BTB Korea's Q1 Sales Plunge, Swings to Operating Loss; Financial Health Deteriorates

Sales fell 41.0% YoY to 5.91 billion KRW from 10.02 billion
Operating loss of 1.73 billion KRW (vs. operating profit of 0.34 billion a year ago)
Net loss of 1.68 billion KRW (vs. net profit of 0.28 billion)
Debt ratio increased to 88.8% (year-end 82.1%); net debt ratio 39.6% (year-end 30.2%)
Cash and cash equivalents down 28.4% to 4.05 billion KRW from 5.66 billion
No shareholder return policies such as share buyback/cancellation or dividends
Post-report, board approved 5:1 stock consolidation (face value from 100 KRW to 500 KRW)