NFC Q1 2026 Revenue Up 2.2x, Turns Profitable, Net Cash Position

Revenue 22.2B KRW (up 96% YoY), operating profit 4.0B KRW turnaround to black, net profit 3.5B KRW.
Net debt ratio -9.74%, turning to net cash (from 5.76% net debt at year-end 2025).
Credit rating BBB (Korea Rating & Data, downgraded from BBB+ in May 2025).
Decision to pay 2025 year-end cash dividend (maintaining payout ratio of at least 10%).
No share buyback or cancellation plan.
R&D expenses 0.34B KRW (1.51% of sales), decreased from same period last year.
Tangible assets pledged as collateral (land & buildings 27.0B KRW, borrowings 13.0B KRW).