GSP&L Reports Q1 2026 Consolidated Operating Profit of KRW 24.2bn; Westin Hotel Turns Profitable and Dividend Initiated

Q1 2026 consolidated results: Revenue KRW 130.4bn (27% of FY2025), OP KRW 24.2bn (31% of FY2025), net profit KRW 14.1bn
Key subsidiary Parnas Hotel: Revenue KRW 128.6bn, OP KRW 24.1bn, net profit KRW 14.5bn
Westin Hotel (reopened Sep 2025): OP turned positive to KRW 198mn (from -KRW 26.9bn in FY2025)
Net debt-to-capital ratio 19% (FY2025: 20%), sound financial structure
FY2025 dividend of KRW 350/share (payout ratio 35.7%), first dividend payment
Treasury shares of 46,221 shares (0.23%) held from split; no additional buyback plan
Investing KRW 13.8bn for hotel renovation and upgrades
Two pending lawsuits with low materiality; bond covenant (debt ratio ≤300%) complied