BHI (083650) Q2 2024 earnings summary

Executive summary

• Specializes in power plant equipment, serving major utilities, construction, and steel companies.

• Expanded business scope to include civil engineering and real estate leasing for asset efficiency.

• Six consolidated subsidiaries across multiple countries, with no changes in group structure during the period.

Financial highlights

• Consolidated revenue for H1 2024: ₩159.4B, down from ₩204.3B in H1 2023.

• Operating income for H1 2024: ₩9.5B, compared to an operating loss of ₩0.5B in H1 2023.

• Net income attributable to owners: ₩7.5B in H1 2024, versus a net loss of ₩4.4B in H1 2023.

• Gross margin improved to 15.2% in H1 2024 from 7.1% in H1 2023.

• Basic EPS: ₩242 in H1 2024, compared to -₩139 in H1 2023.

Outlook and guidance

• Actively pursuing new domestic and overseas power plant construction and performance improvement projects.

• Real estate business to remain focused on utilizing idle assets rather than aggressive expansion.

• Market expects continued growth in power demand and investment in new and replacement power facilities.