Vitzrosys Q1 2026 Earnings Improve, CB Repayment and Stock Split Strengthen Financial Structure

Q1 2026 consolidated revenue KRW 15.3bn (+66.8% YoY), operating profit KRW 0.75bn (+39.8% YoY), net profit KRW 4.68bn (swing to profit).
Conversion of 13th CB KRW 0.5bn (Apr 17), early redemption of 15th CB KRW 1bn (Apr 27) reduce CB balance.
5:1 reverse stock split (resolved Mar 27, effective Apr 28) reduces outstanding shares; trading resumes May 18.
Major orders: Gyeongbu line PSD KRW 25.3bn, Shin Hanul NPP KRW 4.1bn, SRT integrated info KRW 14.6bn.
Debt ratio 135.1% (vs 180.7% prior), net debt to equity 28.2% (vs 21.6%).
Pending lawsuits: LH KRW 0.1bn, Seoul Metro KRW 4.6bn.
New businesses (cosmetics, coffee, etc.) under development, no revenue yet.