STIC Investments (026890) Q1 2026 earnings summary

Executive summary

• Achieved GAAP net income attributable to common shareholders of KRW 3,655mm in 1Q 2026, reversing a loss of KRW 4,436mm in 1Q 2025.

• 1Q'26 LTM Fee Related Earnings (FRE) rose 30.6% YoY to KRW 20,335mm; Total Segment Earnings (TSE) up 2.6% YoY to KRW 19,179mm.

• Distributable Earnings (DE) for 1Q'26 LTM declined 22.0% YoY to KRW 13,594mm.

• Assets Under Management (AUM) decreased 3.3% YoY to KRW 9,698,226mm, while Fee Paying AUM (FPAUM) increased 6.5% YoY to KRW 7,049,645mm.

Financial highlights

• Management fees for 1Q'26 were KRW 14,851mm, down 5.9% YoY; incentive fees increased to KRW 15,421mm.

• Operating profit for 1Q'26 was KRW 4,582mm, compared to a loss of KRW 5,666mm in 1Q'25.

• Net income per share for 1Q'26 was KRW 101, compared to a loss per share of KRW 122 in 1Q'25.

• 1Q'26 LTM capital invested was KRW 1,242,108mm, down 17.7% YoY; new capital raised was KRW 971,187mm, up 12.1% YoY.

Outlook and guidance

• Plans to maintain a flexible shareholder return policy, prioritizing internal growth and capital reinvestment over cash dividends.

• Focus on maximizing total shareholder return through share buybacks, cancellations, and reinvestment.