Welcron 2026 Q1 Weak Performance and Rising Financial Risks

Revenue 59.1B KRW (down 20% YoY from 74.3B), operating profit turned to 0.57B, net loss 2.39B continues
Debt ratio 485%, very high financial leverage, total liabilities 262.3B, equity 54.1B
Contingent liabilities: 19B provision for debt assumption due to failure to meet completion; 10 lawsuits against company (12.99B) with 6.2B provision
Credit rating BB- to BBB (eCredible BB-, Nice BBB-), low investment grade
No shareholder returns: no dividends or share buyback; 984,781 treasury shares disposed via exchangeable bonds