P&H Tech Reports Q1 2026 Sales of 5.56B KRW, Operating Profit 88M… Decrease YoY, First Cash Dividend and Credit Rating Upgrade
Q1 2026 sales of 5.56B KRW, operating profit of 88M KRW, net profit of 161M KRW, down 20.6% and 71.3% respectively from Q1 2025 (sales 7.0B, net profit 561M)
First cash dividend of 200 KRW per share (total 1.99B KRW) for FY2025, funded by transferring 20B KRW from capital reserve to retained earnings
Credit rating upgrades: Ecreditable BB+→BB+, KED BB+→BBB+, Nice D&B maintained BBB- (as of April 2026)
R&D expenses of 1.04B KRW (18.76% of sales), up from 0.74B (10.6%) in Q1 2025; one new government project in progress
All convertible bonds fully redeemed by September 2025, eliminating equity dilution risk
Top 5 customers account for 99% of sales (largest at 68.2%), indicating high customer concentration
Debt ratio slightly increased to 25.41% (from 20.9% at end of 2025), cash and equivalents at 3.93B KRW, no subsidiaries