Seoul City Gas Q1 2026: Operating Profit Turns Positive, Net Cash Position, Share Buyback & Cancellation

Consolidated Q1 2026 revenue: 769.5 billion KRW, operating profit 22.0 billion KRW (turnaround from loss; full-year 2025 op. profit 17.4 billion, 2024 loss 10.3 billion)
Net income attributable to parent: 21.6 billion KRW, EPS 5,446 won
Net debt: -42.2 billion KRW (cash 47.5 billion > borrowings 5.2 billion) – effectively debt-free
Continued shareholder returns: cancellation of 50,000 treasury shares (Feb 2026) and contribution of 50,000 shares to employee welfare fund
Total equity: 1,137 billion KRW, debt-to-equity ratio 68.1%
City gas sales volume increasing (supply households 21,493 thousand, up from prior year)
7 lawsuits with potential liability up to 3.7 billion KRW, but management expects no material impact