AP Satellite posts wider Q1 operating loss but lays groundwork for share buyback; order backlog at 24.2bn won
Q1 2026 revenue KRW 4.07bn (sharp drop from KRW 10.21bn in prior-year period), operating loss KRW 2.56bn
Net loss KRW 1.29bn (widened from KRW 0.14bn loss in prior-year period)
Total assets KRW 125.5bn, liabilities KRW 22.5bn, equity KRW 103.0bn, cash and equivalents KRW 29.4bn
At March 2026 general shareholders' meeting, approved amendments to articles of incorporation including provisions for share buyback and cancellation (strengthened shareholder return policy)
Order backlog KRW 24.29bn as of end-March 2026, with major projects ongoing
In October 2025, signed a KRW 14.56bn satellite communication terminal supply contract with Inmarsat
In April 2026, completed the Bucheon AIT center, enhancing satellite manufacturing capabilities
Credit rating maintained at A+ (ecreditable)
Key risks: allowance for doubtful accounts on trade receivables of KRW 1.27bn; some impairment loss on inventories of KRW 1.87bn