Q1 Sales Surge 61%, Operating Profit 325.6B Won, Net Cash 195.7B Won

Consolidated quarterly sales of 133,461 million KRW (up 61% YoY), operating profit 32,564 million, net income 28,148 million
Order backlog at period-end 1,339,020 million KRW (increase from prior year-end)
Zero net debt, net cash of 195,715 million KRW (very sound financial structure)
Corporate credit rating upgraded to A- (Korea Data, Ecredible)
Won second-instance lawsuit against Defense Acquisition Program Administration; related receivables recovered leading to reversal of impairment losses
Completed sale of Naedong plant (70 billion KRW), improving liquidity and financial structure
Liquidation of subsidiary STX HI Malaysia completed (minor loss)
R&D expenses 7,041 million KRW (5.3% of sales), continued investment in eco-friendly engine technology