Tuksu Engineering: Q1 2026 Revenue and Operating Profit Up, but Debt Ratio Increases
Consolidated Q1 2026 revenue KRW 53.2B, operating profit KRW 2.6B, up 16% and 297% YoY respectively (prior year net profit included one-time asset disposal gain of KRW 16.2B).
Separate revenue KRW 42.3B, operating profit KRW 1.3B, net profit KRW 1.7B.
Change in useful life of construction equipment (5→10 years) reduces annual depreciation by approximately KRW 6B.
Dividend paid of KRW 0.51B (KRW 29 per share, 5.8% of par value).
Increase in short-term borrowings raised consolidated adjusted debt ratio to 34.35% (from 12.23% at year-end 2025).
5th convertible bond (face value KRW 12B, conversion price KRW 7,020) outstanding balance KRW 6.86B, derivative liabilities KRW 5.22B.
Subsidiary merger resulted in goodwill of KRW 0.35B and company name change.
Order backlog of major projects KRW 393.2B (down 11% from previous quarter).
Credit rating A (Korea Data), valid until June 30, 2026.