Farmstory Reports Net Loss in Q1 2026, Debt Ratio at 188%

Consolidated revenue: 347.1B won, operating profit 8.7B won, net loss 2.1B won (vs. net income 30.7B won in prior year)
Separate revenue: 316.0B won, operating profit 9.2B won, net loss 1.8B won
Segments: Feed 193.1B (operating profit 8.9B), Livestock 167.8B (0.04B), Poultry 27.7B (0.24B), Other 4.6B (-0.47B)
Debt ratio 188.17% (year-end 186.56%), borrowings 433.8B won
Treasury shares: 814,339 shares (0.73%), no specific shareholder return plans
Major subsidiaries: Maniker F&G (29.45%), Palmsworld (90%), Ekohoz (100%)
Equity method income from associates: 0.74B won, including 0.95B from Easy USA Holdings
Palmsworld (farming) reported quarterly net loss of 1.1B won; Maniker F&G net income of 0.21B won
Russian subsidiaries (Ekohoz etc.) continued overall losses
Recognized 0.55B won financial gain from currency forward hedging
R&D expense 0.17B won, 0.05% of sales
Fair value measurements: Level 3 assets 12,250M won, Level 2 324M won