HS Hyosung Advanced Materials Q1 2026 Operating Profit KRW 34.4B; Steel Cord Sale Withdrawn

Q1 2026 consolidated revenue KRW 829.0B (down ~1% YoY), operating profit KRW 34.4B (down ~50% YoY), net profit attributable to parent KRW 6.9B (swing from net loss in prior year period)
Industrial materials segment revenue KRW 857.3B (103.4% of total), operating profit KRW 23.8B; textile segment revenue KRW 88.2B, operating profit KRW 10.4B; other segment revenue KRW 21.6B, operating loss KRW 2.3B
Steel cord business sale process with Bain Capital withdrawn on April 3, 2026 (previously selected as preferred bidder)
Entry into silicon anode materials: decided to invest EUR 120M for stake in Umicore subsidiary EMM, EUR 60M already converted to equity
Consolidated debt-to-equity ratio 357% (liabilities KRW 3.27T, equity KRW 0.91T); cash and cash equivalents KRW 75.1B
Guarantees for subsidiaries increased to KRW 1.71T from KRW 1.62T at beginning of period
Derivative losses: fair value loss KRW 1.4B, transaction loss KRW 5.3B
R&D expenses KRW 9.3B (1.12% of revenue), 27 patents commercialized
Inventory as of end-March 2026: KRW 612.9B (14.7% of total assets)