OCP Group: Solid performance in the first quarter of 2024

Hibapress

The turnover (CA) of the OCP group reached 19.58 billion dirhams (billion dirhams) at the end of March 2024, compared to 18.28 billion dirhams in the same period of the previous year, thus achieving another quarter of solid performance. .

“This increase is mainly explained by higher export volumes, which more than offset the impact of lower prices compared to the first quarter of 2023,” explains the Group in a press release.

The gross margin, for its part, amounted to 12.705 billion dirhams, compared to the 9.076 billion dirhams recorded the previous year, notes the same source.

This increase was supported by higher incomes and reduced input costs, notably for ammonia and sulfur, the prices of which fell significantly compared to the previous year’s levels. The gross margin increased to 65%, compared to 50% for the same period in 2023.

Regarding earnings before interest, taxes, depreciation and amortization (EBITDA), it stood at more than MAD 7.7 billion in Q1-2024, compared to MAD 4.68 billion at the end of March 2023, reflecting the effectiveness of reduction initiatives. of the Group’s costs and resulting in a solid EBITDA margin of 39%.

Regarding investment expenditure, they reached 9.3 billion dirhams in the first quarter of 2024, compared to 5.64 billion dirhams in the same period in 2023.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button