Infobank Swings to Profit in Q1 2026 and Decides to Sell Investment Property
Consolidated Q1 2026 revenue KRW 34,042mn (up 9.0% YoY), operating loss KRW 885mn (loss narrowed), net profit KRW 167mn (swung from net loss of KRW 11mn in Q1 2025)
Separate Q1 2026 revenue KRW 26,056mn, operating loss KRW 659mn, net profit KRW 243mn
On April 20, 2026, the board decided to sell investment property (land and building; carrying value KRW 1,642mn, fair value KRW 5,030mn) for efficient asset management and liquidity enhancement
Service segment (messaging, smart car) accounted for 99.1% of revenue but recorded operating loss of KRW 1,058mn; other segment (rental etc.) posted operating profit of KRW 173mn
End-of-period consolidated cash and cash equivalents KRW 11,880mn, borrowings KRW 1,270mn; contingent commitment of KRW 2,440mn for equity investment in associates
Subsidiary Heart Co., Ltd. (45.56% owned) reported net loss of KRW 47mn for the quarter; accumulated unrecognized losses of KRW 1,263mn