Third-quarter earnings for 2026

Sales reach 599.1 billion won, up 26% from a year earlier

Cumulative operating profit for first three quarters hits record high since spinoff

Semiconductor materials business grows on rising downstream demand

Company accelerates portfolio shift with new business ventures

OCI headquarters. [OCI]
OCI headquarters. [OCI]

OCI announced Wednesday that it posted consolidated sales of 599.1 billion won ($452 million) and operating profit of 30.3 billion won in the third quarter of this year.

Sales rose 25.8 percent from the same period a year earlier, while operating profit swung to a gain from a loss.

Compared with the previous quarter, sales climbed 12 percent, driven by expanded sales of semiconductor materials and pitch as well as higher selling prices for carbon black. Operating profit fell 30 percent, however, due to a weaker exchange rate and narrower spreads on some products.

By business segment, the Basic Chemicals division — which includes semiconductor materials — posted sales of 212.6 billion won and operating profit of 9.7 billion won in the third quarter.

Earnings from the basic materials segment declined on lower selling prices for chlor-alkali products, but the semiconductor materials segment saw growth in both sales and operating profit. The company said it expects the semiconductor materials segment to continue expanding in the fourth quarter, supported by rising downstream demand.

The Carbon Chemicals division recorded sales of 397.3 billion won and operating profit of 29 billion won, reflecting higher carbon black selling prices that incorporated the previous quarter's oil price increases and stronger pitch sales. The company said fourth-quarter earnings may dip slightly due to higher costs from scheduled maintenance, but it expects stable profitability as average pitch selling prices remain firm.

Cumulative operating profit for the first three quarters of this year reached 101.4 billion won, the highest for the same period since the company's spinoff in 2023.

OCI is reshaping its business portfolio around semiconductor and high-value-added materials. The company has been streamlining operations since last year and recently discontinued its loss-making TDI business.

To keep pace with growth in the semiconductor industry, OCI is also expanding production capacity for key materials and upgrading its product lineup. The company is pursuing new business ventures and aims to commercialize a wafer reclamation business for semiconductor packaging by 2028.

"Despite global economic uncertainty, we maintained a profit-generating trajectory through growth in the semiconductor materials business and stable performance in the Carbon Chemicals division," OCI Vice Chairman Kim Yu-shin said. "Beyond responding to short-term market fluctuations, we will strengthen profitability by simultaneously improving our business structure and investing in future growth businesses."


keg@heraldcorp.com