Korea Special Steel Swings to Operating Loss in Q1 2026, Debt Ratio Rises
Q1 2026 revenue: KRW 210.1bn (+12.8% YoY) but operating loss of KRW 3.6bn (vs operating profit of KRW 2.3bn in Q1 2025). Net loss of KRW 2.7bn (vs net loss of KRW 1.7bn).
Debt ratio rose to 174.78% from 158.51% at year-end 2025. Total borrowings KRW 252.2bn, net debt KRW 203.8bn.
Sensitivity: 10% appreciation of KRW would reduce pre-tax profit by KRW 2.3bn.