SILLA SG Q1 Sales Up but Operating Loss Widens; Net Loss Narrows

Sales: 17,633 million KRW (up 7.2% YoY)
Operating loss: 581 million KRW (loss widened from 540 million KRW in Q1 2025)
Net loss: 263 million KRW (improved from 752 million KRW loss YoY) / Includes gain on sale of assets held for sale of 460 million KRW
EPS: -66 KRW (vs -188 KRW in Q1 2025)
Debt ratio: 238.5% (vs 219.8% at end-2025)
Total borrowings: 23,252 million KRW; Net debt: 19,334 million KRW
Cash & cash equivalents: 1,803 million KRW (vs 869 million at end-2025)
Allowance for trade receivables: 554 million KRW (14.9% of gross receivables)
Full impairment on loans of 1,813 million KRW
Subsidiary Silla S&D has negative equity of 855 million KRW
Credit rating: A7 (Hana Bank, unchanged)
No dividends or share buybacks/cancellations
No contingent liabilities or material litigation