Contec (451760) Q1 2026 earnings summary

Executive summary

• Provides full-spectrum solutions in the space industry, covering both upstream (satellite and component manufacturing) and downstream (ground stations, data processing, and analytics).

• Operates four consolidated subsidiaries, including a recent acquisition of AP Satellite Co., Ltd.

• Listed on KOSDAQ since November 2023, with a focus on technology-driven growth.

Financial highlights

• Q1 2026 consolidated revenue: KRW 18.2 billion, down from KRW 86.9 billion in FY2025.

• Q1 2026 operating loss: KRW -2.4 billion; net loss: KRW -0.7 billion, a significant improvement from FY2025 net loss of KRW -10.3 billion.

• Q1 2026 EPS: KRW 53, compared to FY2025 EPS of KRW -497.

• Cash and cash equivalents at Q1 2026: KRW 46.1 billion.

• Total assets at Q1 2026: KRW 264.9 billion; equity: KRW 190.2 billion.

Segment performance

• Downstream (ground station systems) contributed 66.85% of Q1 2026 sales; upstream (satellite and components) 17.9%.

• Major customers are diversified, with no single customer exceeding 15.3% of sales.

• Domestic sales dominate, but overseas sales remain significant.