Kukdo Chemical Q1 2026: Revenue Grows 29.7%, Operating Profit Falls, Debt Ratio Rises

Consolidated revenue KRW 413.9 billion (+29.7% YoY), operating profit KRW 10.3 billion (-20.2% YoY).
Epoxy resin segment sales increased but profitability deteriorated due to higher raw material (BPA, etc.) costs.
Debt ratio rose to 122.19% (from 99.64% at year-end), driven by increased short-term borrowings and trade payables.
Net profit attributable to parent KRW 1.5 billion (full year 2025: KRW 21.8 billion).
Cash and cash equivalents KRW 241.1 billion, up 124% from year-end.
R&D expenditure KRW 5.2 billion (1.9% of sales).
Saudi Arabia anti-dumping investigation ongoing but expected to have immaterial impact.