Ducksan Hi Metal: Q1 2026 Consolidated Revenue Up 55%, Swings to Profit

Consolidated revenue: 68.7bn won (up 55% YoY), operating loss improved to 0.7bn from 1.4bn loss, net profit attributable to parent 5.5bn (vs 0.9bn loss in prior year quarter)
Metal materials (solder ball) segment: revenue 42.6bn, operating profit 2.8bn; defense business (Ducksan Naepeus): revenue 12bn, operating profit 0.24bn; gas container (Ducksan Ether City): operating loss 1.4bn
Myanmar subsidiary (DS Myanmar) and Ducksan SG (plastic film) remain suspended
Corporate credit rating downgraded from A to A- (NICE D&B)
Borrowings increased: short-term 165.8bn, long-term 103bn; total borrowings ~268.8bn
Sirius Holdings sub-issued perpetual bonds (77bn) with options and collateral agreements
R&D expense 1.1bn (2.5% of revenue); new product development ongoing
Standalone: revenue 42.6bn, operating profit 2.3bn, net profit 2.8bn