Kangwon Energy Reports Consolidated Operating Loss of KRW 0.87B in Q1 2026

Consolidated Q1 2026 revenue KRW 52.18B, operating loss KRW 0.87B, net loss attributable to controlling interest KRW 0.92B (vs operating profit KRW 1.30B and net profit KRW 0.35B in Q1 2025)
Secondary battery materials segment revenue KRW 42.34B (81.1% of total), operating profit KRW 0.93B
Plant segment revenue KRW 6.76B, segment loss KRW 0.84B, turning to deficit
Consolidated total liabilities KRW 101.8B, total equity KRW 62.9B, debt-to-equity ratio 161.7%
Credit ratings: Korea Data BBB, NICE D&B BBB- (March-April 2026)
Deficit in retained earnings: -KRW 1.14B as of Q1 2026
Subsidiary Kangwon Isolution (60% owned): revenue KRW 43.59B, net loss KRW 0.45B
New business development (permanent magnets, semiconductor EPC) underway with estimated investment of KRW 100B
Long-term loan of KRW 10.2B to major shareholder Pyeongsan Partners; guarantees and loans to related parties
Five pending lawsuits with total claim amount of approximately KRW 2.53B, all in first trial
Derivative (currency futures/forwards) contracts recognized net loss of KRW 0.39B in current quarter
No dividends paid (no dividends for last 5 years)