Industrial fitting and valve manufacturer BMT surpassed 50 billion won in quarterly revenue for the first time. Following its second-quarter performance, the company set a new record for quarterly sales, pushing its operating profit margin up to 17.8%. With expanded supply of semiconductor components and added deliveries of fuel supply systems for eco-friendly ship engines, growth is expected to continue into the fourth quarter.
According to the Financial Supervisory Service's electronic disclosure system on the 9th, BMT recorded consolidated revenue of 50.23 billion won and operating profit of 8.929 billion won in the third quarter of this year. These figures increased by 34.0% and 53.6%, respectively, compared to the same period last year.
Performance also improved compared to the previous quarter. Revenue rose by 3.2%, while operating profit increased by 41.8%. The operating profit margin climbed from 12.9% in the second quarter to 17.8% in the third quarter. Cumulative revenue for the first three quarters was 134.42 billion won, and cumulative operating profit was 16.996 billion won.
In the semiconductor market, BMT is broadening its supply base. In September last month, the company received final approval as an official supplier to the components and equipment manufacturing division of Company A, the world's No. 1 semiconductor equipment maker. Based on this, it is pushing to expand supplies of ultra-high purity (UHP) fittings, valves, and gas supply systems.
UHP fittings and valves are connection and control components used to supply high-purity gases required for semiconductor manufacturing to production equipment. BMT has been supplying related products to the semiconductor plants of Samsung Electronics and SK hynix, and is now expanding its business scope into the supply chains of global equipment makers.
BMT expects increased supplies of UHP products used in semiconductor manufacturing processes in the fourth quarter. The company also explained that it will begin full-scale deliveries of fuel supply units for eco-friendly ship engines. This represents a strategy to target both semiconductor capital investment and demand for eco-friendly ships simultaneously.
Earlier this year, BMT announced that it had secured approximately 13 billion won worth of contracts for eco-friendly fuel supply systems from HD Hyundai Heavy Industries and Hanwha Engine in the first half of the year. The company is expanding its business into devices that supply ship fuels such as ammonia and LNG to engines.
However, net income for the third quarter was 4.54 billion won, a decrease of 64.1% from the same period last year. BMT explained that this was influenced by a base effect, as net income had temporarily surged in the third quarter of last year due to gains from the sale of its mass production factory, along with the reflection of corporate tax expenses this year.
BMT plans to continue revenue growth by expanding supplies of semiconductor components and devices for eco-friendly ship engines. The company intends to focus on translating supplier approval from global equipment makers into actual increased deliveries, and converting new ship-related orders into revenue.
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