NHN KCP Q1 2026 Results: Revenue +22.7%, OP +26.4%, Debt Ratio Improves

Consolidated Q1 2026: Revenue KRW 344.9B (+22.7% YoY), OP KRW 13.8B (+26.4% YoY), Net Profit KRW 16.2B
Debt ratio improved to 114.54% from 119.43% at FY2025 end
PG fees account for 89.3% of revenue; Online Payment segment revenue share 91.35%
Equity-method loss from associates KRW 130M (vs KRW 20M loss in prior quarter)
Litigation risks: 1 case as plaintiff (KRW 2.5B), 14 cases as defendant (KRW 3.66B) pending
Contingent liabilities: Guarantees for merchant purchase card limits KRW 75.6B (down from KRW 87B at FY2025 end)
Treasury shares: 2,444,294 shares (6.09%); no separate dividend or buyback announcement in this report
FX sensitivity: 5% change in USD/KRW impacts equity by KRW 650M