Samyang Comtech Q1 2026: Revenue 16.5B KRW (-45% YoY), net income 2.38B (-39%), EPS 58 won (-54%). Contract liabilities surged to 70.6B from 33.0B at year-end 2025.
Production utilization 88-98%, capacity expansion at Gumi (29.6B) and R&D facility (10B) planned. Property, plant & equipment acquired 4.4B.
Total assets 120.5B (from 96.3B), equity 158.7B, net debt 27.7B, gearing 14.84%.
In May 2025, 919,420 shares cancelled (profit cancellation). No dividends.
R&D expense 1.29B, 7.82% of sales (vs 3.65% in FY2025).
Customer concentration: A사 69.5% of sales. FX exposure (EUR, GBP, USD) and floating rate debt (37%). No litigation or contingent liabilities.