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PVN recently engaged with gas-field operators to accelerate development of the Nam Du–U Minh, Khanh My–Dam Doi fields to supplement gas supply for the Ca Mau gas–electric–fertilizer complex in the Southwest region. The new fields are expected to start delivering gas in the 2028–2030 period. PVN also plans to route a gas line from Block B to O Mon to Ca Mau. Therefore, going forward, gas supply to the Ca Mau gas–electric–fertilizer complex, including the Ca Mau fertilizer plant, remains secured. In the long term, Mr. Van Tien Thanh said, gas fields cannot be exploited indefinitely, so the gas supply to sustain DCM's operations must be planned with multiple long-term options, potentially including LNG gas. During the AGM, Mr. Bui Minh Tien, a member of PVN's Board, affirmed that the group has various measures to ensure gas supply not only for the Ca Mau fertilizer plant but also for the Ca Mau gas–electric–fertilizer complex, with potential for expansion in the future. Regarding the impact of higher gas and fertilizer prices due to the Middle East conflict, Mr. Thanh noted that by late 2025 the corporation built a scenario for 2026 with oil prices around $70 per barrel, but at times prices spiked to $120 as the conflict intensified. However, supply from other sources and releases from stockpiles by other countries, including China, helped ease shortages. On fertilizers, the Middle East accounts for about 20% of supply, particularly urea; as conflicts escalated, fertilizer prices rose. Before the conflict, URE was around $450–$500 per ton; now it's around $900 per ton. Other fertilizers also rose (DAP +50%, Potash +40%, NPK up sharply). Regarding domestic fertilizer supply, Thanh said Vietnam currently has four URE plants with a total capacity of 2.6 million tons/year, while demand is about 1.8–2 million tons, leaving a surplus for export. 'The domestic season hasn't arrived yet, so we export more to take advantage of high global fertilizer prices,' Thanh said, adding that the company has measures to prevent domestic distributors from hoarding, as prices could ease if the Middle East conflict ends soon. In 2025, DCM achieved consolidated revenue of over VND 17,032 billion, up 7% above the annual plan and 21% year-on-year. The parent company revenue totaled over VND 15,898 billion. Pre-tax profit for the group was over VND 2,207 billion (after tax VND 1,961 billion), up 37% from the plan and 45% from 2024. The parent company's pre-tax profit reached over VND 2,229 billion. For 2026, DCM targets consolidated revenue over VND 17,600 billion and pretax profit of VND 1,320 billion (after tax VND 1,182 billion). The parent company is expected to achieve revenue over VND 16,117 billion and pretax profit of VND 1,300 billion (after tax VND 1,173 billion).
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
