Sammok S-Form Swings to Operating Loss in Q1 2026, Governance Dispute Continues
Consolidated operating loss of 6.1 billion won (vs. 6.4 billion profit in FY2025), net profit 1.18 billion (down 88% from 10.2 billion)
Separate operating loss of 7.59 billion won, net profit 0.45 billion (vs. net loss of 3.6 billion in FY2025, but still weak)
Debt-free (no short-term borrowings), cash and cash equivalents 69.9 billion won, debt ratio 19.1%, stable financial structure
Dividend payable of 4.3 billion won (likely prior year settlement), articles include mandatory interim dividend but payouts may be reduced due to poor earnings
Governance dispute: minority shareholder Lee Bo-yeol et al. called for EGM and director removal; some proposals passed/failed at AGM on March 31, 2026; uncertainty persists
Construction downturn: declining orders, rising raw material costs and lower contract prices worsen operating environment