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Tuesday, May 21, 2024

Morocco’s OCP Improves Turnover by 36% in 2022

Turnover of Morocco’s OCP Group reached more than 114.57 billion dirhams in 2022, up 36% compared to that achieved a year earlier.

“Over the whole year 2022, the Group’s turnover reached a record level of 114,574 million dirhams, benefiting from an increase in average prices compared to 2021,” the world leader in the fertilizer market said in a statement.

In the fourth quarter of 2022, the turnover reached 25.03 billion dirhams, against 26.65 billion dirhams for the same quarter in 2021. This slight decline is explained, according to the same source, by less favorable market conditions compared to the same period of the previous year, which have resulted in lower prices and a contraction of demand.

In addition, the Group indicates that it will continue its investment efforts with expenditures reaching 4.85 billion MAD in the fourth quarter of 2022 against 6 billion MAD in the same period of the previous year.

Capital expenditure totaled 20.01 billion dirhams at the end of 2022, compared to 13.13 billion dirhams realized in 2021.

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