Samsung Electro-Mech (009150.KS) Q1 2026: Non-Samsung Surges 24%
94% of Samsung Electro-Mechanics' quarterly revenue growth came from outside the Samsung group, even as a one-off Supreme Court labor ruling absorbed ₩71.4 billion of operating expense.
Source: Quarterly Report — Filed May 2026 with DART | Consolidated Financial Statements | Unit: ₩ billions
Samsung Electro-Mechanics crossed quarterly revenue of ₩3 trillion for the first time in company history, posting ₩3,209.1 billion in Q1 2026 (+17.2% YoY). Of the ₩470.5 billion of incremental revenue, ₩442.1 billion — or 94% — came from non-Samsung customers, dropping Samsung Electronics' share from 33.6% to 29.6% in a single year. Operating profit grew 39.9% to ₩280.6 billion despite a ₩71.4 billion charge tied to a Korean Supreme Court ruling on average wage scope; stripping out that one-time labor charge, adjusted operating profit was roughly ₩352.0 billion and adjusted operating margin was 10.97% — more than 200 basis points above the headline 8.74%. Net income climbed 78.5%, but more than half of the spread versus operating profit growth came from a ₩64.1 billion net swing in FX-related items rather than core operations.
