Kangdong C&L Swings to Operating Loss in Q1 2026 with Rising Debt Ratio
Q1 2026 sales: 12.55 billion KRW (vs 11.55 billion YoY, +8.6%), operating loss of 0.79 billion (swing to loss), net loss of 1.99 billion (vs 1.92 billion loss YoY).
Debt ratio: 220.3% (end-2025: 218.3%), cash & equivalents plummeted to under 0.1 billion (from 2.22 billion), short-term borrowings increased to 15.4 billion (from 7.5 billion).
Credit rating downgraded to 'B' (2025) from 'BB-'.
Articles of incorporation amended to expand business scope (added ~30 items including tourism, leisure, construction).
Ongoing lawsuit against Ministry of Environment over emissions allowance cancellation (KAU24/25 cancellations expected).