Airrane Q1 2026: Revenue and Net Profit Up; New Orders Positive

Q1 2026 standalone revenue KRW 6.34B, operating profit KRW 1.16B, net profit KRW 1.78B (YoY revenue +5.5%, net profit +74.5%)
1:1 free stock issuance on March 10, 2026 increased total shares to 13,603,078 (from 6,801,539)
All 1,373,250 treasury shares were retired in prior year; no treasury shares at end of Q1 2026
Debt ratio improved to 61% from 62% at year-end 2025; borrowings of KRW 7.51B and convertible/bond with warrants of KRW 20B outstanding
Strong performance in gas separation membrane modules and systems; order backlog of KRW 4.41B (clean hydrogen, CO2 capture, biogas, etc.)
Sale of Cheongju plant ongoing (KRW 1.28B, balance due May 2026); new plant from SK IE Technology acquired
R&D spending at 6% of sales; continued expansion in eco-friendly businesses including CCUS and biogas upgrading