KT&G (033780.KS) Q1 2026: Tobacco Exports Drive 28% Profit Surge to ₩364.5B
Overseas cigarette expansion and a weaker won push operating margin to 21.4%, but a ₩182.3 billion non-cash FX translation gain inflates headline net income — recurring earnings power tracks the 27.7% operating profit gain, not the 46.6% net figure.
Source: Q1 2026 Quarterly Report (40th Fiscal Year, January 1 – March 31, 2026) — Filed 2026 with DART | Consolidated Financial Statements | Unit: ₩ billions
