BHI (083650) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 was ₩257.6 billion, down from ₩367.4 billion year-over-year.

• Operating income for the same period was ₩14.3 billion, compared to ₩15.1 billion last year.

• Net income reached ₩9.2 billion, up from ₩7.5 billion year-over-year.

• Significant asset revaluation increased total equity, with a ₩23.6 billion gain recognized.

Financial highlights

• Gross margin improved to 13.3% for the nine months ended September 2024.

• Cash and cash equivalents at period-end were ₩35.3 billion, up from ₩17.5 billion at the end of Q3 2023.

• Total assets stood at ₩544.5 billion, with total liabilities at ₩438.7 billion.

• Debt-to-equity ratio improved to 414.9% from 477.3% at the end of last year.

• Major contracts and order backlog at period-end totaled ₩1.1 trillion.

Outlook and guidance

• No new business lines planned; focus remains on power plant equipment and related R&D.

• Order backlog and ongoing R&D in hydrogen, renewable energy, and high-efficiency systems support future growth.

• Management expects continued demand for power generation equipment due to rising electricity consumption and environmental regulations.