OCI Holdings Company (A010060) Q3 2025 earnings summary

Executive summary

• Q3 2025 consolidated revenue reached KRW 845 billion, up 9% quarter-over-quarter, with an operating loss of KRW 53 billion, reflecting sales recovery and reduced losses driven by higher polysilicon and project sales.

• Net loss narrowed to KRW 73 billion compared to the previous quarter, aided by improved subsidiary performance and cost controls.

• Revenue growth was driven by a sharp recovery in OCI TerraSus and strong performance in OCI Enterprises, despite ongoing losses in some subsidiaries due to fixed costs and one-off expenses.

Financial highlights

• Q3 consolidated revenue: KRW 845 billion, up 9% QOQ; operating loss: KRW 53 billion, improved from KRW 80 billion in Q2'25.

• EBITDA turned positive at KRW 8.2 billion, with a margin of 1.0%.

• OCI TerraSus revenue surged 242% QOQ to KRW 132 billion, but operating loss was KRW 65 billion due to shutdown-related costs.

• OCI Enterprises revenue increased 37% QOQ, with operating profit turning positive, mainly from solar project sales.

• DCRE revenue rose 19% QOQ to KRW 105 billion, with operating profit turning positive due to low base effect and accelerated construction.

Outlook and guidance

• OCI TerraSus expects stable sales and improved operating profit next quarter, supported by confirmed orders, normalized costs, and new contracts.

• OCI Enterprises anticipates stronger performance as Mission Solar Energy expands supply to C&I and residential markets, with ongoing project pipeline development.

• OCI Energy's project pipeline remains robust, with no Q4 project sales but strong demand and pricing for ITC-qualified projects.

• DCRE expects continued revenue growth from new pre-sales and project completions.

• Chemical operations expect revenue and profit recovery next quarter, aided by deferred shipments and improving market conditions as the semiconductor industry rebounds.