MX On Q1 2026: Turnaround to Profit, Order Backlog at 182.7B Won

Consolidated Q1 2026 (Jan-Mar): Revenue 36.0B KRW, Operating Profit 0.5B KRW (vs. FY2025 loss of 5.8B), Net Profit 1.7B KRW (vs. FY2025 loss of 2.8B).
Standalone Q1 2026: Revenue 9.0B KRW (similar to Q1 2025 9.1B), Operating Profit 1.7B KRW (vs. 1.9B), Net Profit 1.5B KRW (vs. 1.5B).
Logistics automation order backlog at 182.7B KRW (domestic 27.6B, overseas 155.2B).
Debt ratio 65.33%, net debt ratio 15.50%, cash 14.0B, borrowings 33.0B.
R&D expenditure 1.25B KRW (3.47% of revenue), new businesses: Soft PLC 'MuLiN' and robot controller joint development.
Credit rating A- (Ecreditable), FY2025 cash dividend payout ratio 57% but no dividend in current quarter.

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