The Petrolimex Chemical Corporation (PLC) held its Annual General Meeting on April 18, 2025, aiming for a profit plan of 140 billion VND before tax for 2025, doubling the 2024 figure. 2024 revenue was 6,932 billion VND, a 13% decrease year-on-year. The minimum dividend ratio is set at 12%.
In 2024, PLC recorded a production of 230,000 tons of asphalt, maintaining a market share of about 28-30%. The profit fell due to increased competition and a decrease in demand and prices. The lubricants segment also reported sales growth through external channels, while the chemicals sector faced challenges with declining prices.
The company hopes for a revival starting in early 2025 with strategies to enhance business operations and increase market presence. The Chairman emphasized that 2024 was the toughest year and expressed optimism for a new, sustainable direction in 2025.
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