BHI (083650) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was KRW 135.3 billion, with operating income of KRW 12.4 billion and net income of KRW 8.7 billion, reflecting strong performance compared to prior periods.

• The company specializes in power plant equipment, with HRSG and boiler products as main revenue drivers.

• Major contracts and robust order backlog support future growth, with significant R&D in renewable and hydrogen technologies.

Financial highlights

• Q1 2025 revenue: KRW 135.3 billion; operating income: KRW 12.4 billion; net income: KRW 8.7 billion.

• Gross margin for Q1 2025 was 16.8%, with a basic EPS of KRW 281.

• Cash and cash equivalents increased to KRW 42.9 billion at quarter-end.

• Total assets: KRW 659.0 billion; total liabilities: KRW 534.5 billion; equity: KRW 124.5 billion.

Outlook and guidance

• Order backlog remains strong at KRW 1.86 trillion, with both domestic and overseas projects.

• Continued focus on expanding EPC business and renewable energy solutions.

• No new business lines planned in the near term.