Caelum Completes Merger with Subsidiary Hana ITM; Q1 Net Profit Up 111%

Completed absorption merger with subsidiary Hana ITM on March 31, 2026 (no new shares issued, 100% stake)
Consolidated sales KRW 26.6bn (down 14.6% YoY), operating profit KRW 0.87bn (down 33% YoY)
Net profit attributable to parent KRW 1.52bn (up 111% YoY, driven by FX gains and other financial income)
Separate: Plant equipment sales KRW 1.14bn, merged aircraft parts segment sales KRW 7.0bn (reflected in consolidation)
Accumulated deficit KRW 27.3bn, total equity KRW 47.0bn (consolidated)
Total borrowings KRW 22.7bn, cash and equivalents KRW 14.3bn, net debt ratio 15.2% (improved from 16.5%)
Subsidiary Kiwi Plus: Smart connectivity sales KRW 18.5bn, net profit KRW 0.18bn
One pending lawsuit (defendant, claim amount KRW 0.44bn)
No dividend or share buyback plan