Revenue up 60% but net loss widened due to 4.5B derivative loss, net debt ratio 133%
Q1 2026 consolidated revenue KRW 17.16B (up 60.7% YoY) but net loss of KRW 3.22B due to non-operating losses including KRW 4.54B derivative valuation loss (vs net loss KRW 0.87B YoY)
Net debt ratio surged to 133.27% (from 92.17% at year-end), total borrowings increased to KRW 65.64B (from KRW 38.83B)
Correction on outstanding CB: after conversion of 2nd series (KRW 5B), remaining 1st and 3rd series total KRW 10B, conversion price KRW 15,800, residual shares 632,912
Order backlog of KRW 145B (residential 87.9%), ongoing public housing projects (Uiwang 381 units, 22F)