OCI posted third-quarter consolidated revenue of 599.1 billion won and operating profit of 30.3 billion won, swinging out of the loss of a year earlier. Revenue rose 25.8% from the same quarter a year ago.
Announcing its third-quarter results on the 28th, OCI said cumulative operating profit for January to September reached 101.4 billion won, the largest for the same period since the 2023 spin-off.
Compared with the previous quarter, revenue rose 12%, thanks to higher sales of semiconductor materials and pitch and higher carbon black prices. Operating profit, however, fell 30% as the exchange rate declined and spreads on some products narrowed.
By segment, the Basic Chemicals division, which includes semiconductor materials, posted revenue of 212.6 billion won and operating profit of 9.7 billion won. Basic materials were weak because of lower chlor-alkali prices, but both revenue and operating profit grew in semiconductor materials. The company expects the growth trend in semiconductor materials to continue in the fourth quarter, when downstream semiconductor demand is rising.
The Carbon Chemicals division recorded revenue of 397.3 billion won and operating profit of 29 billion won. It raised carbon black prices to reflect the rise in oil prices in the previous quarter, and pitch sales volume also increased. The company expects fourth-quarter results to dip somewhat as scheduled maintenance raises costs, but profitability to remain stable as the average pitch selling price stays firm.
OCI is shifting its business portfolio toward semiconductors and high-value-added materials. It has been carrying out efficiency measures since last year and recently exited the loss-making TDI business. In line with growth in downstream semiconductor industries, it is expanding production capacity for core materials and upgrading products, and has also set a goal of commercializing a wafer reclaim business for semiconductor packaging in 2028.
"Even amid global economic uncertainty, we maintained a profitable trend thanks to growth in semiconductor materials and stable results in the Carbon Chemicals division," said Kim Yu-sin, OCI vice chairman. "Beyond responding to short-term market fluctuations, we will strengthen profitability by improving the business structure and investing in future growth businesses at the same time."