Husteel Posts Operating Loss in Q1 2026, Suspends Dividend

Consolidated Q1 2026: revenue 147.9B won, operating loss 5.3B won, net loss 4.3B won, turning to deficit
No dividend for FY2025 (suspension of 23-year consecutive dividend)
No plan for share buyback or cancellation
US 50% tariff and Middle East tensions worsen order intake and profitability
Guilty verdict in KOGAS collusion lawsuit; paid ~3.6B won as share
Completed payment of 12.1B won in tax and penalties from 2025 tax audit
Serious accident at Uiwang logistics center in April 2025 (1 death)
Derivative (currency forward) valuation loss of 0.51B won
Major subsidiaries Husteel USA and Seven Seas Solutions in red
Consolidated assets 1.4T won, liabilities 309B won, debt-to-equity ratio 28.4% (sound)