Korea Petrochemical Q1 2026 Operating Profit Surges to 73.6B Won, Massive Turnaround - Benefiting from US-Iran War | KOREA PETRO CHEMICAL IND(006650)

Consolidated: Sales 847.1B won, Operating profit 73.6B won (OPM 8.7%), Net profit 67.2B won. One quarter exceeds full-year 2025 results (OP 52.7B, NP 55.9B), showing massive improvement.
Separate: Operating profit 37.7B won (vs -21.3B in FY2025), net profit 52.1B won (vs -45.0B), turned to profit.
In March 2026, US-Iran war and Strait of Hormuz blockade caused naphtha price surge, leading to higher product prices and inventory gains, boosting profitability.
Debt ratio 34.7%, sound financial structure.
Dividend policy: targeting 15% payout ratio on separate net profit for 2025-2027, continuous dividends.
Treasury shares: 323,900 shares (4.98%), no additional buyback or cancellation during the period.
R&D expenses 3.2B won (0.38% of sales).
One pending lawsuit (immaterial), guarantee for subsidiary borrowing 9.6B won.

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