The OCP group reports a turnover of 25.3 billion dirhams in the first quarter of 2022, up 77% compared to last year. This performance was driven by the increase in selling prices in all categories, largely offsetting the drop in volumes.
The gross margin stood at 15.8 billion dirhams, once morest 9.2 billion a year earlier.
EBITDA stands at 11 billion dirhams, up 117% compared to Q1 2021, driven by the increase in revenue and operational efficiency. This translates into an EBITDA margin of 46% compared to 37% in Q1 2021.
The group’s solid performance in the first quarter points to a year of significant growth and supports the group’s positive outlook this year, OCP said in a statement on Tuesday. Price increases are expected to continue over the year, supported by solid market conditions, reflecting strong global demand, a tight supply situation and rising commodity prices.
OCP plans to increase its production volumes by around 10% in 2022 in order to meet demand in high-growth markets where the group continues to strengthen its position as a world leader. Additionally, OCP continues to invest in environmental and social programs to maintain its positive impact on global food security.
