Choil Aluminum Q1 2026 Sales Up 9.9%, Operating Profit 13.1B... Battery Foil Supply Contract Ongoing, Severe Accident Lawsuit in Appeal

Q1 2026 revenue KRW 150.9B (YoY +9.9%), operating profit KRW 13.1B, net profit KRW 10.0B (vs KRW 8.5B in Q1 2025, +18.6%)
Long-term supply contract with Lotte Aluminum for battery cathode foil material (2023-2027, total KRW 1.035T) ongoing
9th unsecured private bond with warrants KRW 30B outstanding (exercise price KRW 2,980, maturity 2029), derivative asset KRW 7.5M
Total borrowings and bonds KRW 184.3B, net debt KRW 165.8B, debt ratio 75.5% (from 68.0% at end 2025)
Lawsuit for violation of Severe Accident Punishment Act: first instance fine KRW 50M and suspended sentence for CEO, currently in second instance
Dividend: No dividend (since 2018). No share buyback or cancellation