Sunjin Co., Ltd. Reports Strong Q1 2026 Results, Adjusted Debt Ratio Improves to 49.6%

Q1 2026 consolidated sales recorded KRW 533.0 billion (+16.8% YoY), operating profit KRW 61.4 billion (operating margin 11.5%).
Consolidated net income KRW 40.0 billion, basic EPS KRW 1,573.
Adjusted debt ratio improved to 49.56% (from 55.57% at end of prior year), current ratio 106.69% (from 100.51%).
Feed segment sales KRW 302.0 billion (45.6% of total), swine segment operating profit KRW 19.8 billion.
Net loss on derivatives of KRW 1.6 billion (valuation loss KRW 1.0 billion, trading loss KRW 0.6 billion).
42.96% of the largest shareholder (Harim Holdings) shares are pledged as collateral.
In April 2026, the Fair Trade Commission imposed corrective orders and a fine of KRW 271 million for unfair collusion (administrative lawsuit planned).
Six material lawsuits pending (total KRW 2.7 billion), but management expects no material impact.
After the reporting period, decided to participate in a KRW 60 billion rights offering by subsidiary Harim Food (first tranche KRW 30 billion paid).