Kia Q1 2026 Results: Revenue Up but Operating Profit Plunges, Dividend Increased

Consolidated revenue: 29.5 trillion KRW (+5.3% YoY), operating profit: 2.2 trillion KRW (-26.7% YoY), operating margin: 7.5% (-3.2pp)
Profit decline drivers: US tariff effects, higher overseas incentives, FX valuation losses on warranty provisions due to KRW/USD spike
Debt ratio increased to 70.93% from 61.76% at end-2025
Record global Q1 sales volume, production utilization 94%
2025 annual DPS 6,800 KRW (up from 6,500), TSR target 35% maintained, combined with share buyback/cancellation
Strong liquidity: cash & equivalents 16.1 trillion, short-term financial instruments 7.1 trillion
FX sensitivity: 10% USD change impacts pre-tax profit by ~91.8 billion KRW
Investments in associates: 26.1 trillion KRW (including Hyundai Mobis, etc.)

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