CJ CGV 2026 Q1: Revenue up, operating profit surges but net loss continues; hybrid securities issuance to improve debt ratio

2026 Q1 consolidated revenue KRW 573.4 billion (+7.5% YoY), operating profit KRW 8.7 billion (+172% YoY).
Consolidated net loss KRW 25.4 billion (narrowed from KRW 38.1 billion loss in prior year).
Debt ratio 835% (up from 534% at end-2025), net debt-to-equity 194% (96% at end-2025).
Planned issuance of hybrid securities worth KRW 300 billion each in April and May 2026 (if treated as equity, debt ratio expected to fall to ~500%).
Separate net loss KRW 10.0 billion (vs net profit KRW 11.4 billion in prior year).
Minor capital increase from conversion of convertible bonds (813 shares).
Major litigation: 97 cases as defendant (KRW 36.5 billion), 52 as plaintiff (KRW 7.6 billion); management expects no material impact.
Potential drag-along right exercise by financial investor in CGI HOLDINGS.
No dividends since 2019.