Shinsegae Q1 2026 Consolidated Operating Profit Surges 49.5%, Shareholder Returns Strengthened

Consolidated revenue KRW 1.8471 trillion (up 10.9% YoY), operating profit KRW 197.8 billion (up 49.5% YoY)
Net income (controlling) KRW 120.2 billion (up 109% YoY), EPS KRW 13,710
Segment mix: Department store 39.9%, Duty-free 31.9%, Wholesale/retail 27.6%
Shareholder returns: FY25 dividend KRW 5,200/share (30% increase from FY23, achieved early), 200,000 shares bought back and canceled in March 2026, quarterly dividend of KRW 1,300/share (total KRW 11.4 billion)
Financial health: Debt ratio 135% (separate 118%, meeting bond covenant requirements)
Capex: KRW 585.3 billion planned for 2026 (department store KRW 238.3 billion, Dongdaegu complex transfer center KRW 74.1 billion, etc.)
Contingent liabilities: lawsuits of KRW 26.1 billion (not material), debt guarantees of KRW 223.6 billion

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