Yooshin Posts Quarterly Operating Loss, Backlog of 1.1 Trillion Won Maintained, Dividend Continues

1Q 2026 revenue 108.6bn won (+22.5% YoY), operating loss 0.76bn won (swung from profit of 1.6bn won), net profit 0.37bn won (-85.3% YoY)
Debt ratio 105.05% (FY2025: 98.15%), net debt 22.1bn won (FY2025: net cash) → financial health weakened
Order backlog maintained at 1.104 trillion won, large overseas projects (e.g., Philippines BCIB supervision) ongoing
Continued dividend of 900 won per share for 2025 (yield 3.89%), dividend policy intact
Diversification into new businesses (offshore wind, aquaculture, livestock manure facilities) under way but near-term profitability pressure
Credit rating BBB+/Stable (Korea Ratings), multiple litigations pending (including bid restriction cancellation suit)