Kolon Corporation (002020) Q4 2025 earnings summary

Executive summary

• Revenue for FY2025 was KRW 5,886.1 billion, down 0.6% year-over-year; operating income turned positive at KRW 60.5 billion from a loss in FY2024.

• Net loss of KRW 296.6 billion, reversing from a net profit of KRW 172.0 billion in FY2024, mainly due to increased derivative losses and lower equity-method income.

• Total assets increased 6.7% to KRW 7,447.0 billion, driven by M&A and higher investments in associates.

• Major group restructuring included the full acquisition of Kolon Mobility Group and several business combinations and spin-offs.

Financial highlights

• Operating margin improved to 1.0% from -1.6% year-over-year; net margin fell to -5.0% from 2.9%.

• Gross profit was KRW 513.3 billion, up from KRW 317.9 billion, reflecting improved cost control.

• Cash and cash equivalents at year-end were KRW 398.9 billion, up 14.6% from the prior year.

• Debt-to-equity ratio rose to 207.3% from 197.5% due to increased borrowings and hybrid bond issuance.

• Dividends per share: KRW 550 (common), KRW 600 (preferred); payout ratio 4.1%.

Outlook and guidance

• Focus on strengthening financial soundness and portfolio diversification in 2026.

• Kolon Global to expand non-residential orders and new businesses (wind power, modular construction) to offset housing market volatility.

• Kolon Mobility Group to enhance profitability by expanding used car and mobility services.

• Kolon Industries expects gradual recovery through new market development and process efficiency.