The OCP group recorded a turnover of nearly 32.47 billion dirhams in the first half of the current year, compared to 27.4 billion dirhams in the same period last year. This represents an increase of 19 percent.
Investment expenditures amounted to about 4.3 billion dirhams at the end of last June, compared to 5 billion dirhams in the same period last year.
Investment expenditures amounted to about 4.3 billion dirhams at the end of last June, compared to 5 billion dirhams in the same period last year.
In its detailed financial statement for the first quarter, the group said that this good performance is mainly due to improved market conditions; This contributed to offsetting the slight decrease in sales.
According to the data, the prices of phosphate fertilizers continued to rise throughout the first quarter of the current year, supported by the growth in demand in the main markets and the stability of supply.
The Group's operational efficiencies, as well as the increase in sales prices, offset the increase in sulfur and ammonia costs; This led to an increase in the gross profit margin by 21 percent to 21.17 billion dirhams, compared to 17.48 billion dirhams a year ago.
Commenting on these results, Mostafa El Terrab, President and General Manager of the OCP Group, said that the group continued, during the first six months of 2021, to achieve strong financial and operational performance.
Al-Turab added, according to the financial press release, that “the strengths inherent in the group’s economic model” and “market conditions” “were able to achieve double-digit growth at the beginning of the current year,” noting that “this performance falls within the perspective of long-term investment in growth programs.” and sustainable development”.
Commenting on these results, Mostafa El Terrab, President and General Manager of the OCP Group, said that the group continued, during the first six months of 2021, to achieve strong financial and operational performance.
Al-Turab added, according to the financial press release, that “the strengths inherent in the group’s economic model” and “market conditions” “were able to achieve double-digit growth at the beginning of the current year,” noting that “this performance falls within the perspective of long-term investment in growth programs.” and sustainable development”.
"The industrial flexibility of the group has allowed to adapt production to meet the evolving needs of customers, in particular by reorienting part of exports of fertilizers around acid," explained the CEO of OCP Group.
"Trade flexibility, which we rely on constantly, is a key factor in the group's ability to strengthen its position as a global leader in exports, by responding to the demand of high-growth markets," Al-Tarab said.
The same official stressed that these good results come in the context of the increase in the production of processed phosphates, compared to the first half of last year. This reflects the high demand for phosphoric acid, while fertilizer production witnessed a slight decrease compared to the level of 2020.
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