KEC Holdings Q1 2026: Continued Operating Loss, Maintains W20 Dividend, 5:1 Stock Split

Consolidated Q1 revenue W77.7bn, operating loss W2.9bn, net profit attributable to parent W0.5bn (operating loss widened YoY)
Maintained cash dividend of W20 per share (total W0.88bn)
Issued 3rd exchangeable bonds of W2.2bn in Feb 2026 (exchange price W746, on treasury shares); W2.14bn exchanged in Mar
5:1 stock split resolved (listing expected May 20, 2026) → reduction in outstanding shares
Debt ratio 38.05% (previous year-end 37.00%)
Litigation provision of W0.7bn set; additional lawsuits ongoing
Semiconductor segment operating loss W2.9bn; Service segment operating loss W0.39bn
R&D expenses W1.6bn (2.5% of sales)