WooriNet reports 4.0 billion won operating loss in Q1 2026, continues R&D investment and business restructuring

Consolidated revenue KRW 11.76bn (down 22.5% YoY), operating loss KRW 3.99bn, net loss KRW 3.83bn
Standalone revenue KRW 10.84bn, operating loss KRW 2.71bn, net loss KRW 2.50bn
R&D expenditure KRW 3.13bn (25.8% of sales), holding 21 patents including quantum cryptography
Subsidiaries (Ice Storm 74.48%, BJ Connect 100%) consolidated, expanding defense business
Cash KRW 21.64bn, total borrowings KRW 21.48bn, debt-to-equity ratio 38.0% (sound)
Decided cash dividend for 26th term (dividend payable KRW 511mn)
Litigation: damage claim of KRW 455mn from Korea Railroad Corp. etc. (first trial ongoing, management deems immaterial)
Removed non-core business purposes (blockchain, art, etc.), focusing on telecom equipment

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