'흑자전환'…이랜드리테일, 연간 나가는 이자만 '1000억대'

While Eland Retail achieved Q1 profitability, underlying financial distress remains severe with annual interest expenses (1.38 trillion won) reaching 3.7x operating profit—making true recovery dependent on cash flow improvement, not accounting gains. The company faces compounded risk through 3.5 trillion won in contingent liabilities for affiliated companies' debt, suggesting the group's financial health extends far beyond Eland Retail's standalone results.