WooDeumGee Farm Reports Q1 2026 Consolidated Operating Loss of KRW 2.2B…Turned to Red and Debt Ratio at 107%
Consolidated revenue fell 15% YoY to KRW 12.4B (vs KRW 14.6B), operating loss of KRW 2.2B (vs profit of KRW 0.1B), net loss of KRW 2.7B (vs loss of KRW 0.1B), marking a significant deterioration
Debt ratio rose to 107% (from 93% at end of previous year), total borrowings of KRW 39.1B (short-term KRW 25.8B, long-term KRW 13.4B), cash and equivalents of KRW 7.8B
Absorbed subsidiary WooDeumGee Bio (Feb 24, 2026); after reporting period, resolved to issue KRW 7B convertible bonds and entered into a funding support agreement for subsidiary Nine Farm up to KRW 12.6B
Ongoing patent infringement lawsuit (Oh In-ho, claim KRW 100M) in third appeal (company won first and second trials)
No dividends paid (no dividends for the past 3 years)