Binh Dien Fertilizer

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After posting positive results in 2021, BFC announced Q1 22 earnings with growth of 46.8% and 19.3% in net revenue and NPATMI, respectively. However, revenue growth came from a higher ASP while sales volume fell 15.1% in Q1 22. BFC maintained huge in...

The Ministry of Finance has proposed a draft of the amendment to Tax Law No. The draft is going to be discussed and ratified in the ongoing National Assembly Session. We expect the new policy to be a historical breakthrough for the industry, enhancin...

BFC's profit in Q2 20 recorded a strong improvement yoy as well as from the previous quarter thanks to: (1) a sharp drop in raw material prices (2) lower selling and interest expenses. However, overall sales volume is still low compared to the averag...

Bottom-up, we assess the trends in each sector, while in our stock-by-stock analysis of our entire coverage we provide detailed forecasts, investment rationale and operating risks for the coming year. The impact on market sentiment, therefore, will n...

Unfavourable weather:Low rainfall in 1Q2019 but slight improvement in May. Low fertilizer demand in 1H2019: Driven by fierce competition and poor weather. Coffee, pepper and cashew nuts dropped in price, meaning that demand for fertilizer went down a...