SMEC Swings to Loss in 1Q26 with Surging Debt Ratio; Large Order and Change in Control Offer Hope

Consolidated 1Q26 revenue of 29.2 billion KRW, down 31.1% YoY from 42.4 billion KRW
Operating loss of 4.8 billion KRW (vs profit of 4.3 billion KRW in 1Q25), net loss of 5.1 billion KRW (vs net profit of 4.0 billion KRW)
Debt ratio deteriorated to 226.1% (from 209.1% at year-end), net debt ratio to 167.2% (from 153.9%)
Machine tool orders in 1Q26 reached 875.9 billion KRW, up 11.7% YoY; signed a 22.07 billion KRW supply contract in March
On April 22, 2026, after the report date, SNT Motors became the largest shareholder with a 20.46% stake
No disclosure regarding dividends or share buyback/cancellation

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