Homeplus, which entered corporate rehabilitation proceedings (court receivership) in March, reported a significant increase in operating losses last year.
Homeplus, whose fiscal year ends in February, announced on the 12th that its sales for the 2024 fiscal year (March 2024 to February 2025) reached 6.9919 trillion won, up 0.9% from the previous fiscal year’s 6.9314 trillion won.
In contrast, operating losses during the same period increased by 57.5%, rising from 199.4 billion won to 314.1 billion won, while net losses also grew by 17.7%, from 574.2 billion won to 675.8 billion won. The company has recorded losses for four consecutive years since the 2021 fiscal year (March 2021 to February 2022).
As of this fiscal year, total assets stood at 8.9167 trillion won, total liabilities at 7.4310 trillion won, and total equity at 1.4857 trillion won.
Current assets, which can be converted into cash within one year, amounted to 857.8 billion won, while current liabilities due within one year totaled 2.6499 trillion won?three times higher.
Due to the loss of the benefit of term on long-term borrowings, loans that may be required to be repaid within one year were tallied at 1.1959 trillion won.
Based on the substantial operating and net losses, as well as excessive current liabilities, the auditor, EY Han Young, issued a "disclaimer of opinion" in its audit report.
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