BHI (083650) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 was ₩257.6 billion, down 29.9% year-over-year from ₩367.4 billion in the same period of 2023.

• Operating income for the period was ₩14.3 billion, a decrease from ₩15.1 billion year-over-year.

• Net income attributable to owners was ₩9.2 billion, up from ₩7.5 billion in the prior year period.

• Total assets at September 30, 2024, were ₩544.5 billion, with total equity of ₩105.7 billion.

Financial highlights

• Gross profit margin for the period was 13.3%, compared to 10.2% in the prior year.

• Operating margin was 5.5%, up from 4.1% year-over-year.

• Basic EPS for the nine months was ₩298, compared to ₩99 in the prior year.

• Cash and cash equivalents at period end were ₩35.3 billion, up from ₩13.9 billion at the end of 2023.

Outlook and guidance

• Order backlog as of September 30, 2024, was ₩1,104.4 billion, with ₩533.9 billion domestic and ₩570.4 billion overseas.

• No new business lines are planned; focus remains on power plant equipment.