Korea Gas (036460) Q4 2025 earnings summary

Executive summary

• Sales volume increased 1.1% year-over-year, driven by higher city gas demand, but power sector sales declined due to increased coal and renewable generation.

• Revenue fell 6.9% year-over-year, mainly from lower sales prices and subsidiary performance.

• Net income dropped 88.5% year-over-year, impacted by lower operating profit, asset impairment losses, and reduced equity method gains.

Financial highlights

• Revenue: KRW 35.7 trillion, down 6.9% year-over-year.

• Operating profit: KRW 2.1 trillion, down 30.0% year-over-year.

• Net income: KRW 132.3 billion, down 88.5% year-over-year.

• Cost of sales decreased 5.2% year-over-year, reflecting lower LNG prices and inventory reductions.

Outlook and guidance

• Capital expenditures projected at KRW 2.07 trillion for 2025, with a focus on domestic, overseas, and eco-friendly projects.

• Additional 493km of pipeline construction planned by 2029.