EXA E&C: Consolidated Net Profit Turns Positive in Q1 2026 (Operating Cash Flow Remains Weak)
Q1 2026 consolidated revenue: 56.05 billion won (up 38.7% YoY from 40.41 billion won); net profit 2.19 billion won (vs loss of 1.21 billion won in Q1 2025)
Consolidated operating cash flow: -12.57 billion won, worse than -4.07 billion won in Q1 2025 (increase in trade receivables and unbilled receivables)
Total consolidated borrowings and bonds: 35.63 billion won (up from 28.66 billion won at year-end 2025); short-term borrowings surged
Consolidated construction order backlog: 82.94 billion won (down from 113.75 billion won at year-end 2025)
Separate (parent) net profit: 1.30 billion won (vs loss of 2.36 billion won in Q1 2025); accumulated deficit 3.73 billion won
Credit rating maintained at BB (stable); no dividends for the past 10 years
One pending wage lawsuit (1.6 billion won claim, provision recognized)
Fine of 135 million won imposed for violation of Construction Industry Framework Act (Dec 2024)
New business purposes added (medical devices, healthcare, etc.) but no actual progress