SY Q1 2026: Revenue Up but Net Loss Widens, Debt Ratio Rises
Consolidated revenue increased 8.6% YoY to KRW 126.3 billion, but net loss widened to KRW 3.91 billion from KRW 3.70 billion in the prior year quarter.
Consolidated operating loss of KRW 1.21 billion improved from full-year 2025 operating loss of KRW 6.63 billion, but quarterly net loss increased YoY.
Debt ratio rose to 105.67% from 93.15% at year-end 2025, indicating deteriorating financial health.
As of quarter-end, 7 lawsuits are pending with total claims of approximately KRW 7.3 billion, adding uncertainty.
Credit rating remains at BB+ (as of 2018), a low speculative grade.
Absorbed subsidiaries SY Chemical and SY Coning in December 2025, but financial impact was minimal.
On a separate basis, operating loss was KRW 1.91 billion and net loss KRW 4.37 billion.
No share buyback, cancellation, or dividend announcement during the quarter.