The OCP group posted positive results for its financial year to September 2020 despite a difficult context linked to the coronavirus pandemic. Its turnover reached 41.7 billion dirhams, a result close to the previous year.
At the end of September 2020, the OCP Group posted “solid operating results and markedly improving margins”, announces the group in a press release sharing the figures for the group’s financial year.
While international prices have fallen sharply due to the current context of the coronavirus pandemic, the group has managed to maintain stable results thanks to industrial and commercial flexibility but above all thanks to a significant increase in export volumes. ‘fertilizer.
In September 2020, the turnover reached 41.7 billion dirhams against 42.5 billion dirhams at the end of September 2019,
In addition, its EBITDA, or its profit before interest, reached 13.7 billion dirhams against 13.1 billion dirhams at the end of September of the previous year, at a time when the international context experiencing a drop in Chinese exports caused by an increase in local consumption and export restrictions linked to the pandemic.
OCP’s EBITDA recorded an increase of 4% as of September 2020 with a margin of 33% compared to 31% for the 2019 financial year for the same period. The OCP group has also put 6.4 billion dirhams in investment spending.
While the covid-19 health crisis was in full swing, DAP prices fell by around 15% over the first 9 months of 2020 compared to 2019. With the fall in prices, imports increased especially in India and Brazil.
During this period, the OCP group increased its fertilizer exports by nearly 1.8 million tonnes and continued to serve its customers on the 5 continents, but this increase in exports was mainly directed to Latin America, Europe and India, show the group’s results.