OCP Group, a global fertilizer leader, reported MAD 43.2 billion in revenue for H1 2024, driven by strong demand.
The company, headquartered in Morocco, achieved significant revenue growth due to increased fertilizer demand and production capacity, according the compnay’s release.
OCP’s revenue grew from MAD 37.5 billion in the same period of 2023, showcasing robust performance across key regions.
The Group’s EBITDA surged to MAD 16.3 billion, more than doubling from MAD 7.7 billion in the first half of 2023.
CEO Mostafa Terrab attributed the growth to flexibility, innovation, and operational efficiency in meeting global demand.
OCP highlighted increased demand in markets like India, Europe, and Africa, contributing to its strong financial results.
In the second quarter of 2024, OCP posted revenues of MAD 23.6 billion, up from MAD 19.3 billion in Q2 2023.
The company’s gross profit for H1 2024 rose to MAD 28.1 billion, up from MAD 18.5 billion in the same period last year.
Global fertilizer demand, particularly in the U.S. and Europe, played a key role in driving OCP’s revenue growth.
Despite overall strong performance, OCP’s rock revenues declined by 42% year-over-year due to lower demand in some regions.
OCP’s net financial debt reached MAD 81 billion by June 30, 2024, with cash and equivalents totaling MAD 15.7 billion.
In May 2024, OCP raised USD 2 billion through a Eurobond issuance to support its Green Investment Program and expansion projects.
The funds will help finance OCP’s sustainability goals, including 100% clean energy by 2027 and increased non-conventional water use.
OCP also signed a EUR 200 million agreement with KfW to improve food security and combat climate change.
The Group is expanding production capacity in key regions as part of its strategic program, including the Mzinda-Safi Corridor.
OCP expects rising fertilizer demand from markets like Brazil and India to drive further growth in the second half of 2024.
The company remains focused on sustainability, industrial flexibility, and innovation to maintain its leadership in the global market.