Samyang Comtech (A484590) Q1 2026 earnings summary

Executive summary

• Leading global provider of ballistic protection solutions with a diversified product portfolio in armored vehicles, aerospace, and advanced composites.

• Operates multiple production and R&D facilities, including the world’s largest ballistic ceramic plant and unique certified testing infrastructure.

• Focused on expanding export markets, especially for K2 tanks, and entering new sectors such as aerospace and unmanned vehicles.

Financial highlights

• 1Q26 revenue was ₩16,526 million, down 45% year-over-year due to deferred sales recognition from delivery schedules.

• Operating income for 1Q26 was ₩1,996 million, a 64% decrease year-over-year.

• Net income for 1Q26 was ₩2,382 million, down 39% year-over-year.

• Gross margin for 1Q26 was ₩3,850 million on sales of ₩16,526 million.

Outlook and guidance

• Deferred sales from 1Q26 are expected to be recognized in the second half of the year, supporting a rebound in revenue and profitability.

• Ongoing expansion of production capacity, including a 30% increase in K2 tank output by mid-2026, positions the company for future growth.

• Anticipates continued growth from export contracts, especially in Poland and other emerging markets.