Namhwa Industrial Q1 2026: Operating Loss of 4.6 Billion Won, Sales Down 8.7%… Utilization Rate Drops
Consolidated Q1 2026 revenue of 1.99 billion won, down 8.7% from 2.18 billion won in the same period last year.
Operating loss of 460 million won (loss widened from 320 million won in Q1 2025).
Net loss of 178 million won (narrowed from 254 million won loss in Q1 2025 due to lower equity method losses).
Golf course utilization rate of 32.9% (decline from previous year; full-year 2025 was 46.9%).
Cash dividend of 200 won per share (total 4.12 billion won) paid for fiscal year 2025.
Debt-to-equity ratio of 9.33%; total financial assets of 59.45 billion won vs total liabilities of 17.21 billion won – very stable financial structure.
Ongoing construction of Muan CC Resort (contract with major shareholder Namhwa Construction worth 5.92 billion won).