E1 Q1 2026: Net Profit Rises Despite Operating Loss, Shareholder Returns via Dividends and Share Buyback

Operating Results: Revenue KRW 3.585 trillion (vs. 2.766 trillion YoY, +29.6%), Operating loss KRW 156.2 billion (vs. profit KRW 107.1 billion), Net profit KRW 81.7 billion (vs. 65.2 billion, +25.3%), EPS KRW 11,555 (vs. 10,174)
Shareholder Returns: 2025 annual dividend KRW 4,550/share (vs. 3,450), Pyeongtaek Energy & Power (subsidiary) canceled 7 million common shares (Nov 2025, reason: shareholder value enhancement)
Financial Health: Consolidated debt ratio 1,094.2% (ex-finance 97.0%), LS Securities net capital ratio 783.9% (adequate)
Risks: LPG export volume down 57.5% YoY (US-Iran war impact), 18 ongoing lawsuits (ABCP-related, provision KRW 4.5 billion), maximum guarantee exposure KRW 5 trillion
Subsidiary Performance: LS Securities operating profit KRW 39.7 billion (vs. 17.3 billion YoY, +129.7%), net profit KRW 30.4 billion (+133.3%)
Dividend Policy: At least 15% of separate net income (FY2023-2025), next policy under review

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