BHI Hits Record Earnings... Twin Growth Engines of "K-LNG and Nuclear Power"

BHI announced on the 6th that it achieved its highest performance ever last year, backed by strong demand in the liquefied natural gas (LNG) and nuclear power plant equipment markets.

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On a consolidated basis, BHI posted sales of 771.6 billion won last year, up about 91% from the same period a year earlier. During the same period, operating profit and net profit rose 234% and 210%, respectively, to 73.3 billion won and 60.6 billion won.

The robust performance was driven by increased revenue recognition from heat recovery steam generators (HRSG), a key infrastructure component for LNG combined-cycle power plants, and by the full-scale revenue recognition in the balance of plant (BOP) nuclear power infrastructure segment for the Shin-Hanul Units 3 and 4 project. In particular, large-scale HRSG projects with high margins contributed significantly to improving profitability.

BHI also expects additional order opportunities in line with the domestic and overseas expansion of nuclear power. Following the government's recent announcement that it will proceed as scheduled with nuclear power plant construction plans included in the 11th Basic Plan for Long-term Electricity Supply and Demand, infrastructure equipment tenders for the Dukovany nuclear power plant project in the Czech Republic are also expected to begin as early as this year or next year.

A BHI official said, "It is highly meaningful that we have achieved strong growth in earnings and an earnings surprise for two consecutive years, centered on LNG and nuclear power, the two core energy sources whose use is expanding worldwide," adding, "As a core company of K-Power and K-Energy, we will contribute to enhancing the nation's global standing and continue to increase our corporate value."

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