TES reports strong Q1 2026: Sales KRW 97.2B, OP KRW 22.2B, DPS KRW 850

Q1 2026 consolidated sales KRW 97.2B (+15% YoY), operating profit KRW 22.2B (OPM 22.8%), net income KRW 24.6B (+55% YoY).
Key customers: SK Hynix (64.1%) and Samsung Electronics (35.2%), accounting for 99% of sales, indicating high concentration.
Debt ratio 31.3%, net cash KRW 83.9B; solid financial structure with debt ratio slightly up from 24.4% at year-end 2025.
FY2025 dividend per share KRW 850 (payout ratio 26%), increased from KRW 600 in prior year, enhancing shareholder returns.
157,802 treasury shares disposed due to exchangeable bond conversion; remaining conversion rights 742,198 shares (potential dilution 3.8%).
KRW 9.7B valuation loss on FVTPL financial assets, but offset by KRW 13.4B dividend income, resulting in net financial gain of KRW 4.4B.
R&D expenditure KRW 8.4B (8.6% of sales), continued investment in next-gen equipment (ACL PECVD, EUV, etc.).
Order backlog KRW 145.5B (before deduction of KRW 97.2B delivered), securing future revenue base.

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