Eagle Vet Tech Q1 2026 Strong Results – Revenue and Net Profit Up, Financial Structure Improves

Sales KRW 110.1bn (up 2.7% YoY), operating profit KRW 13.7bn (OPM 12.4%)
Net profit KRW 14.5bn (up 36.7% YoY), EPS KRW 118 (vs KRW 86)
Debt ratio 24.7% (FY2025: 23.2%), net debt ratio 3.1% (FY2025: 4.2%) – improved financial health
Overseas sales surged 89.3% (Africa +263%, Oceania +91%)
Equity method gains from associates (Gorilla Feed, Eaglevet Uganda)
Litigation risk: KRW 0.22bn (damage claim, ongoing)
KRW 1.78bn exchangeable bond issued (366,986 treasury shares as underlying) – potential dilution but offset by treasury shares