L&F Q1 2026: Sales Doubled, Operating Profit Turns Positive, New LFP Supply Contract

Q1 2026 consolidated sales KRW 739.6bn (up 102.7% YoY), operating profit KRW 117.3bn (swung from -KRW 140.3bn in Q1 2025)
Consolidated net loss KRW 55.5bn (narrowed from -KRW 145.4bn), still net loss after financial costs
Signed mid-to-long term LFP cathode material supply contract with Samsung SDI (KRW 1.6tn, 2026-2029)
Existing high-nickel contracts with SK On etc. maintained, total order backlog approx. KRW 23.5tn
One high-nickel contract (signed 2024.04.11) faces uncertainty due to counterparty bankruptcy
Disposed 500,000 treasury shares (Feb 13, 2026); no shareholder return activities
Derivative liabilities KRW 389.5bn (up from KRW 279.1bn), high-interest debt burden continues
Credit ratings BB+/B, speculative grade maintained