K Car 2026 Q1: Revenue and Sales Decline, Largest Shareholder to Sell Stake
Q1 2026 revenue of KRW 572.1 billion, down 5.4% YoY from KRW 604.7 billion. Operating profit KRW 14.2 billion, net income KRW 10.2 billion.
Used car sales volume of 36,787 units, down 6.7% YoY from 39,408. Effective market share 12.1% vs 12.7% in Q1 2025.
Largest shareholder Han & Co Auto Service Holdings (72.19%) signed agreement to sell entire stake to KG Steel and Cactus PE on March 31, 2026. Expected closing June 30, 2026.
Annual dividend per share for 2025 was KRW 1,200 (vs KRW 1,150 in 2024). Quarterly dividends expected to continue in 2026.
Total borrowings KRW 198.7 billion, net debt KRW 173.3 billion, debt-to-equity ratio 78.45%. Cash equivalents KRW 25.4 billion, up from year-end 2025.
Financial structure remains stable, but revenue and sales are declining. New majority shareholder's strategic direction is a key focus.