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Rabat – Morocco’s OCP Group has announced that its revenues hit $2.18 billion in the first quarter of this year, up from $1.95 billion recorded during the same period last year.
In a statement today, the group indicated that its gross profit rose to $1.5 billion, up from $1.27 billion. Meanwhile, its earnings before interest, taxes, depreciation, and amortization, known as EBITDA, remained solid at $756 million compared to $768, citing a “strong EBITDA margin of 35%.”
The group has attributed this strong performance to a pointed increase in the global demand for fertilizer, which has remained strong throughout the past months.
This has been reflected through an ongoing recovery in Europe, as well as increased imports by African countries, like Ethiopia.
Demand also came from Oceania and Brazil.
Explaining these market dynamics, OCP said general demand for phosphate remained strong through continued demand recovery. Acknowledging low global inventory levels, the company also highlighted how indications show that demand will still be strong in the second quarter.
Beyond other markets, India is a key driver of global demand. This will contribute to enhancing demand, especially supporting increased purchasing.
This will necessitate an improvement in the group’s efforts to meet growing global demand.
In addition to enhancing production, OCP also promised to continue to adapt its commercial approach to boost conditions and meet demand.
OCP emphasized that the first quarter of this year delivered a strong start for the group, fueled by higher rock volumes and increased demand for both fertilizers and phosphoric acid.
Stressing the importance of the achievement, OCP said growth in its gross profit was recorded despite rising input costs, including sulfur.
The group’s expeditions experienced a major change compared to 2024, with this latest report indicating that OCP’s expenditures in the first quarter of this year reached $599 million compared with $927 million during the same period last year.
Among the group’s corporate highlights is the completion of a $1.75 billion bond issuance on international markets.
This took place in two tranches, $750 million and 1 billion, with maturities of five years and long 10 years, as well as coupons of 6.10 % and 6.70%, respectively.
“This new bond, oversubscribed by more than 4 times, was the largest order book ever recorded by OCP,” the group announced, noting that this development reflects international investor confidence in its financial strength and long-term growth strategy.
OCP is one of the largest players in the fertilizer sector. The group’s strategy is also focused on African development: its ultimate ambition — and vision — is to help the continent create a sustainable agricultural revolution, enabling it to be self-sufficient in terms of food security.
