OCI Holdings Posts Q1 Operating Profit of 10.8 Billion Won, Down 77.7% Year-on-Year
by Jang Bokyeong
Published 23 Apr.2026 16:49(KST)
Sales and Operating Profit Down, But Maintains Profit for Second Consecutive Quarter
Expansion of Solar Business...Rebound Expected in Second Quarter
OCI Holdings announced on April 23 that, on a consolidated basis for the first quarter of this year, it recorded sales of 892.4 billion won, operating profit of 10.8 billion won, and net profit of 8.8 billion won. Compared to the same period last year, sales decreased by 5.9% and operating profit by 77.7%, but the company continued to post a profit for the second consecutive quarter since the fourth quarter of last year.
The company explained that the increase in sales from key subsidiaries, such as OCI Enterprise and OCI SE (Saemangeum Cogeneration Power Plant), excluding its Malaysian subsidiary OCI Terrathus-which underwent legal maintenance in the first quarter-drove these results.
OCI Holdings is pursuing vertical integration from polysilicon production in Malaysia to wafer manufacturing in Vietnam, as a response to policy uncertainties.
OCI Terrathus recently completed the legal maintenance of its solar-grade polysilicon line, a process conducted every approximately 15 months. In the second quarter, the company plans to improve profitability and proactively address global customer demand based on stable operations.
OCI Energy, a subsidiary of OCI Enterprise, is currently in the process of selling an ultra-large-scale 500MW project. If the related procedures are completed within the second quarter, new sales and profit recognition are expected.
OCI Energy currently has a solar project pipeline totaling 7GW, primarily centered in Texas, USA. This portfolio consists of 31 development assets, including 3.9GW in solar power and 3.1GW in energy storage systems (ESS).
OCI Energy previously announced, during its fourth quarter earnings release last year, its goal to secure 15GW of development assets and over 2GW of operational assets by 2030.
Woo Hyun Lee, Chairman of OCI Holdings, stated, "Today, silicon-based technology is increasingly being highlighted for its potential to expand beyond terrestrial and space applications into next-generation semiconductors and data infrastructure." He added, "We will continue to enhance our product competitiveness to keep pace with next-generation technological changes, such as silicon photonics (optical semiconductors)."
Silicon photonics (optical semiconductors) is a technology that transmits data using light instead of electrons. It is considered a next-generation technology capable of processing large volumes of data rapidly, and global big tech companies such as Nvidia are reportedly making significant investments in this field.
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