Bolak Q1 2026 Net Profit Up 126%, Dividend Increased and Financial Structure Improved

Net profit of 543 million KRW (126% increase from 240 million in prior year Q1), EPS 9 KRW (vs 4)
Revenue decreased 14.1% to 11.21 billion KRW but gross profit increased 28.4% to 2.05 billion due to lower COGS
Operating profit of 557 million KRW (improved from prior year Q1)
Dividends: accrued dividends of 419 million KRW, up 40% from 300 million in prior year, increased shareholder return
Net debt ratio -13.51% (net cash), cash equivalents 6.85 billion, total borrowings 1.03 billion
Total equity 48.88 billion (up from 48.73 billion at year-end), debt ratio 19.5%
Inventories 12.55 billion (down from 12.87 billion), inventory valuation loss of 515 million recognized
Related party transactions: sales to Namyoung Sangsa 154 million, lease liabilities 49 million
R&D expenses 310 million (2.77% of revenue), 2 patents held