Korea Circuit Q1 2026: Strong Earnings, Credit Upgrade, and Merger Completion
Consolidated Q1 2026 revenue: KRW 419.9B, operating profit: KRW 26.4B, net income: KRW 30.1B (favorable quarterly performance vs annual operating profit of KRW 53.8B in 2025)
Credit rating upgraded from BB+ to BBB- (April 16, 2026, by NICE Investors Service)
Completed absorption spin-off merger of TerraNix's PCB business division (Feb 25, 2026), expected to enhance operational efficiency
Approved facility expansion investment: KRW 99.3B for new MSF investment and package equipment expansion (by 2026)
Articles of incorporation amended: increased issuance limit for convertible bonds and bonds with warrants from KRW 50B to KRW 200B (to secure funding flexibility)
Debt ratio improved to 65.34% (from 66.84% at end of 2025)
Consolidated cash and cash equivalents: KRW 62.2B, net debt: KRW 552.6B
Major subsidiaries: Interflex (consolidated quarterly net profit KRW 10.2B), Signetics (quarterly net loss KRW 3.2B)
R&D expenses: KRW 2.4B (0.56% of revenue), developing next-gen technologies such as FCBGA
Minor warning from Financial Supervisory Service (foreign exchange transaction law violation), insignificant