The Moroccan phosphate giant, OCP, has just announced its financial results for the year 2022. Results which have recorded remarkable progress despite a difficult international context due to political and economic tensions weighing on the markets. Thus, its turnover increased by 36% compared to the previous year, to reach more than 114.5 billion dirhams.
This performance mainly reflects higher selling prices in all three segments which more than offset lower sales volumes.
For fertilizers, turnover increased by 44% compared to last year, thanks to higher sales prices, which offset the impact of lower export volumes. Less favorable economic conditions for farmers, linked to higher prices, have led to a drop in global demand.
Operating income amounted to more than 40 billion dirhams, up significantly from the 26 billion dirhams achieved last year.
Net financial debt, for its part, amounted to 51 billion dirhams. For the management of the group, OCP recorded an exceptional operational and financial performance supported by the increase in the prices of its products in all categories, as well as its constant efforts to optimize its production costs and operational efficiency.
Faced with international challenges, OCP claims to have shown great resilience by maximizing the benefits of this upward trend, while adjusting its production to adapt to demand. The group notes that thanks to efficient management, the company managed to cope with the anticipated fall in prices in the second half of the year.
According to the group’s management, this strategy has been crowned with success, testifying to the company’s solid position in these expanding markets, as well as its ability to adapt to the needs of its customers.