Corporate News

Bangkok – February 26, 2025 – HMC Polymers Co., Ltd., Thailand’s first and largest producer and distributor of polypropylene (PP) plastic resin, and a leading player in Southeast Asia, has announced its vision for 2025 under the concept “NEVER STOP INNOVATING, NEVER-ENDING SMILES.” This underscores the company's commitment to driving the industry forward with innovative PP plastic resin. The focus is on developing premium products to meet the demands of industries requiring high-quality materials, such as medical devices, automotive parts, and environmentally friendly packaging, all grounded in sustainability. The company projects total revenue for 2024 to reach 26 billion baht, with a target of 31 billion Baht in 2025.

Mr. Corso Uzielli, President of HMC Polymers, stated, “The year 2024 was another challenging year for HMC Polymers and the entire petrochemical industry. The key reasons for this are the significant increase in competition, rising energy costs, geopolitical issues, and environmental pressures that are forcing the plastic industry to adapt. All of these external factors are difficult to control, but with the experience we have accumulated, and our vision of being the “Preferred Partner for Sustainable PP Solutions”, we have re-focused our business strategy and accelerated the development of products that are special and differentiated from competitors in the market. These products are more resilient to market volatility. In the past year, HMC Polymers was able to develop and produce several premium-grade PP plastic resins, which was possible through exploiting the capabilities of our 4th production line. We have also expanded our range of Sustainable PP Products to offer our customers more options. These products have been well-received by major customers and brand owners."

Mr. Pornchai Pichitwutikorn, Senior Vice President, Business Strategy, Innovation, and Commercial, added, “Despite the volatile economic conditions, HMC Polymers remains the leading producer and distributor of premium-grade PP plastic resin in the country. We serve industries such as medical and hygiene products, rigid and flexible packaging, and large industrial components. Our Sustainable PP Products, including Bio-Circular PP, Advanced Recycling PP, and Mechanical Recycling PP, have been well-received by major customers both domestically and internationally, including in Japan, India, Malaysia, Indonesia, and Australia. This is a positive start to our research and development efforts aimed at responding to rapidly changing consumer demands.”

In late 2024, HMC Polymers set its sustainability roadmap and strategic goals with 3 core pillars for 2030:

• Circularity Pillar : Increase the sales proportion of Sustainable PP Products to 5% of total sales.
• Carbon Reduction Pillar : Achieve a 20% reduction in carbon emissions in scope 1 and scope 2.
• Connectivity Pillar : Achieve 70% of procurement budget allocated to sustainable practices.

On the social front, HMC Polymers has expanded collaborations with national partners, such as Channel 3, Thailand Post, and Srinakharinwirot University, to make the PP Reborn platform for managing used PP plastic more accessible to the public. In 2025, we plan to expand the number of PP plastic drop-off points from 20 to 50, covering all districts in Bangkok, through partnerships with both public and private sectors.”

Ms. Angkanee Soonthornsawad, Vice President, Finance, Accounting, and Corporate Support, discussed HMC Polymers' financial outlook and strategy for 2025, stating, “While the petrochemical industry remained weak last year, HMC Polymers managed to increase its EBITDA by more than 1.5 billion Baht compared to 2023. This year, we are preparing to strengthen our financial position and maintain stability to overcome all challenges with the following 4 main strategies:

1. Cost efficiency and value enhancement program: Focus on producing specialty and differentiated products while further developing Sustainable PP Products to meet environmental trends.
2. Working capital management: Maximize efficiency to enhance cash flow and liquidity.
3. Capital expenditure: We have no major investment plans following the completion of our fourth production line in 2022. Our investment budget will focus on machine maintenance, production efficiency improvements, and supporting strategic plans.
4. Securing working capital credit lines: We have already issued bonds twice, in 2020 and 2023, with positive feedback from institutional and large investors. In 2025, we plan to issue more bonds to finance our business operations and expect strong interest from investors. We leverage our leadership in innovation, PP resin production, and distribution, with over 42 years of experience and strong governance practices.”

HMC Polymers continues to innovate and develop its production base and business operations in all aspects to improve the quality of life for consumers while managing growth sustainably.