ILWOUL GML: Q1 sales plunge, operating loss, but first dividend and strong cash position
Consolidated Q1 revenue KRW 1.65bn (down 63.6% YoY), operating loss KRW 0.31bn (wider than KRW 0.16bn loss YoY). Net profit KRW 0.03bn (EPS KRW 2) supported by interest income.
Cash & equivalents KRW 11.29bn, short-term financial instruments KRW 15.43bn; total liquidity KRW 28.16bn. Debt-free, net cash position (net debt -KRW 10.88bn).
First dividend declared: KRW 250 per share (total KRW 4.66bn) for FY2025. Payout ratio not disclosed.
Four ongoing lawsuits: Revolution No.1 Fund (KRW 0.3bn damage claim, won at trial, pending appeal), Lee Sung-woo (KRW 0.93bn unjust enrichment), Park Geun-sik (2 cases). Former executive's short-swing profit (KRW 1.16bn) unrecovered.
Related party transactions: KRW 0.6bn purchases from parent (주)일월, KRW 0.15bn internal sales to subsidiary. Full allowance for KRW 2.34bn receivables from related parties.
US subsidiary ILWOUL GML CORP.: assets KRW 10.69bn, revenue KRW 0.15bn, net loss KRW 0.03bn. No change in consolidation scope.