BHI's Operating Profit Grows 86% Last Year... "Aiming for Quantum Jump with Nuclear Power and HRSG"

BH I announced on the 8th through a disclosure of a change of 30% or more in sales or profit structure that its consolidated operating profit for last year increased by 86.4% compared to the previous year, reaching 15.1 billion KRW. During the same period, sales achieved approximately 367.4 billion KRW, an increase of about 11.3% compared to the same period last year. Net profit recorded about 4.9 billion KRW, successfully turning to a surplus.

This strong performance is attributed to the full-scale recognition of sales from large-scale projects won over the past two years, along with the resolution of raw material price increases for construction projects ordered before 2021. Many power generation equipment companies faced difficulties due to the global inflation issue that began in the second half of 2021.

BH I's solid performance growth is expected to continue this year as well. As of the fourth quarter of last year, BH I's order backlog stood at approximately 700 billion KRW. The company also succeeded in significantly lowering its debt ratio compared to the previous year, laying the groundwork to maximize order momentum.

Another factor maximizing BH I's performance growth is the commencement of BOP (Balance of Plant) equipment orders for Shin Hanul Units 3 and 4 within this year. BH I holds a diverse portfolio of BOP equipment, including ▲Containment Building Steel Plate (CLP) ▲Stainless Steel Liner (SSLW) ▲Condenser ▲Feedwater Heater.

The government-led ‘Korean Standard Gas Combined Cycle Power Plant’ construction project is also expected to continue. BH I secured an order worth 45 billion KRW for a large-capacity Heat Recovery Steam Generator (HRSG) in October last year. The Korean Standard Gas Combined Cycle Power Plant project involves replacing 28 aging domestic coal-fired power plants with combined cycle power plants.

A BH I official stated, “We plan to continue performance growth this year based on a diverse energy infrastructure portfolio including nuclear power, HRSG, and green hydrogen,” adding, “A significant quantum leap will also be possible in the future according to the 11th Basic Plan for Electricity Supply and Demand, which is expected to be announced soon.”