OCI said Wednesday that it recorded revenue of 599.1 billion won and an operating profit of 30.3 billion won on a consolidated basis for the third quarter of this year. Revenue increased by 25.8% year-on-year, while operating results turned to a profit.
Compared with the previous quarter, revenue rose by 12%, driven by expanded sales of semiconductor materials and pitch, as well as higher carbon black selling prices. Conversely, operating profit declined due to falling exchange rates and narrowing product spreads for benzene, toluene, and xylene (BTX) and toluene diisocyanate (TDI). Cumulative operating profit for the first three quarters of this year marked a record high for the same period since the human division in 2023.
The Basic Chemicals segment, which includes semiconductor materials, recorded revenue of 212.6 billion won and an operating profit of 9.7 billion won. While basic materials performance was sluggish due to lower chlor-alkali selling prices, both revenue and operating profit for semiconductor materials increased. The company expects the growth trend in related materials, such as polysilicon for semiconductors, to continue in the fourth quarter of this year, driven by rising downstream demand in the semiconductor sector.
The Carbon Chemicals segment posted revenue of 397.3 billion won and an operating profit of 29 billion won. Performance was supported by increased carbon black selling prices reflecting higher crude oil prices and a rise in pitch sales. While performance is expected to decline slightly in the fourth quarter due to rising costs from regular maintenance, the company forecasts that the strong trend in average selling prices for pitch will continue.
OCI is restructuring its business portfolio around semiconductors and high-value-added materials by divesting low-profitability businesses. Following ongoing efficiency efforts based on profitability and growth potential by business line, the company recently decided to discontinue its TDI business, which has been in the red for an extended period.
The company will expand production capacity for semiconductor materials. It plans to boost revenue and profitability for hydrogen peroxide for semiconductors by increasing utilization rates, and to expand its high-value product lineup for phosphoric acid through increased production capacity and the development of specialty etchants.
As a new growth engine, OCI has selected the wafer regeneration business for semiconductor packaging. Wafer regeneration involves cleaning and polishing wafers used in semiconductor processes so they can be reused. The company aims to complete construction next year and achieve commercialization in 2028.
Vice Chairman Kim Yu-sin of OCI stated, "Despite global economic uncertainty, we maintained a profitable trend thanks to the growth of our semiconductor materials business and stable performance in the Carbon Chemicals segment." He added, "We will strengthen profitability by simultaneously improving the fundamental structure of our business portfolio and investing in future growth businesses."
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