UST: 1Q26 Sales and Profit Increase, Net Cash Maintained at 24 Billion Won

1Q26 sales KRW 15,983mn (+12.6% YoY), operating profit +26.1%, net profit +11.3%
Cash & cash equivalents KRW 30.1bn, total borrowings KRW 6.1bn → net cash KRW 24.0bn (vs. 25.2bn at FY25 end) – strong net cash position
Credit rating BBB (eCredible, as of Dec 2025)
Year-end dividend of KRW 60 per share (total KRW 1.41bn) paid on Apr 15, 2026
Short-term borrowings surged to KRW 6.1bn (from KRW 0.7bn) due to trade finance (USANCE); cash and inventory also increased
Operating cash flow -KRW 1.05bn (vs. +KRW 4.56bn in 1Q25) due to increased receivables and inventory
Expansion of high-value-added products like ultra-high-purity tubes and high-nickel alloy
Largest shareholder (Hwangeum ST) owns 66.01%, treasury stock 0.79%
Property, plant & equipment additions KRW 2.87bn, depreciation KRW 0.34bn
Inventory KRW 21.8bn (24% of total assets), no impairment loss