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This morning, April 23, 2026, the 2026 annual general meeting of shareholders of PetroVietnam Fertilizers and Chemicals Corporation (PVFCCo) – Phu My (ticker DPM) was held successfully. Shareholders reviewed business results for Q1 2026 and approved the company’s 2026 operating plan and governance updates.
Despite adverse market conditions, higher raw material costs, and intense international price competition, DPM reported favorable performance in Q1 2026. The company said production and sales volumes of fertilizer and chemical products were well ahead of plan.
For 2026, DPM set a target for consolidated revenue of 17,600 billion VND and reaffirmed its leading position in fertilizers while gradually expanding into chemicals. The company expects pre-tax profit of 850 billion VND, reflecting a cautious but flexible approach in a still-volatile market.
DPM also plans to maintain a dividend payout rate of 12% of charter capital.
To implement the plan, DPM will continue to focus on fertilizer production and trading as the core business. The company targets production of more than 900 thousand tons of Phu My Urea and about 180 thousand tons of Phu My NPK, along with other fertilizer products.
The company said it will align operations flexibly with market conditions, optimize its distribution system, and boost both domestic and export sales.
For new products, DPM plans to promote development and commercialization of higher value-added chemical product lines and expand high-quality fertilizer offerings, including green products such as organic products and beneficial microbes, to meet sustainable agriculture trends and evolving customer demand.
Shareholders identified investment and development as a key highlight for 2026. DPM expects total capital expenditure (capex) of 1,164.3 billion VND, aimed at accelerating new chemical projects, particularly the H2O2 (hydrogen peroxide) project.
The company also plans to continue researching new products and applying science, technology, and innovation to increase the value of existing products.
Regarding personnel and governance, shareholders elected two new members to the Board of Directors, including one independent member, and appointed new Supervisory Board members to meet legal and international governance requirements.
In the discussion, shareholders focused on forecasts and solutions for Phú Mỹ in light of the Middle East conflict, domestic and global fertilizer market prospects, price and supply conditions, and freight rates for gas feedstock amid geopolitical developments. They also discussed the business strategy for the next five years and development of new DAP Phú Mỹ.
PVN leadership urged DPM to prioritize key tasks to successfully implement the 2026 plan, including ensuring safe and stable plant operations, accelerating new project progress, and promoting innovation and product development toward environmentally friendly, green products and other chemical-sector products. PVN also emphasized continued attention to workers’ rights.
As a major shareholder, Petrovietnam said it will continue supporting DPM’s sustainable development, including ensuring stable gas supply for production. The group leadership expressed hope that shareholders will continue to cooperate closely to help DPM achieve the 2026 plan and sustain growth in subsequent years.
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