GS Holdings said in an electronic notice released on May 13 that the holding company of GS Group posted 6,842.4 billion won in revenue in the first quarter of this year on a consolidated basis, a 9.88 percent rise over the same period last year.
GS Holdings saw Q1 operating profit and net profit shoot up.
The holding company chalked up 1,258.6 billion won, a 56.68 percent surge over the first quarter of 2025, and 826.7 billion won in net profit, a 183.6 percent year-on-year jump.
GS Holdings saw its first quarter business performance improve compared to the previous quarter.
The holding company saw Q1 sales, operating profit and net profit shoot up 5.47 percent, 62.15 percent and 230.02 percent compared to the fourth quarter of 2025, respectively.
By subsidiary, GS Caltex posted 13,034.7 won in Q1 sales, a 17 percent year-on-year surge, and 1,636.7 billion won in Q1 operating profit, a 1,310 percent year-on-year jump.
The refinery company of LS Group saw Q1 sales increase 17 percent and Q1 operating profit jump 1,310 percent jump over the previous quarter, respectively.
The refinery business saw Q1 sales surge 22 percent year-on-year to 10,348.6 billion won and Q1 operating profit shoot up 1,882 percent year-on-year to 1,528.5 billion won.
The petrochemical business posted 2,120.9 billion won and 35 billion won in operating profit.
The lubricant business saw Q1 sales jump 32 percent year-on-year to 565.3 billion won and Q1 operating profit decline 20 percent year-on-year to 73.3 billion won.
GS Energy saw Q1 sales rise 20 percent year-on-year to 1,991.1 billion won and Q1 operating profit jump 64 percent year-on-year to 1,058.5 billion won.
GS Retails posted 2,854.9 billion won in sales and 58.3 billion in operating profit, while GS P&L chalked up 130.4 billion won in sales and 32.3 billion won in operating profit.
GS EPS logged 401.6 billion won in sales and 32.2 billion won in operating profit. GS E&R posted 341.8 billion won in sales and 48.9 billion won in operating profit while GS Global chalked up 1,099.1 billion won in sales and 12.9 billion won in operating profit.
GS Holdings said, “The consolidated business performance for the year 2026 rose over the same period of last year on the back of temporary inventory effect, caused by the Middle East situation, if the inventory effect is excluded, the refinery business would see refining margin profit decline over the previous quarter, influenced by the maximum oil price system, and petrochemical and lubricant businesses saw overall profitability decline due to product prices’ failure to catch up with crude oil price hikes.”
Crude oil prices are seen to remain volatile in the wake of the Middle East situation in the second quarter of the year, so the direction of the refinery business’s business performance will be decided according to how to cope with these uncertainties, the holding company said.
GS Caltex’s AI-Oriented Strategies Pay off
GS Caltex has halved the equipment check-up time using AI and increased the number of executives and staff members using an in-house generative AI platform to 2,800.
The AI innovation is owed to the refinery company’s field-oriented AI strategies in which field crew members create and use their own AI.
Lee Eun-joo, head of GS Caltex’s DX Center, presented “AI Transition Journey” under the theme “Field-oriented AI Innovation” at the AWS Summit Seoul 2026, which took place at COEX in Samseong-dong, Seoul, on May 20.
GS Caltex introduced AI technologies to safely operate complex facilities of its Yeosu plant.
To this end, in an initial stage, the refinery company pursed digital transformation by taking a cue outside success stories and a top-down format of startup solutions.
These efforts ended up in failure without field settlement, however.
In order to overcome these problems, GS Caltex changed into an introduction format focusing on field staff members’ participation.
The company has operated its in-house educational program, dubbed “DAX Academy” in which 13 courses, including no-code, data analysis, machine-learning and generative AI are offered and supported a data development environment in which staff members are able to develop their own AI.
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