KSS Line Q1 2026: Net profit 63.5B won, 826.4B won VLGC long-term contracts, change in major shareholder

Q1 2026 consolidated revenue 139.8B won, operating profit 21.6B won, net profit 63.5B won (basic EPS 2,813 won)
Signed long-term time charter contracts for 7 VLGCs of 90,000 CBM, total 826.4B won (contract signed in Apr 2026)
After the reporting period (Apr 23, 2026), due to inheritance from deceased major shareholder Park Jong-gyu, the major shareholder changed to KSS Line Employee Welfare Fund (stake 9.20%)
GAS segment accounts for 84.2% of revenue; GAS vessel daily revenue (C/B) at $21,208/day (down from $23,908 in prior year same period)
Debt-to-equity ratio approx. 236%, total borrowings (book value) 1.25T won, cash and equivalents 126.6B won, restricted financial assets 42.6B won
Pending litigation: retrial for corporate tax imposition cancellation (amount 6.07B won, pending at Constitutional Court)
Ongoing 26 bareboat charter contracts with purchase options and related guarantees for ship financing

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