Foosung (093370) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was KRW 107.1 billion, down 1.3% year-over-year, mainly due to weak demand in secondary battery materials and semiconductor specialty gases amid global economic slowdown and industry headwinds.

• Operating loss for Q1 2025 was KRW 0.1 billion, a significant improvement from the KRW 9.6 billion loss in Q1 2024.

• Net loss attributable to owners was KRW 0.08 billion, with a total net loss of KRW 1.94 billion for the quarter.

Financial highlights

• Total assets at March 31, 2025: KRW 860.7 billion; total liabilities: KRW 495.0 billion; total equity: KRW 365.7 billion.

• Cash and cash equivalents increased to KRW 83.8 billion from KRW 54.9 billion at year-end 2024.

• Gross margin for Q1 2025 was 15.2%, up from 6.1% in Q1 2024.

• Basic and diluted EPS for Q1 2025 were both -1 KRW.

Outlook and guidance

• The company is focusing on expanding global market share in fluorochemical and chemical equipment segments, investing in new technologies, and responding to market changes in secondary batteries and semiconductors.

• No specific quantitative guidance provided, but management highlights ongoing investments in capacity and R&D to support future growth.