S-Energy Reports Operating Loss of 5.8 Billion KRW Last Year... Returns to Deficit

[Asia Economy Reporter Minji Lee] S-Energy announced on the 19th that it recorded an operating loss of 5.8 billion KRW last year, turning to a deficit compared to the previous year. Sales increased by 17% to 254.8 billion KRW, while the net loss widened to 23.5 billion KRW.

The company stated, "The turnaround to a deficit was due to the recognition of a bad debt allowance of 11.8 billion KRW for long-term receivables related to mid- to long-term EPC projects," and added, "Losses increased due to the reflection of an evaluation loss of 7.2 billion KRW from the valuation of subsidiary equity."

On the same day, S-Energy announced a year-end dividend of 50 KRW per share. The dividend yield was 0.7%, with the total dividend amounting to 586.54 million KRW.