Seamechanics Posts Operating Profit Turnaround in Q1 2026… Revenue Up 71% to 33.6B KRW

Q1 2026 standalone: Revenue 33.6B KRW (+71% YoY), Operating profit 1.65B (turnaround), Net profit 2.2B (vs loss 0.4B YoY)
Parts segment revenue 24.7B (vs 10B in Q1 2025, surge in ESS and EV exports)
IT segment revenue 8.9B (vs 9.6B in Q1 2025, slight decline)
ESS exports 15.9B (from 0 in Q1 2025), accounting for 48% of total revenue
Borrowings 55.6B (slight decrease from 55.8B at year-end), Debt-to-equity ratio 108.5%
R&D expenses 0.59B (1.75% of revenue), intangible asset acquisition 0.19B
No shareholder return (no dividends or share buybacks)
Operating cash flow -0.4B, investing -0.47B, financing -0.18B