Woosung Swings to Consolidated Net Loss in Q1 2026, Dividend Raised to 1,300 Won Per Share
Consolidated Q1 2026 revenue of 148.57 billion KRW (up 6.7% YoY), operating profit of 1.22 billion KRW (down 64.6% YoY), controlling interest net loss of 3.30 billion KRW (vs net profit of 0.84 billion KRW in prior year).
Separate Q1 2026 operating revenue of 26.98 billion KRW, operating profit of 10.48 billion KRW, net profit of 10.77 billion KRW, turning to profit YoY.
Declared a year-end cash dividend of 1,300 KRW per share (total 3.34 billion KRW) for fiscal year 2025, significantly up from 300 KRW per share in the prior year.
Net debt-to-equity ratio increased to 49.82% from 41.32% at year-end; total borrowings of 151.8 billion KRW (vs 148.5 billion KRW at year-end).
Net USD-denominated liabilities of 85.8 million; a 10% change in exchange rates would affect profit by approximately 6.72 billion KRW.
Subsidiary Woosung Saryo's operating profit was negligible; the consolidated net loss was mainly due to common segments and consolidation adjustments.
Woosung Vietnam continues to be in capital deficit with full impairment recognized.
20 pending lawsuits with total claim amount of 3.63 billion KRW, outcome uncertain.
Significant guarantees and collateral provided to related parties, including joint guarantees of 35.9 billion KRW to Korea Capital and others.
R&D expenses maintained at 0.1% of revenue, ongoing new product development.