OCP Achieves 48.4 Billion Dirhams in Revenue in the First Half of 2026

The OCP Group reported a revenue of 48.37 billion dirhams (MAD) for the first half of 2026, down from 52.17 billion MAD in the same period of 2025. This decline comes amid a challenging international backdrop marked by ongoing geopolitical tensions and disruptions affecting markets and supply chains.

In the second quarter of 2026, the group’s revenue stood at 28.28 billion MAD, compared to 30.57 billion MAD a year earlier. OCP attributes this change to the continuing difficult international environment, particularly due to geopolitical tensions and logistical disruptions that continue to impact global commodities flows.

An Adjusted Operational Strategy

In response to these challenges, the group has modified its operational strategy to maintain its ability to adapt to changes in demand. This adjustment has specifically focused on sourcing inputs, product mix, and production volumes.

This flexibility enables the group to better align its operations with market conditions and the needs of its clients in an exceptionally volatile international environment.

Investments Reach 16.07 Billion MAD

On the investment front, OCP observed a slowdown in the second quarter. Capital expenditures amounted to 5.92 billion MAD, compared to 9.23 billion MAD in the second quarter of 2025, representing a decline of 36%.

However, for the entire first half, investments totaled 16.07 billion MAD, up 6% from the 15.16 billion MAD spent during the first six months of 2025.

This semiannual increase is primarily attributed to the consolidation of several payments related to strategic projects in the fields of industrial and water infrastructure, as well as renewable energy, which occurred in the first quarter.

A Move Towards Spending Moderation

Following an acceleration seen at the beginning of the year, the slowdown in disbursements in the second quarter indicates a gradual normalization of the investment pace.

For the remainder of the fiscal year 2026, OCP anticipates a moderation in its capital expenditures, in line with the guidance provided for the year.

Despite the decline in revenue compared to the first half of 2025, the group continues to implement its strategic projects while adapting its investment pace and operations to the changing international context.