OCI Holdings swings to second-quarter profit on chemical price gains

OCI Holdings said Thursday it swung to an operating profit in the second quarter, driven by rising prices for basic chemical products such as CA and TDI alongside higher costs linked to crude oil.

The conglomerate posted operating income of 108 billion won ($75.6 million) for the three months ended June 30, reversing a loss from the same period a year earlier, while revenue climbed 31.8 percent to 1.02 trillion won ($716 million). Net income reached 60.6 billion won ($42.4 million), compared with a deficit in the second quarter of 2025.

Beyond chemical pricing, OCI Energy is scheduled to recognize revenue in the second quarter from the sale of a 500-megawatt solar project in the United States. The firm expects demand for non-Chinese solar materials to remain firm as the U.S. reduces supply chain dependence on Beijing and power needs for AI data centers grow.

Chemical materials constitute the company's largest revenue segment, accounting for 58 percent of sales in the first quarter before consolidation adjustments. This division produces polysilicon for semiconductors, hydrogen peroxide, pitch, BTX, and PA.

For the first half of the year, cumulative net income totaled 69.5 billion won ($48.6 million) against the prior year's losses, with revenue rising 11.1 percent to 1.92 trillion won ($1.34 billion).