OCI Holdings Company (A010060) investor relations material

Executive summary

• Q1 2026 consolidated revenues reached KRW 892 billion, up 10.1% QoQ, with operating profit at KRW 11 billion and net profit at KRW 9 billion, despite external uncertainties from the U.S.-Iran conflict and rising oil/raw material prices.

• Major subsidiary OCI Company exceeded earnings plans due to higher ASPs, while OCI TerraSus posted a loss from scheduled maintenance and inventory valuation losses.

• Profitability was supported by higher ASP in Carbon Chemical products, but impacted by shutdown maintenance at OCI TRS.

• Consolidation and ramp-up of NeoSilicon Technology increased assets and working capital.

Financial highlights

• Total assets at end-Q1 2026 were KRW 8.2 trillion, liabilities KRW 3.3 trillion, and equity KRW 4.9 trillion.

• Debt-to-equity ratio stable at 67.5%; net debt ratio increased to 20.1% due to CapEx and working capital for NeoSilicon Technology.

• Operating profit margin declined to 1.2% from 3.4% in Q4 2025; EBITDA was KRW 77 billion, down 15.3% QoQ.

• Operating profit remained positive on a consolidated basis.

Outlook and guidance

• OCI TerraSus expects normalized production and sales in Q2 after maintenance, with stabilized costs and sales volumes to rise after Section 232 announcement.

• OCI Enterprises anticipates Q2 revenue and earnings boost from a 500 MW project sale and aims to sustain performance via a sales mix shift.

• OCI SE and DCRE expect normalized performance in Q2, though DCRE may see lower operating profit due to landholding tax and plans pre-sales for Complex 9.

• Chemical and materials division performance expected to improve further in Q2, supported by high oil prices and restructuring.

• OCI expects profitability expansion on favorable pricing for Basic Chemical products.