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OCP reports decreased EBITDA in 1Q20

Published by
World Fertilizer,


OCP has reported results for the first quarter ended 31 March 2020 (1Q20).

The company's revenues were underpinned by strong export volumes and reached MAD12 270 million (US$1.27 billion), compared to MAD12 422 million (US$1.29 billion) in the same period last year (1Q19). Higher fertilizer exports to key markets were offset by lower product prices compared to 1Q19.

Gross profit was MAD7539 million (US$781 million), compared with MAD8372 million (US$872 million) in 1Q19, and gross profit margin was 61% down from 67% in 1Q19. This decrease is mainly due to lower fertilizer prices for the period, which were only partially mitigated by lower sulfur and ammonia prices.

EBITDA amounted to MAD3329 million (US$345 million), down from MAD4287 million (US$448 million) in 1Q19. EBITDA margin was 27%. EBITDA rose 48% from 4Q19 levels thanks to higher sales volumes and improved fertilizer prices.

CAPEX disbursements amounted to MAD2125 million (US$220 million), below the MAD 2448 million (US$256 million) disbursed in 1Q19 period.

Read the article online at: https://www.worldfertilizer.com/phosphates/01062020/ocp-reports-decreased-ebitda-in-1q20/

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