OCI Holdings Reports Decline in 2023 Net Income by Over 20 Percent

SEOUL — OCI Holdings Co. reported a downturn in its financial results for the year 2023, with net profit decreasing by 20.3 percent to 699.2 billion won (US$526.7 million). The company disclosed in a regulatory filing that its operating income for the year dropped by 29.6 percent to 530.9 billion won. Additionally, its annual sales saw a 4.3 percent decrease, totaling 2.64 trillion won.

According to Yonhap News Agency, The decline in OCI Holdings' net income and operating profit highlights the financial challenges faced by the company over the past year. The reduction in sales further underscores the broader impact on the company's revenue streams, marking a year of decreased financial performance.

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