Visang Education Q1 2026: Revenue +19%, OP +83%, DPS 220 won

Consolidated revenue KRW 104.2B (up 19.1% YoY), operating profit KRW 35.0B (up 83.4%), net income KRW 25.8B (up 13.7%)
Cash dividend of KRW 220 per share declared (total KRW 2.695B, no dividend in prior year period)
Debt ratio improved to 87.79% (from 99.96% at year-end 2025), net debt ratio to 29.61% (from 47.85%)
Publishing segment: revenue KRW 81.1B (up 27.1%), operating profit KRW 37.3B (up 70.0%)
T-learning segment: revenue KRW 21.0B (down 7.7%), operating loss KRW 1.7B (loss widened from KRW 1.4B)
Other segment: revenue KRW 2.2B (up 125.4%), operating loss KRW 0.5B (loss narrowed from KRW 1.4B)
R&D expenses KRW 10.0B (9.6% of revenue, vs KRW 11.5B or 13.1% in prior year period)
Operating cash flow KRW 41.6B in Q1 2026 (up 114.7% YoY)
Treasury shares: 745,226 shares (5.73% of outstanding), to be used for employee incentives or disposal