FIRSTEC (A010820) investor relations material

Executive summary

• Revenue for FY2025 increased by 42.2% year-over-year to ₩294.8 billion, with operating income up 145.2% to ₩10.7 billion and net income up 34.9% to ₩14.7 billion.

• Total assets grew 15.0% to ₩403.1 billion, and equity rose 29.5% to ₩82.5 billion, while liabilities increased 11.8% to ₩320.6 billion.

• The company operates in the defense industry, focusing on weapons and security products, with 64% of sales concentrated among two major customers.

• The audit opinion for FY2025 was unqualified, with no significant issues noted.

Financial highlights

• Gross profit margin improved to 7.7% (₩22.8 billion gross profit on ₩294.8 billion sales).

• Cash and cash equivalents at year-end were ₩50.0 billion, down from ₩94.4 billion, mainly due to negative operating and investing cash flows.

• No outstanding borrowings at year-end; the company maintains a strong cash position.

• R&D expenses increased to ₩1.04 billion, representing 0.35% of sales.

Outlook and guidance

• Management expects continued uncertainty in 2026 due to global monetary tightening and economic challenges.

• Focus remains on cost control, R&D, and strengthening competitiveness to withstand market volatility.