market continued to serve as the main driver, with consumption surpassing 71,000 tons, far above the target. Meanwhile, exports remained modest at just under 1,900 tons, reflecting ongoing challenges in the global market.

Revenue and Profit Surpass Expectations

Industrial production value in Q1 is estimated at over VND 1,213 billion, equivalent to 113% of the quarterly plan and 148% compared to the same period in 2025. Net revenue reached approximately VND 1,237 billion, also exceeding the quarterly target by 13%.

The most notable highlight is profit, which is estimated at over VND 51 billion—more than five times the quarterly target and already achieving about 42% of the full-year goal. This result demonstrates a significant improvement in business efficiency despite continued pressure from input costs.

Q2 Targets: Maintaining Growth Momentum

For Q2, the company plans to maintain DAP output at around 69,000 tons, along with approximately 30,600 tons of WPA and 85,500 tons of H₂SO₄.

Financially, the company targets revenue of nearly VND 1,249 billion, with expected profit exceeding VND 38 billion. These targets are considered relatively cautious given the uncertain market outlook.

Proactive Adaptation to Sustain Market Position

In response to current challenges, the company is focusing on technical solutions to optimize operations, particularly through technological improvements that enable flexible processing of various ore types, reduce consumption, and enhance product quality. Efforts to ensure production safety and improve gypsum waste storage capacity are also being prioritized.

From a market perspective, the company closely monitors fluctuations in oil and raw material prices to adjust its plans accordingly, while continuing to maintain its domestic market share—the key pillar of its business. At the same time, it is actively seeking new export partners in regions less affected by geopolitical disruptions.

Overall, Q1 2026 can be seen as a strong and encouraging start for DAP No. 2 – Vinachem. However, future performance will largely depend on fluctuations in global raw material and logistics markets—factors beyond the company’s control, yet requiring flexible adaptation to sustain growth momentum.