OCP Group’s turnover reached more than 114.57 billion dirhams (MMDH) in 2022, up 36% compared to that achieved a year earlier.
“Over the whole of 2022, the Group’s turnover reached a record level at 114,574 million dirhams, benefiting from an increase in average prices compared to 2021”, indicates the world leader in the fertilizer market in a statement. In the fourth quarter of 2022, turnover reached 25.03 billion dirhams, once morest 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 resulted in lower prices and a contraction in demand. In addition, the Group indicates that it will continue its investment efforts with expenditure reaching 4.85 billion dirhams in the fourth quarter of 2022 once morest 6 billion dirhams in the same period of the previous year. Investment expenditure totaled 20.01 billion dirhams at the end of 2022, compared to 13.13 billion dirhams in 2021.
