Ecoplastic: Q1 2026 Consolidated Net Income KRW 4.4bn… Increased Leverage and Weak Subsidiaries

Consolidated Q1 revenue KRW 600.5bn, operating profit KRW 6.8bn, net income KRW 4.4bn (up from annual net income of KRW 2.0bn in prior year)
Standalone Q1 revenue KRW 322.0bn, operating profit KRW 7.4bn, net income KRW 13.7bn
Net debt-to-equity ratio 217% (up from 192% at year-end), high leverage
Key subsidiaries: ECOPLASTIC AMERICA posted Q1 net loss of KRW 13.4bn, AIA net loss of KRW 3.4bn
Credit rating BB+, Watch normal, cash flow grade CF4
Short-term loan to related party Investor United increased to KRW 68.4bn (from KRW 51.5bn)
Largest shareholder Seojin Automotive increased stake to 31.65% (off-market purchase)
Treasury share trust terminated and shares sold to largest shareholder off-market to raise funds for facility investment