OCP Achieves Turnover of MAD 12,270 Million at the End of March

29 mai 2020 Printable Version

Casablanca - OCP S.A, a major player in the fertilizer industry, achieved a turnover of MAD 12,270 million, slightly below the MAD 12,422 million recorded during the same period of the previous year.

This achievement was supported by strong export volumes, OCP said in a statement on its Q1-2020 results, noting that increased fertilizer exports to key markets were offset by lower prices compared to the first quarter of 2019.

Compared to the fourth quarter 2019, sales increased by 5%, mainly due to higher sales volumes and a slight recovery in prices at the beginning of the year thanks to higher demand, the Group said.

For its part, the gross margin stood at 7,539 million dirhams, against 8,372 million dirhams in the first quarter of the previous year, leading to a drop in the margin rate to 61% compared to 67% at the end of March 2019, added the same source, noting that this decline is mainly due to the drop in fertilizer prices, which was only partially offset by the drop in sulfur and ammonia prices.