This performance mainly reflects higher sales prices in all three segments, which largely offset lower sales volumes, the group said in a statement on its results at the end of December 2022.
At the retail level, Roche’s turnover increased by 51% year-on-year, mainly due to improved prices, in a context of declining export volumes to major importing regions, the same source said.
Regarding fertilizers, sales increased by 44% compared to last year, thanks to higher sales prices, which offset the impact of lower export volumes. The less favorable economic conditions for farmers, linked to the price increase, led to a decrease in global demand.
As for the gross margin, it amounted to MAD 70.38 billion, up from 55.22 billion dirhams recorded a year earlier. The improvement in sales prices has largely offset the increase in raw material costs, including ammonia and sulfur.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), meanwhile, increased by 38% to more than 50 billion dirhams against MAD 36.27 billion in 2021. The improvement in sales prices, as well as the Group’s operational efficiency, resulted in an EBITDA margin of 44%.
Operating income amounted to MAD 40,382 million, up significantly from MAD 25.8 million the previous year.
