BGFecomaterials Q1 2026: Consolidated Revenue Down, Separate Net Income Up

Credit rating A- (NICE) maintained, same rating for 3 consecutive years.
Consolidated Q1 2026 revenue 92.8B KRW (down 6.3% YoY from 99.0B), operating profit 3.2B (down 33% from 4.8B).
Consolidated net income attributable to controlling 3.95B (up 6.7% from 3.70B YoY), EPS 64 won (60 won).
Separate revenue 51.8B (up 16.6% from 44.4B YoY), net income 4.92B (up 130% from 2.14B).
Completed absorption merger with Daewon Chemical in Oct 2025, impacting consolidation scope.
Subsidiary BGFecospecialty decided to invest approx. 150B KRW in anhydrous hydrogen fluoride production facility (by 2026).
Derivative liabilities related to BGFecosolution put option: 7.3B (consolidated) and 26.7B (separate).
2025 final dividend of 3.096B KRW (50 won per share) paid in Apr 2026; no share buyback/cancellation plan.
Debt ratio increased to 58.7% (from 56.4% at year-end 2025), financial leverage expanded due to increased borrowings.