Enex에넥스

Enex's trailing results have swung back into loss, with a rights offering and a contested shareholder meeting pending.

Enex, a Korean kitchen and interior furniture maker, reported trailing twelve-month revenue of ₩189B to H1 2026 but an operating loss of ₩8.6B and a net loss of ₩10.7B. The shares closed at ₩1,812 on 2026-10-23, down about 35% over one year but up about 42% over three months. Recent filings point to a paid-in capital increase and a shareholder meeting.

What stands out

• Trailing revenue of ₩189B is down from ₩215B in 2025 and ₩264B in 2024, and the company is loss-making at the operating and net level.
• Free cash flow is about -₩16.8B and borrowings are ₩34.2B against cash of ₩6.2B, with liabilities at about 242% of equity.
• The 2025 full year was roughly break-even at operating level (₩0.5B) before a net loss of ₩1.3B; 2024 was the last profitable year in the data.
• Valuation metrics are low: price-to-book about 0.6 and price-to-sales about 0.1, but P/E is not meaningful given losses, and there is no dividend.
• Filings in September and October include a rights offering (paid-in capital increase) amendment, a shareholder meeting notice and a proxy solicitation reference document.
• Chosun Biz reported that a former CEO of a delisted company, under a breach-of-trust suspicion, has been nominated as an Enex director candidate.

What to watch

• The shareholder meeting agenda and vote, including the director nomination flagged in the news.
• Terms and timing of the rights offering, and how it would affect the share count and the company's debt position.
• Whether operating losses narrow in the next full-year or quarterly results, since the data does not include forward forecasts.