Latest news with #OCPGroup
Morocco World
3 days ago
- Business
- Morocco World
Morocco's OCP Revenues Reach $2.18 Billion in First Quarter of 2025
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.
Ya Biladi
5 days ago
- Business
- Ya Biladi
OCP and SACE sign €365M green financing deal to boost sustainability in Morocco
The OCP Group and SACE, an Italian insurance and finance group controlled by Italy's Ministry of Economy and Finance, announced on Tuesday the signing of a green financing agreement worth €365 million. This is the first financing secured under OCP's Green Finance Framework and marks the first transaction guaranteed in Morocco as part of SACE's Push Strategy. According to a joint statement, this partnership reinforces OCP's commitment to sustainability and innovation in plant and soil nutrition solutions. The financing, structured as an untied export credit, is backed by comprehensive insurance coverage under SACE's Push Strategy and was arranged by BNP Paribas and Crédit Agricole Corporate and Investment Bank (CACIB). In line with OCP's Green Finance Framework, the funds will support the company's $13 billion green investment program for 2023–2027. This includes a goal to rely 100% on non-conventional water sources by early 2025, reaching a desalination capacity of 560 million m³ per year by 2027, ensuring complete water autonomy. The program also aims to achieve 100% clean energy use by 2027, complete carbon neutrality by 2040 (with Scopes 1 and 2 by 2030, and Scope 3 by 2040), and a significant increase in green fertilizer production to support sustainable agriculture and global food security. Beyond financing, the agreement also opens new business opportunities for OCP Group and Italian suppliers through business matchmaking initiatives organized by SACE. SACE's Push Strategy is designed to support Italian export opportunities in strategic sectors of the Mattei Plan for Africa, such as green technologies, as well as mechanical and hydraulic components. Armando Barucco, Italy's ambassador to Morocco, welcomed the initiative as a boost to economic collaboration, unlocking new opportunities across multiple sectors and consolidating a solid foundation for trade and bilateral investments. Michal Ron, SACE's international director, described the Push Strategy as a key tool for creating new export opportunities, particularly for SMEs. For his part, Karim Lotfi Senhadji, OCP's Chief Financial Officer, emphasized the importance of the partnership in accelerating the transition to 100% clean energy and 100% non-conventional water, with the aim of securing OCP's leadership in sustainable plant nutrition solutions.
Ya Biladi
11-05-2025
- Business
- Ya Biladi
AFD pledges €150 million for development in Morocco's southern provinces
The French Development Agency (AFD) plans to invest around €150 million in Morocco's southern provinces, announced its Director General, Rémy Rioux, on Saturday in Laayoune. This initiative marks a new phase for the AFD, which is now seeking to support the development of a region with significant potential. During his working visit, Rioux met with several local officials, including the Wali of Laayoune-Sakia El Hamra, Abdeslam Bekrate, as well as the presidents of the regional and municipal councils. He praised the investments already made and the quality of local infrastructure, emphasizing their role in job creation and responding to the aspirations of the youth. Rioux also expressed his admiration for the region's current momentum, particularly the emergence of private enterprises and the development of industrial zones. He noted that upcoming AFD funding will aim to support local economic actors by offering practical and tailored solutions. He also highlighted the strengthened partnership between the AFD and the OCP Group, particularly in applied research and efforts to decarbonize the agricultural value chain. A major financing agreement in this field was recently signed in Rabat. The French delegation attended presentations on regional and local development programs, part of the new development model for the southern provinces launched by King Mohammed VI in 2015. They also visited several social, educational, and economic projects, including the port of Laayoune and the African Sustainable Agriculture Research Institute (ASARI), affiliated with UM6P. This visit is part of the Enhanced Exceptional Partnership between Morocco and France and reflects their shared commitment to promoting inclusive and sustainable development across the Kingdom.
Morocco World
11-05-2025
- Business
- Morocco World
AFD to Strengthen Cooperation with OCP in Applied Agricultural Research
Rabat – The French Development Agency (AFD) recently expressed its determination to strengthen cooperation with Morocco's fertilizer giant OCP in the field of applied research, particularly in agriculture. AFD's Director General Rémy Rioux announced the news during his visit to Laayoune on Saturday, recalling the signing of a major financing agreement concerning the decarbonization of OCP's value chain. In April of last year, the two parties announced a commitment to deepen ties as well as to the decarbonization of Morocco's economy and to food security in Africa. Last year, OCP said that both parties share the same vision for a sustainable global future, noting that decarbonization is a central pillar of AFD's 2022-2026 strategy in Morocco. 'In this context, AFD and OCP Group are considering a loan of up to 350 million euros to OCP Group,' the statement said, noting that the loan seeks to target the development of green hydrogen and ammonia as well as renewable energies. The loan also targets the training of human capital as part of OCP's green investment program spanning 2023 to 2027. 'This green program foresees an overall investment of USD 13 billion to enable the Group to use 100% nonconventional water in 2024 (to ensure its complete autonomy, including a water desalination capacity of 50 million m3 per year by 2026),' OCP's April statement added. During the visit on Saturday, AFD attended presentations of the regional development program and municipal development plan as part of various projects included in the new development model for the southern provinces that King Mohammed VI launched in 2015. As part of the AFD delegation's visit to Laayoune, the agency also announced plans to make major investments of 150 million euros in Morocco's southern provinces. The investment is part of France's historic recognition of Morocco's sovereignty over its southern provinces in Western Sahara. Tags: AFDMorocco's OCP Group
Morocco World
30-04-2025
- Business
- Morocco World
OCP Continues Commitment Toward Innovation for Sustainable Manufacturing
Rabat – Morocco's fertilizer giant OCP Group organized on Tuesday the first OCP Innovatex Day at the Mohammed VI Polytechnic University (UM6P) in Benguerir, with a focus on technological innovation for a sustainable industry. OCP organized the event through its ManufacturiX platform under the Strategic Business Unit (SBU) Manufacturing. The event brought together experts and representatives from industrial companies, startups, research centers, as well as within academia. In partnership with UM6P, the symposium served as a platform to exchange ideas on innovative solutions to address various challenges of manufacturing. Abdenour Jbili, Director of ManufacturiX and CEO of OCP Maintenance Solutions, stated that youth represent a source of inspiration and change for shaping the future. Around 500 participants took part in the event to discover innovative solutions from more than 35 companies representing 25 countries. 'These companies were selected from 2,500 applications received in December 2024,' Jbili said, noting that several talented Moroccan companies showcased their expertise and were honored during the event. Jbili stressed that the goal is to make OCP InnovateX Day an annual event to build a strong network and diverse sources of innovation. Ahmed Mahrou, Managing Director of the Manufacturing SBU at OCP Group, echoed the same commitment, noting that the first edition of OCP InnovateX is an opportunity to build bridges between industry and academia. 'Today, we are not just observing, we are committing to responsible and sustainable innovation,' he said, noting that the objective is to 'become a vibrant and dynamic meeting place' where 'talent and technologies coverage to create more sustainable and productive intelligence.' Tags: Morocco's OCP GroupMorocco's OCP
