Dong A Eltek swings to operating profit but net loss widens on derivative losses

Consolidated Q1 2026 revenue KRW 40.87bn (+54.2% YoY), operating profit KRW 4.02bn (vs loss of KRW 3.13bn a year ago), turning to black.
Net loss widened to KRW 17.23bn (vs loss of KRW 4.82bn) driven by KRW 34.38bn in derivative valuation losses (related to convertible/exchange bonds).
Order backlog surged to KRW 612.1bn (from KRW 180.7bn at year-end 2025), led by OLED deposition equipment orders.
Debt ratio rose to 114.7% from 107.8% at year-end, due to increased borrowings (KRW 87.55bn) and valuation losses on convertible/exchange bonds.
Subsidiary Sunic System's credit rating downgraded (Nice D&B: BBB0→BB+, eCredit: BB-→B+).
In Sep 2024, company cancelled 1,920,281 treasury shares; in Nov 2024, executed 100% stock dividend.