The company reported revenues of 15,550 billion Vietnamese Dong (VND) in the year, a VND1,985 billion or 15% increase over 2021. According to Masan, H C Starck Tungsten Powders accounted for 70% of that growth.
Production from tungsten scrap recycling in HC Starck also increased by 13%.
In 2023, the company plans to improve its circularity with regards to tungsten waste and scrap collection, processing, recycling of scraps, and raw material recovery. Masan says that it expects net revenue in 2023 to be aound VND16,500 billion-VND18,200 billion, an increase from 6% to 17% compared to 2022.