GSE Reports Slight Revenue Decline in Q1 2026, Maintains Dividend
Q1 2026 results: Sales 71,509 million won (vs 73,968 million in Q1 2025, -3.3%), operating profit 5,437 million won (vs 5,618 million, -3.2%), net income 4,145 million won (vs 4,706 million, -11.9%), EPS 138 won (vs 157 won)
Dividend: 20 won per share for year-end 2025, plus 20 won interim, total 40 won per share (same as previous year). Stable dividend policy maintained
Financial structure: Cash and equivalents 11.6 billion won, net debt 37.3 billion won, capital gearing ratio 27.1%, improved from 31.0% at end of previous year
Increase in allowance for doubtful accounts of 115 million won impacted net income decline
Seasonal nature: Winter (Q1) results may not represent full-year trends
No other material events (no new business, litigation, or contingent liabilities)