Fit for Future: Masan High-Tech Materials sheds new light on the journey of sustainability

April 23, 2024 – Masan High-Tech Materials (HNX-UpCOM: MSR, “MHT” or “Company”) organized its Annual General Meeting of Shareholders (AGM) 2024 with the theme of ‘Fit for Future” in Thai Nguyen.

Masan High-Tech Materials reported FY2023 revenue of VND14,093 billion, the second-highest revenue in the company’s history, below the record revenue of VND 15,550 billion in 2022. EBITDA (Earnings before Interest Tax and Depreciation) was down to VND1,550 billion. This was associated with blasting interruptions coupled with geopolitical conflicts, global cost pressures, and lower market demand for advanced materials. Nevertheless, MHT continued to be a significant contributor to the state budget with VND1,414 billion paid, making the Company the largest Vietnamese taxpayer in Thai Nguyen province.

Monetization of Copper Inventory Stockpile recommenced on the domestic market, with sales valued at VND 1,044 billion in 2023, equivalent to 42,387 dry metric tons. Contracts have also been executed to supply 45,000 dry metric tons, scheduled for delivery in 2024.

At the AGM, Chief Executive Officer of MHT, Craig Richard Bradshaw shared: “Masan High-Tech Materials’ sustainable practices remain on track despite an extremely challenging environment. A new highlight in our sustainable journey in 2023 is the implementation of sustainable initiatives aimed at optimizing costs and improving financial efficiency”.

In June 2023, MHT completed the acquisition of Chemitas, a Germany-based services provider specializing in energy supply, waste management, and logistics. This strategic move bolsters manufacturing and delivery capabilities, aligning with MHT’s commitment to offering comprehensive solutions in the global market. The acquisition is also anticipated to lower operating costs through consolidation and synergies.

Furthermore, MHT’s proactive approach to cost and supply chain optimization has yielded promising results. Through partnerships with key suppliers like the Defense Economic Technical Industry Corporation (GAET), MHT ensures efficient blasting services, thereby enhancing productivity and optimizing production costs at Nui Phao Mining.

Embracing innovation, MHT’s Global Technology & Innovations and R&D team continue to drive advancements in product development. Noteworthy introductions include ‘starck2charge®’ and ‘starck2print®,’ enriching MHT’s advanced product portfolio and meeting the evolving demands of global technology industries. Sustainable efforts are also directed toward optimizing processes and technologies to minimize CO2 emissions, promote recycling, and transform waste streams into value-added products.

“Masan High-Tech Materials’ particular focus in 2023 is on innovation and sustainable practices in response to market changes. This strategy is clearly reflected in our ‘Fit for Future’ program implemented across all subsidiaries, delivering positive outcomes in the present and in future development stages”, said Mr. Bradshaw.

In 2023, the company’s Management continued to maintain a steadfast management policy, promote sustainable practices, and focus on optimizing resources to help the Company overcome difficulties. The company’s recognition as one of the “Top 100 Sustainable Enterprises in Vietnam” for the 6th consecutive year underscores its relentless efforts and unwavering commitment to sustainability. MHT’s certification as a “Great Place to Work”, based on feedback from over 1,000 employees, reaffirms its dedication to employee well-being and organizational excellence.

Additionally, Masan High-Tech Materials continued to fulfill its responsibilities to the community by implementing various community engagement activities and local support programs, including charitable activities, local infrastructure support and socio-economic development programs with a total investment of about 6.8 billion VND.

In 2023, the company started applying for an expansion license to mine an additional 28 million tonnes of reserves at the mine. Looking ahead, ore mining and processing operations are poised to intensify, ensuring operational continuity at Nui Phao through 2034.

Source: Thai Nguyen Newspaper