MNC Solution Q1 2026: Revenue and Profit Decline but Solid Order Backlog

Q1 2026 revenue KRW 66.07B (vs KRW 75.10B in Q1 2025, -12.0%), operating profit KRW 7.97B, net profit KRW 6.12B (vs KRW 7.90B, -22.5%), EPS KRW 668 (vs KRW 863)
Debt ratio 122.03% (up from 106.95% at year-end 2025), cash & equivalents KRW 86.04B
R&D expenditure 4.93% of sales (vs 2.09% in prior year), holding 10 patents
Major order backlog: large contracts with Hanwha Aerospace and Hyundai Rotem (Poland K9PL, Chunmu launcher, etc.)
Credit rating BBB (stable), quarterly financial statements not reviewed by external auditor
Dividend policy: target 50% of net income as cash dividend (no dividend declared for this quarter)