Sangsin EDP Q1 2026 Consolidated Revenue Up 27% YoY to KRW 72.2B, Operating Profit Turns Positive to KRW 4.9B; Maintains KRW 100 Dividend

Q1 2026 consolidated revenue KRW 72.2B (+27% YoY), operating profit KRW 4.9B (vs -KRW 3.4B loss)
Continuing operations net profit KRW 3.9B (vs -KRW 2.6B loss), EPS KRW 289 (vs -KRW 192)
Discontinued operations (China plant halt) loss -KRW 0.4B, total net profit KRW 3.5B
Total assets KRW 363.2B, liabilities KRW 196.4B, equity KRW 166.8B (equity ratio 45.9%)
Borrowings: short-term KRW 109.7B, long-term KRW 25.2B, total KRW 134.9B (vs KRW 130.6B at year-end 2025)
Cash & equivalents KRW 67.5B (vs KRW 49.7B), operating cash flow KRW 14.5B (vs -KRW 16.9B)
Dividend: KRW 100 per share for FY2025 (total KRW 1.33B)
Treasury share cancellation: 100,000 shares in Jan 2025; cumulative 530,000 shares canceled since 2021; outstanding shares 13,328,219
R&D expenses KRW 1.45B (5.3% of revenue); holds 8 patents, 15 designs
US Indiana plant investment via NMTC program; put/call options after 7-year hold
Major customer: Samsung SDI (KRW 66.9B, 92.6% of revenue)
Credit rating BB (Ecredible); KRX penalty of 1 point for delayed disclosure in Aug 2025
Recognized impairment loss on PP&E of KRW 3.04B