Moroccan Phosphate OCP Profit Increased Sharply

The good start of the year confirms for Youssoufia Phosphates (OCP). Having successfully completed a waiver of $ 1 billion on international markets, the Moroccan phosphates giant realizes beautiful financial performance.

Up 23.4% of revenues

In the first six months, OCP has indeed recorded a turnover of 23.89 billion dirhams, an increase of 23.4% compared to the same period a year earlier, said the group chaired by Mustapha Terrab in a statement.

Other key figures: OCP achieved a net benefit of 3.99 billion dirhams, up 66% and an EBITDA (Earnings before interest, taxes, depreciation and amortization) of 8.6 billion dirhams, up 87% from the same period a year ago.

“Prices are supported by the dynamism of the Indian market”

“Despite short-term turbulence experienced in the phosphate market in recent months, we remain confident about the importance of global demand,” the group founded in 1920.

He added:. “To date, the market conditions were relatively stable prices have been supported by the dynamism of the Indian market, partially offsetting the weak import demand in Brazil and China’s exports of DAP / MAP “.

Expected recovery in Brazilian demand

What about the next six months? “We are reasonably optimistic about the results of the second half because we anticipate a recovery in Brazilian demand following the decline in imports in the first half. We expect sales and EBITDA growth in 2015, following our strategic plan to increase our capabilities while further reducing our production costs, “says the CEO of OCP Mustapha Terrab.