Taihan Electric Wire: Q1 2026 Revenue Up 27% but Net Loss, Debt Ratio Rises

Consolidated revenue KRW 1,083.4 billion (up 26.7% YoY), operating profit KRW 60.4 billion, net loss KRW 6.8 billion (swing to loss)
Standalone revenue KRW 914.1 billion, operating profit KRW 41.8 billion, net loss KRW 19.6 billion
Debt ratio 91% (up from 87% at year-end), net debt KRW 1.48 trillion
Total equity KRW 1.62 trillion (slightly down from KRW 1.63 trillion)
EPS (consolidated) -KRW 40, (standalone) -KRW 106
No dividends or share buybacks (no dividends for past 5 years)
R&D expenses KRW 4.8 billion (0.52% of sales)
Major orders: London Power Tunnels, Singapore NDC357/373/423, Anma offshore wind, Qatar grid expansion (order backlog KRW 3.83 trillion)
Ongoing facility investments: submarine cable plant 2 and HVDC test center
After reporting period: full conversion of 153rd CB worth KRW 110 billion (debt reduction and share dilution expected)