Taeyoung Construction Swings to Net Loss in Q1 2026; Workout Continues

Q1 2026 consolidated sales KRW 354.9bn, operating profit KRW 17.7bn, net loss KRW 3.0bn (swing to loss vs net profit KRW 95.8bn in Q1 2025)
Separate sales KRW 325.0bn, operating profit KRW 11.5bn, net profit KRW 13.1bn (maintains standalone profitability)
Consolidated debt ratio 489%; contingent liabilities including PF guarantees total KRW 7.5tn (book value KRW 553.5bn, max exposure KRW 7.5tn)
109 lawsuits pending with total claim of KRW 183.9bn; provision of KRW 61.5bn
Workout ongoing; no share buyback/cancellation or dividend plan
Consolidated net loss raises financial soundness concerns