HLB (028300) Q1 2026 earnings summary

Executive summary

• Completed merger with HLB Science to consolidate R&D and optimize costs, with no change in controlling shareholder post-merger.

• Spun off shipbuilding business into HLB ENG to focus on core bio and healthcare operations.

• Maintained a diversified business portfolio: bio/pharma, healthcare devices, composite materials, and media commerce.

Financial highlights

• Q1 2026 consolidated revenue: KRW 18.7 billion, down from KRW 84.2 billion in FY2025.

• Q1 2026 operating loss: KRW -23.2 billion; net loss attributable to owners: KRW -38.0 billion.

• Cash and cash equivalents at Q1 2026: KRW 26.2 billion, down from KRW 41.0 billion at FY2025.

• Total assets at Q1 2026: KRW 925.4 billion; total liabilities: KRW 431.6 billion.

• Basic EPS for Q1 2026: KRW -286.

Outlook and guidance

• Focus on accelerating global commercialization of oncology pipelines, especially Rivoceranib and Lirafugratinib.

• Continued investment in R&D and clinical trials for new drug candidates.

• Strategic expansion in the US and Europe post-FDA/EMA approvals.