Revenue fell 6% from a year earlier, while operating profit jumped 171.4%.
OCI attributed the profit gain to higher selling prices for key carbon chemicals products and restructuring effects, including the merger with P&O Chemical and the liquidation of OJCB, its carbon black production unit in China.
By segment, the basic chemicals division, which includes semiconductor materials, reported revenue of 184.7 billion won and operating profit of 1.4 billion won. Results fell from the previous quarter due to lower sales volume of polysilicon for semiconductors tied to customer delivery schedules, as well as scheduled maintenance for products including caustic soda (CA) and TDI.
The carbon chemicals division posted revenue of 336.1 billion won and operating profit of 31.7 billion won. OCI said higher product prices amid stronger oil prices, along with increased pitch sales volume, drove sharp gains in both revenue and profit. It said it expects solid profitability to continue in the second quarter, supported by firm oil prices and stable supply and demand based on the use of steelmaking raw materials.
OCI said it aims to make this year a turning point for improving profitability and strengthening its mid- to long-term growth base. In semiconductor materials, it plans to pursue earnings growth by expanding sales of key products including polysilicon, hydrogen peroxide and phosphoric acid, supported by capacity expansion.
The company said a 5,000-ton expansion of phosphoric acid capacity is scheduled to be completed in the third quarter of 2026, and it is also reviewing additional expansion to prepare for longer-term demand growth.
OCI also plans to ramp up mass production in the second half for specialty materials used in silicon anode materials for secondary batteries, based on a long-term supply contract with Nexeon.
Vice Chairman Kim Yushin said external uncertainty remains high due to geopolitical risks such as the recent war in the Middle East, but the company will sustain its recovery by responding flexibly to markets and diversifying raw material sourcing.
“Based on stable profits from basic materials and carbon chemicals, we will generate results in new businesses such as semiconductor materials,” Kim said.
* This article has been translated by AI.
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