BMT's 2Q Sales Up 23.7% YoY... "Continued Performance Growth Expected"

[Asia Economy Reporter Hyunseok Yoo] BMT, a specialized fitting valve company, recorded strong sales growth in the second quarter. The sales boom of ultra-high purity (UHP) fitting valves for semiconductor gases and ultra-low temperature fitting valves for LNG ships, driven by the semiconductor boom, led the performance growth.

On the 13th, BMT announced that its sales in the second quarter reached 28.9 billion KRW, an increase of about 23.7% compared to the same period last year. Operating profit for the same period was 1.5 billion KRW, and net profit was 1.5 billion KRW. For the first half of the year, cumulative sales amounted to 54.4 billion KRW, operating profit 4.9 billion KRW, and net profit 5.6 billion KRW.

The company stated, "The base effect of COVID-19 and the boom in upstream industries led to strong sales of semiconductor and LNG ship products, which were the main factors for achieving good results," adding, "Based on world-class fitting valve technology, the benefits from improvements in the semiconductor and shipbuilding industries are expected to continue."

They continued, "Operating profit slightly decreased due to rising costs from strong raw material prices and additional provisions for bad debts due to conservative accounting treatment," and said, "In the second half, profit scale is expected to expand with continued external growth and stabilization of raw material prices."

UHP products connect pipelines in semiconductor and display production lines. Previously, Japanese companies dominated the market, but BMT succeeded in product development in 2017 and has been leading the domestic market since. The end customers include Samsung Electronics, SK Hynix, and LG Display.

Additionally, the company supplies valves for LNG vessels to the three major domestic shipbuilders (Korea Shipbuilding & Offshore Engineering, Daewoo Shipbuilding & Marine Engineering, Samsung Heavy Industries) and major Chinese shipbuilders. Recently, it has been actively engaged in research and development and investment to secure new growth engines such as ultra-high pressure products for hydrogen infrastructure, high-performance distribution panels, and energy management solutions.

A BMT official emphasized, "We will focus more on R&D of high value-added products to strengthen technological competitiveness and maximize profitability," and added, "Based on our technological capabilities, we will actively pursue sales efforts to surpass annual sales of 100 billion KRW this year."

This content was produced with the assistance of AI translation services.