Daewon Spring's Strong Q1 2026: Sales KRW 432.8B (+13.3%), Operating Profit KRW 23.3B (+26.6%)

Q1 2026 consolidated: Sales KRW 432.8B (+13.3% YoY), Operating profit KRW 23.3B (+26.6%), Net income KRW 35.0B.
Consolidated EPS KRW 474 (quarterly), separate EPS KRW 502. Dividend policy: target 20%+ of separate OP, minimum KRW 100 per share.
Spring segment 54.4% of sales, Seat 43.6%. Domestic sales KRW 316.7B, overseas KRW 116.1B.
Total assets KRW 1.54T, liabilities KRW 781.4B, equity KRW 757.8B (controlling KRW 585.6B). Debt-to-equity ratio 103.1%.
R&D expenditure KRW 6.5B (3.48% of sales), continuing investment in electrification/motor core technologies.
Stable raw material prices, maintained FX risk management (KRW/USD 10% change impacts pre-tax profit ±KRW 6.8B).