Monami 2026 Q1: Consolidated Loss Widens, Separate Profit Improves

Consolidated: Revenue 328.4B KRW (down 2% YoY from 334.9B), operating loss 2.7B (vs loss 0.7B), net loss 2.8B (vs loss 2.4B)
Separate: Revenue 313.0B KRW (up 28% YoY from 244.2B), operating profit 0.94B (up 24% from 0.76B), net profit 0.89B (up 640% from 0.12B)
Increased leverage: Total borrowings 87.4B (from 78.4B year-end), net debt 57.7B, capital gearing ratio 42.6% (from 38.7%)
Weak overseas subsidiaries: Monami(Thailand) net loss 1.54B, Monami Cosmetic net loss 1.66B in Q1
Dividend: Maintained at 30 won per share (same as prior year), stable dividend policy
Merger completed: Absorbed Hangso and Monami Imaging Solutions in Nov 2025
R&D: 0.53% of revenue (24 projects ongoing, new product launches)