Industrial fitting and valve manufacturer BMT recorded its highest-ever quarterly sales in the second quarter. This result reflects a simultaneous recovery in semiconductor equipment investment and an expansion of orders in the shipbuilding and eco-friendly ship engine sectors. The anticipated benefits from semiconductor upcycling and growth expectations in the shipbuilding sector, which the company had forecasted earlier this year, were confirmed through Q2 performance.
According to data filed on the 10th with the Financial Supervisory Service's electronic disclosure system, BMT reported consolidated sales of 48.647 billion won and an operating profit of 6.296 billion won for the second quarter. Sales increased by 23.9% year-on-year, while operating profit rose by 84.2%. Net income for the same period reached 4.883 billion won, a 345.9% increase.
Profitability also improved. The Q2 operating profit margin stood at 12.9%, recovering to double digits. This is more than 4 percentage points higher than the 8.7% operating profit margin recorded in the same quarter last year. Compared to the previous quarter, sales increased by 36.8% and operating profit surged by 255.3%.
On a cumulative basis for the first half of the year, BMT recorded sales of 84.216 billion won, an operating profit of 8.067 billion won, and net income of 8.526 billion won. Year-on-year, sales increased by 11.0%, operating profit by 30.3%, and net income by 82.1%.
BMT specializes in ultra-high-purity (UHP) fittings and valves for semiconductor processes and industrial piping materials. In semiconductor production lines, piping components that stably supply special gases and chemicals are essential. As memory manufacturers such as Samsung Electronics and SK Hynix continue to expand equipment investments, demand for related parts is also rising.
Earlier this year, BMT set a target to increase sales in the semiconductor sector by approximately 1.5 times compared to the previous year. The company has also expanded investments in production facilities and cleanrooms. It has also planned to raise the domestic market share of UHP products to 40% within the next five years. The Q2 performance is interpreted as the first quarter where such semiconductor sector investments and demand recovery were fully reflected.
The shipbuilding and eco-friendly ship engine sectors have also emerged as new growth engines. In the first half of this year, BMT secured contracts worth approximately 13 billion won for next-generation eco-friendly fuel supply systems from HD Hyundai Heavy Industries Engine & Machinery Business Division and Hanwha Engine. It developed and completed the application and trial operation of WinGD ammonia engine FVU (Fuel Valve Unit), leading to additional orders from HD Hyundai Heavy Industries.
From Hanwha Engine, BMT secured orders worth approximately 3.4 billion won for GVU (Gas Valve Unit) for WinGD X-DF engines. It also secured annual unit contract volumes worth about 8 billion won for GRU (Gas Regulating Unit) for HD Hyundai Heavy Industries' HiMSEN engines. The GRU is a device that regulates the pressure and flow rate of gas supplied to small and medium-sized ships and power generation engines.
The product portfolio is also expanding. BMT has secured approvals for its products from Everllence's LNG and methanol engines, as well as WinGD's LNG and ammonia engines. It also received Yangsan approval for the GRU for HiMSEN engines. This reflects a trend of expanding its business scope from fittings and valves to eco-friendly fuel supply systems for ship engines.
Industry observers believe that since investment cycles in upstream industries such as semiconductors, shipbuilding, data centers, and ship engines are continuing, the trend of performance improvement is likely to persist into the second half of the year. The simultaneous growth in semiconductor equipment investment and demand for power, gas, and cooling infrastructure driven by the spread of AI data centers is a positive factor for industrial fitting and valve manufacturers.
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