SC Engineering Reports Q1 2026 Operating Loss of 1.84 Billion Won, Continued Deficit
Consolidated Q1 2026: sales 19.26 billion won, operating loss 1.84 billion won, net loss 3.10 billion won (loss widened compared to Q1 2025: sales 36.05 billion, operating loss 1.35 billion, net loss 1.47 billion).
Separate Q1 2026: sales 15.52 billion won, operating loss 1.35 billion won, net loss 2.62 billion won, EPS -69 won. Accumulated deficit 40.47 billion won.
Consolidated net debt ratio 99.7% (up from 88.3% at year-end 2025). Cash equivalents 33.62 billion won (down from 47.44 billion).
Subsidiary Cellontec: Q1 sales 3.74 billion won, net loss 0.37 billion won. Growing business in bio-collagen medical devices.
Major shareholder changed to Bando Holdings in Feb 2026. Company classified as mid-sized enterprise due to inclusion in large business group.
Major ongoing contracts: K&D Energy (9.32 billion), Aekyung Chemical (8.28 billion). Remaining contract balance 25.69 billion won.
Issued 12th and 13th convertible bonds totaling 30 billion won (15 billion each), conversion price 1,236 won, put option exercisable from Dec 2026.
Granted 330,000 stock options to executives in Q1 2026 (exercise price 20,000 won).
9 pending lawsuits (severance, construction payment, damages, etc.) totaling approximately 11.16 billion won.
No dividends (no distributable profit due to accumulated deficit). Holds 2 treasury shares, no buyback plan.