M2N 2026 Q1: Operating Profit Down, Shareholder Return via Treasury Stock Cancellation

Consolidated revenue 219.4 billion won (+1.7% YoY), operating profit 7.1 billion won (-7.7%)
Net profit of 0.8 billion won, turning to profit (vs. estimated loss in prior year Q1)
Treasury stock cancellation of 3.5 billion won (board resolution on Feb 12, 2026)
After reporting date, acquired and cancelled 1,851,891 redeemable convertible preferred shares (Apr 17, 2026)
Steel drum segment operating profit improved significantly (0.4B→3.3B), while electronics segment declined (7.5B→4.0B)
Acquired 10 billion won private placement bond from affiliate Leadcorp, received 0.65 billion won dividends

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