The company said higher sales at key units helped drive the profit, excluding Malaysia-based OCI TerraSus, which underwent legal restructuring in the first quarter. The units cited were OCI Enterprises, a U.S. solar holding company; OCI SE, which operates the Saemangeum combined heat and power plant; and operating company OCI.
OCI Energy, a unit of OCI Enterprises, contributed to the operating profit increase as remaining proceeds from the sale of the Sun Roper project last year were recognized as revenue, the company said.
OCI Energy is pursuing the sale of a large-scale 500-megawatt project. If related procedures are completed within the second quarter, the company said, it expects to recognize new revenue and profit.
Chairman Lee Woo-hyun said silicon-based technology is increasingly seen as extending beyond terrestrial and space applications into next-generation semiconductors and data infrastructure. “OCI Holdings will take this trend as an opportunity for future new businesses and will continue to enhance product competitiveness so we can meet customers’ next-generation technology shifts, including silicon photonics,” he said.
In the fourth quarter of last year, OCI Holdings reported revenue of 810.6 billion won, operating profit of 27.3 billion won and net profit of 26.6 billion won.
* This article has been translated by AI.
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