A recent report from KB Securities (KBSV) indicates that Đức Giang Chemicals (DGC) expects 2025 revenue to reach VND 11,333 billion, a 15% increase driven by the recovery in demand for phosphorus chemicals. 66% of revenue comes from Mitsubishi, with anticipated increases in phosphorus gold and food-grade phosphoric acid output by 11-14%. The average price of phosphorus gold is also projected to rise due to improved demand. In the short term, gross profit margins may decline due to rising input costs, but recovery is expected with the operation of Mine 25. KBSV also expects revenue from fertilizers to improve due to China’s export restrictions. DGC has begun construction on the Đức Giang – Nghi Sơn plant, with a partnership of 40% of the output with PVChem. This project is slated to start by Q1 2026, expecting revenue from VND 1,200 to 1,600 billion. DGC is also pursuing bauxite projects in Đắk Nông and hopes to expedite legal processes for construction.
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