PV GAS TRADING to Set New Record for Highest Sales in 16 Years
General Manager of PV GAS Trading Company (PV GAS TRADING), Mr. Nguyen Phuc Tue, shared as of October 2023, the company had met all production and business targets for 2023 ahead of schedule, signaling a year of exceeding assigned tasks and setting a new business record.
Meeting all production and business targets ahead of schedule
In 2023, despite many challenges profoundly impacting the LPG market, PV GAS TRADING, with the strong determination of its leadership and workforce, realized its aspiration for breakthrough growth and completed its production and business targets for 2023 ahead of schedule.
Mr. Pham Van Phong – PV GAS’ President & CEO, chaired a meeting with PV GAS TRADING
As of October 2023, PV GAS TRADING’s sales volume reached the set target for the whole year, hitting 1.8 million tons of LPG on September 17, and on October 16, the company completed its 2023 revenue plan of VND 28,770B.
Determined to achieve the highest
Continuing the current business momentum in the remaining two months, PV GAS TRADING plans to exceed all production and business. The total LPG sales volume is expected to reach 2.440 million tons, surpassing the planned one by 36%, ending the year with a 20% growth year-over-year (y-o-y). This achievement will establish a new record for the highest sales volume in the company’s 16-year history of establishment.
Mr. Nguyen Phuc Tue expressed his determination to guild the company
In terms of the domestic market, the consumption volume is expected to climb to 1.585 million tons, surpassing the annual plan by 11% and showing a 3% growth y-o-y, while the total market demand increased by less than 1%. Currently, PV GAS TRADING holds approximately 70% of the nationwide wholesale LPG market, a 2% increase y-o-y.
In the export sector, the volume to foreign markets is to reach 225 thousand tons, surpassing the 2023’s target by 18% and growing by 5% y-o-y. In the international business segment, the trading volume is aimed at 630 thousand tons, which is 3.6 times the target and 2.2 times y-o-y.
PV GAS TRADING holds approximately 70% of the nationwide wholesale LPG market
PV GAS TRADING's revenue for the year 2023 is projected at VND 37,000B, a 29% increase y-o-y. This includes a significant shift in revenue structure from international markets, with a clear upward trend from 24% in 2022 to 35% in 2023. In the remaining months, PV GAS TRADING is fully focused on managing market fluctuations, cost prices, inventory, and exchange rates, demonstrating utmost determination to accomplish all assigned tasks for the year 2023.