Factsheet with basic information about fertilizer industry in Vietnam

1. 5. KEY FEATURES
2. MARKET SIZE
1. MARKET SEGMENTATION
Source: StoxPlus
13.3%
1.1% 1.0%
4.2% 4.0%
0,0%
2,0%
4,0%
6,0%
8,0%
10,0%
12,0%
14,0%
0
2000
4000
6000
8000
10000
12000
2010 2011 2012 2013 2014 2015
1000MT
Market size Growth Rate
Fertilizer
Market
Single
nutrient
fertilizer
Potassium
SA
Urea
DAP
Multi nutrient
fertilizer
NPK
Organic
fertilizer
Total fertilizer consumption reached approximately 10.8 million tons in 2014 with the growth rate of 4.2%.
Main findings from our interviews with industry experts and sector analysts are concerned with the over-surplus
situation of the market, as well as lowering prices due to the pervasion of cheap smuggled fertilizer from China.
Since 2012, consumption of NPK in Vietnam has occupied the largest share of total fertilizer consumption in
Vietnam market (more or less 37% of total fertilizer consumption at all types).
From a country that has to import fertilizer, Vietnam has been able to supply domestic consumption of ferti-
lizers: By establishing new factories and expanding current scale production, there is a significant increase in
fertilizer production from approximately VND 5,370 thousand tons in 2009 to over 9 thousand tons in 2014.
Meanwhile, total imported fertilizer is in a downward trend leading to a supply surplus for Urea, phosphate and
NPK. However, SA and potassium still depend on imports entirely.
Distribution system for fertilizer in Vietnam is very fragmented and regional-based: Fertilizer is distributed
through a complicated and overlapping distribution system consisting of 4 major groups of players (fertilizer
manufacturers, trading companies, distributors, and agents level 1,2 and 3). No players have a distribution
network by themselves. Rather, they connect with different agents to distribute fertilizer products.
Source: StoxPlus
Market sizing by total consumption, 2010 – 2015F
4. KEY FINANCIALS OF TOP 10 PLAYERS
(listed companies only)
Vinachem
50%
Baconco
5%Fivestar
8%
Can Tho
fertilizer &
Chemical JSC
5%
General
materials
biochemical
Fertilizer JSC
9%
Song Gianh
Corporation
8%
Quang Binh
Agricultural
Corporation
2%
Apromaco
4%
JVF
9%
3. MARKET SHARE
Source: StoxPlus
consolidated
Market share of NPK Fertilizer sector by capacity of
local manufacturers, as of 31/12/2014(thousand MT/year)
Company
Total assets
(US$ million)
Net Revenue
(US$ million)
EBITDA
(US$ million)
ROA ROE
Phu My Fertilizer 472.37 446.10 72.71 10.48% 12.09%
Petrolimex Petrochemical 167.17 318.06 19.85 8.08% 23.90%
Binh Dien Fertilizer 139.50 297.93 23.52 7.77% 30.33%
PetroVietnam Camau Fertilizer 772.89 282.37 118.45 5.32% 18.23%
Lam Thao Fertilizers 123.81 232.89 31.21 16.15% 30.25%
SouthEast PVFC 12.72 131.81 2.08 9.63% 18.34%
Quang Binh Import And Export 72.89 124.04 4.63 6.48% 25.39%
Petro Viet Nam Fertilizer and Chemical
Southern West
12.55 119.05 2.12 12.68% 14.94%
Central Petrovietnam Fertilizer and Chemicals 12.49 109.69 2.78 16.90% 27.55%
The Southern Fertilizer 73.75 104.55 9.36 5.59% 17.15%
Source: StoxPlus
If you want to have further information, please contact person below:
Research
Ms. Lan Nguyen
Senior Manager
lan.nguyen@stoxplus.com
+84(4) 35626962 (ext.109)
Business Information
Ms. Hue Vuong
Managing Director
hue.vuong@stoxplus.com
+84(8) 38233485 (ext.802)
Financial Information
Ms.Trang Truong
Managing Director
trang.truong@stoxplus.com
+84(4) 35626962 (ext.114)
Research Business Information Financial InformationResearch Business Information Financial Information
Fertilizer
FACT SHEET
Dated September 25th 2015