Consolidated Q1 revenue decreased 6% YoY to KRW 92.1bn, operating profit turned to KRW 2.8bn (vs. loss in prior year period).
Net profit attributable to owners was KRW 35.2bn, a significant improvement from net loss in Q1 2025, including one-off gain of KRW 34.3bn from investment property disposal.
Retired 848,701 treasury shares on March 31, implementing shareholder return policy within distributable profits.
Total liabilities decreased by KRW 35.3bn to KRW 359.6bn, total equity increased by KRW 34.6bn to KRW 130.7bn, improving financial structure.
Cash and cash equivalents decreased to KRW 20.2bn, trade receivables and inventories increased.
R&D expenses increased to KRW 3.9bn (4.2% of sales).
Key risks: derivative liabilities of KRW 98.5bn (put options etc.), patent lawsuit with Charter Communications (USD 20.16mn), equity-method losses of KRW 4.4bn.
Subsequent events: 10:1 stock split, expected cash inflow of approx. KRW 8.75bn from capital reduction of investment.