ISU Petasys Reports Strong Q1 2026: Sales +35% and Operating Profit +41%

Consolidated Q1 2026: Revenue 340.3B KRW (+35% YoY), Operating Profit 67.2B KRW (+41%), Net Profit 50.4B KRW (+32%)
Growth driven by AI server/network infra demand and higher mix of high-value products
Major CAPEX: Total 400B KRW (2025-2028) for new factory (5th) and capacity expansion; 135.4B already invested
Shareholder returns: 2025 year-end dividend 230 won/share (10.7% payout ratio). Medium-term target payout ratio 25-30% by 2029. No share buyback/cancellation plan
Financial health: Debt ratio 69.6% (improved from 70.5%), net debt ratio negative
Risks: Customer concentration (one customer 42.2% of sales). Ongoing lawsuit for deposit refund (16.1B KRW). Net USD exposure 160.7B KRW; 5% USD appreciation would increase profit by 8B KRW
R&D: Developing next-gen PCB technologies for AI accelerators, 1600G networking

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