Daedong Metals Q1 2026: Operating Loss Persists, Debt Ratio Rises, 1:1 Stock Dividend
Q1 2026 revenue: 23.3 billion won (down 3.2% YoY), operating loss 0.72 billion won, net loss 0.91 billion won (improved from 1.08 billion loss in Q1 2025).
Total borrowings: 29.7 billion won (up from 24.5 billion at year-end 2025), net debt 29.6 billion won, debt ratio 69.8% (up from 56.1%).
Approved 1:1 stock dividend at March 2026 shareholder meeting (common shares from 3,189,166 to 6,378,332), paid cash dividend of 60 won per share for FY2025 (total 0.19 billion won).
Cast iron production utilization rate 46.2% (quarterly capacity 17,500 tons vs actual 8,080 tons), operating loss persists.
Foreign exchange sensitivity: 10% change in won would impact net income by approximately ±40 million won (JPY and USD receivables).
Interest rate sensitivity: 1% change in rates would impact net income by approximately ±0.29 billion won (variable-rate borrowings of 28.7 billion won).
Related party sales: 2.35 billion won (parent company Daedong Corp. and others), receivables 2.43 billion won.
Contingent liabilities: guarantees of 1.78 billion won from Seoul Guarantee Insurance, collateral provided on property, plant and equipment (45.45 billion won).