SG&G Q1 2026 Results: Consolidated Revenue and Net Income Up, Debt Expansion

Consolidated Q1 revenue 124.7B won (+8.6% YoY), controlling net income 88.8B won (+28.5% YoY). Operating profit 19.3B won.
Separate Q1 net income 17.3B won, up sharply from 4.3B won YoY, mainly due to reversal of allowance for doubtful accounts of 7.6B won.
Equity method income from associates 74.7B won (vs 67.6B won in Q1 2025), a major contributor to net profit.
Acquired Anseong logistics center from affiliate SG World Logistics for 21.1B won in January. Borrowings increased significantly due to new facility loan of 18B won from Woori Bank (consolidated short-term borrowings 39.3B→40.0B, long-term 1.7B→18.9B). Debt ratio consolidated 20.9% (year-end 2025: 17.3%).
Allowance for doubtful accounts reversed 7.6B won (balance 1.92B won vs 2.68B won at year-end).
Holds 341,110 treasury shares (1.0%). AGM in March approved disposal plan for employee compensation and financial structure improvement, but specific timing undecided. No dividends.
Stock split (reverse) in progress (500 won→1,000 won, record date April 28, 2026), reducing outstanding shares from 34,087,196 to 17,043,598.

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