FIRSTEC (010820) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was ₩79.3 billion, down from ₩294.8 billion for FY2025 and ₩207.3 billion for FY2024.

• Net income for Q1 2026 was ₩1.68 billion, a significant decrease from ₩14.73 billion in FY2025.

• The company operates a single business segment focused on defense industry products, with 100% of sales from this sector.

• Major customers accounted for 69% of Q1 2026 sales.

Financial highlights

• Q1 2026 operating income: ₩2.28 billion; Q1 2025: ₩10.66 billion.

• Q1 2026 gross profit: ₩5.47 billion; Q1 2025: ₩4.12 billion.

• Q1 2026 EPS: ₩35; Q1 2025: ₩303.

• Cash and equivalents at Q1 2026: ₩64.4 billion, up from ₩50.0 billion at FY2025 end.

• Total assets at Q1 2026: ₩394.5 billion; total equity: ₩82.7 billion.

Outlook and guidance

• The company is investing in future defense and aerospace projects, aiming to enhance its position in unmanned and advanced weapon systems.

• R&D spending increased, with a focus on next-generation technologies and export-driven growth.