French.china.org.cn | Updated 26-03-2019
The Cherifien des Phosphates Office (OCP) reached a stake in the net profit group (RNPG) of nearly $ 557 million ($ 5.4 billion) in 2018, a 19% increase compared to last year, the second the OCP Group.
Sales rose 15 percent to almost $ 5.8 billion (DH 55.9 billion), driven mainly by sales growth in fertilizer and phosphoric acid, an OCP statement said, adding fertilizer sales rose 20 % and phosphoric acid increased 39%.
EBITDA increased 34% to MAD 17.1 billion, while EBITDA margin reached 31%, compared to 26% in 2017.
According to the same source, this growth was supported by strong revenue growth as well as operational excellence, reflecting OCP's competitive strengths, ie large production capacity and leadership position. in terms of costs, great industrial flexibility, as well as the reinforcement of commercial agility.
Operating profit is more than $ 1 billion (MAD 10 billion), compared to $ 567 million (MAD 5.5 billion) last year, and the group's net debt is reduced by $ 4 billion ($ 43 billion) , 9 billion DH) in 2017 to 3.6 billion USD ($ 35.2 billion) in 2018.
The group's capital expenditure is estimated at more than $ 1.1 billion (MAD 10.8 billion) at the end of December 2018.
During the year 2018, market conditions remained favorable. Demand improved over the year and phosphate fertilizer prices increased due to higher input costs, mainly sulfur. This growth in demand was particularly reflected in the segments of phosphoric acid and phosphate fertilizers, positively impacting OCP's export volumes.
For fertilizer, demand was supported by a significant increase in imports in India and the United States and phosphoric acid, driven mainly by Asia and Europe. F
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