HS Hyosung: Slight Operating Profit Increase in Q1 2026; Steel Cord Sale Cancelled and Contingent Liabilities Expanded

Consolidated Q1 2026 revenue KRW 367.0bn (down 0.7% YoY), operating profit KRW 12.5bn (up 3.8% YoY)
Net profit attributable to controlling interest KRW 7.8bn (up ~47% YoY from KRW 5.3bn in Q1 2025)
Key associate HS Hyosung Advanced Materials (29.72% equity) Q1 revenue KRW 829.0bn, operating profit KRW 34.4bn
HS Hyosung Advanced Materials cancelled sale of steel cord business to Bain Capital (disclosed Apr 3, 2026). No further sale plans
HS Hyosung Advanced Materials investing in silicon anode materials: EUR 120mn in Umicore subsidiary EMM; EUR 60mn converted to equity
Parent company's debt guarantees surged to KRW 259.2bn (from KRW 118.2bn at end-2025) – increased support for affiliates
Standalone Q1 net income KRW 7.8bn (vs KRW 5.7bn in Q1 2025), operating profit turned to positive KRW 6.3bn
Dividend: KRW 1,000 per share for FY2025 (paid). No interim dividend
Short-term borrowings KRW 54.9bn (vs KRW 38.0bn at end-2025); managing liquidity risk

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