1Q26 consolidated revenue KRW 94.9bn (vs 95.2bn in 1Q25, -0.3%), operating profit KRW 0.48bn (sharp decline from KRW 2.68bn in 1Q25), net income KRW 0.48bn (sharp decline from KRW 2.19bn)
Operating profit slump due to weak global appliance demand, Mexico subsidiary (SHIN STEEL MEXICO) net loss of KRW 1.57bn, and derivative valuation loss of KRW 0.79bn
Debt-to-equity ratio 177.3% (total debt KRW 151.4bn, equity KRW 85.4bn), high leverage
Derivative liabilities on CBs (2nd & 3rd series) fell to KRW 4.15bn (from KRW 4.77bn end-2025); 2nd series CB fully redeemed (Apr 30, 2026)
2025 cash dividend of KRW 21 per share (total KRW 0.86bn), payout ratio ~64%
Treasury shares: 733,410 shares (1.77%), planned disposal for employee compensation
Key subsidiaries: Thailand subsidiary small loss, Shin Steel Dangjin SC net profit KRW 1.6bn, Mexico subsidiary continued large loss