Nuon Reports KRW 2.07B Operating Loss in Q1 2026, Completes 90% Capital Reduction

Consolidated Q1 2026 revenue KRW 136.4bn (up 106% YoY from KRW 66.2bn), operating loss KRW 2.07bn (improved from KRW 4.46bn loss in Q1 2025)
Net loss KRW 7.22bn (controlling interest KRW 7.19bn), improved from KRW 14.06bn loss in Q1 2025
Completed 90% capital reduction (10:1 reverse stock split) in April 2026; shares reduced to 6,365,430
Early redemption of all outstanding convertible bonds (KRW 2.8bn) completed
Sale of discontinued machinery business assets completed; discontinued operations loss KRW 0.39bn
Equity method loss from associate Telcon RF Pharmaceutical KRW 2.17bn
Cash and cash equivalents KRW 10.99bn (down from KRW 17.36bn at year-end); net debt negative KRW 7.34bn (cash exceeds debt)
Accumulated deficit KRW 155.86bn; total equity KRW 87.08bn
Material uncertainty related to going concern noted in 2024 and 2025 audit reports
No dividend or share buyback/ cancellation plans