ISTE Q1 2026 Turns to Profit, Order Backlog at KRW 29.6 Billion

Q1 2026 consolidated revenue: KRW 6.4B (-38% YoY), operating profit: KRW 0.53B (+74% YoY, turned to profit)
Order backlog as of Mar 31, 2026: KRW 29.6B (equipment KRW 20.0B, energy KRW 9.6B); additional large order of KRW 23.5B in April
Credit rating downgraded to BB- (ecredit, Apr 15, 2026) from BB; net debt-to-equity ratio 174%
Allowance for bad debts on receivables at 61% (KRW 69.6B allowance on KRW 114.1B gross); 44.4% of receivables overdue >24 months
New business: AI data center server distribution (partnership with Pegatron, business objective added Mar 2026)
FY2025 full-year operating loss of KRW 5.8B; Q1 2026 turnaround to profit
No share buyback/cancellation or dividends

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