Sambo Motors 1Q 2026: Profit Decline, Credit Rating Upgrade

Consolidated 1Q26: Revenue 429.3B won (+4.1% YoY), Operating profit 13.8B won (-40.7%), Net income 7.7B won (-60.9%)
Separate: Revenue 120.6B, OP 2.4B, NI 5.0B (YoY improvement)
Credit rating upgraded to BB+ by NICE (from BB0)
Adjusted debt ratio 171.4% (up from 163.7% at year-end)
Subsidiaries lost lawsuits and are appealing (contingent liabilities ~1.53B won, EUR 1.92M)
Shares increased to 25,301,951 due to CB conversion (dilution)
No share buyback/cancellation or dividend announcement