Macquarie Korea Infrastructure (088980) Q3 2026 earnings summary

Executive summary

• 3Q 2026 non-consolidated revenue was KRW 75,433mn and net income KRW 58,560mn, down 2.6% and 2.4% YoY, mainly on lower dividend income.

• Portfolio comprised 19 Korean infrastructure assets, with KRW 3.0tn invested across roads, port, rail, city gas and digital infrastructure.

Financial highlights

• 3Q revenue was KRW 75,433mn vs KRW 77,462mn; net income was KRW 58,560mn vs KRW 59,981mn, and EPS was KRW 122 vs KRW 125.

• Jan–Sep revenue was KRW 335,454mn, down 5.3% YoY; net income was KRW 283,610mn, down 6.6%, and EPS was KRW 592 vs KRW 634.

• 3Q interest income was KRW 71,309mn vs KRW 71,036mn; dividend income fell to KRW 4,122mn from KRW 6,426mn.

• Jan–Sep expenses were KRW 51.8bn vs KRW 50.8bn; interest expense rose to KRW 14.5bn from KRW 11.5bn.

Outlook and guidance

• Hanam Data Center tenant agreements cover 99% of target IT load of 25.44MW; full contracted rent revenue is expected after operational ramp-up, targeted for mid-2027.

• Capital strategy will consider future investment size, financial soundness and market conditions following the PPP Act amendments.