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ECONOMY – Indicators in the green. At the end of September 2018, OCP recorded double-digit growth in earnings. The results published this Thursday, November 29 report a turnover up 14% over the same period of the previous year (41,100 billion dirhams).
The phosphate group's gross margin reached 27.784 billion dirhams, against 23.598 billion dirhams, and was supported by growth in volumes and sales prices. Ebitda, the indicator measuring the profitability of the operating cycle, rose by 27%, while Ebitda's margin reached 31% compared with 28% a year earlier.
Fertilizer sales revenue continued to grow, reaching 56% in the first nine months of the year, compared with 53% for the same period in 2017. Fertilizer sales increased 23% compared to the same period of 2017 and those of acid 15% thanks to the price improvement in both segments as well as the increase in volumes.
Exports up
OCP exports increased to most regions, particularly to Asia and the Americas. This growth can be explained by several factors: strong demand in the United States following the reduction in production capacity in the country; a slight recovery in Brazilian imports and an increase in imports in India, where lower inventories and reduced local production due to environmental pressures boosted demand.
Thanks to the continuous ramp-up of the pipeline, the cost savings made on the rock transport since the beginning of the year amounted to 1.568 billion dirhams, against 1.260 billion dirhams for the same period of last year. The total savings generated since the installation of the pipeline in April 2014 amounted to 5.469 billion dirhams.
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