CJ Seafood Q1 2026: Operating Loss Widens, Net Loss Swing
Consolidated Q1 2026 revenue: 54,950 million KRW (vs. 52,528 million KRW in Q1 2025, +4.6%), operating loss 1,471 million KRW (vs. 1,000 million KRW loss, widened), net loss 1,286 million KRW (vs. 231 million KRW profit, swung to loss).
Fisheries segment operating loss 1,602 million KRW, laver segment operating profit 131 million KRW (laver improved but fisheries loss increased, leading to overall loss).
Total borrowings 39,655 million KRW (year-end 2025: 34,280 million), net debt 36,036 million KRW (year-end 2025: 29,313 million), debt increased.
Operating cash flow –4,171 million KRW (vs. –3,391 million KRW), worsening cash generation.
89.5% of sales from CJ CheilJedang (customer concentration risk).
Derivative valuation gain of 385 million KRW but insufficient to offset operating loss.
Equity method gain from associate (Lucky Union Foods) of 1,237 million KRW partially offset net loss.