Maroc Telecom’s 1Q16 results boosted by international operations

25 Apr 2016

Maroc Telecom (IAM), the country’s leading telco in terms of subscribers, has published its financial results for the three months ended 31 March 2016, reporting a 10.2% increase in revenues, from MAD7.942 billion (USD818 million) to MAD8.750 billion. The improvement was driven by the group’s international operations, which grew by 27.0% year-on-year (12.7% on a comparable basis), and a return to growth in the group’s domestic market (0.9%). Meanwhile, Maroc Telecom’s EBITDA increased by 4.7% in the period under review, to MAD4.214 billion; on a like-for-like basis EBITDA increased 2.6%, with the progress attributed to an 1.8% decline in the Moroccan unit’s EBITDA, although this was partly compensated by a 18.2% growth in EBITDA from the company’s international operations. Maroc Telecom’s consolidated earnings from operations reached MAD2.910 billion at 31 March 2016, a 13.8% increase y-o-y, while net income amounted to MAD1.526 billion, up by 16.0% when compared to Q1 2015.

In operational terms, Maroc Telecom reported annualised growth of 2.9% for its consolidated customer base, with the total number of customers reaching the 53 million mark at end-March 2016. In Morocco, wireless subscribers marginally increased by 0.8% y-o-y to reach 18.317 million, up from 18.165 million in 1Q15; the telco’s 3G/4G user base grew by 36.0% to 6.779 million, while broadband customers increased by 14.0% y-o-y to 1.174 million. In Niger, wireless numbers increased by 62.6% to 967,000 users, while Cote d’Ivoire saw 36.3% increase in mobile subscribers y-o-y to 5.395 million by 31 March. Further, mobile subscriber increases were also seen in Benin (11.171 million, up 18.5%), Togo (2.196 million, 13.8%) and Burkina Faso (6.912 million, 12.3%), though Mali and Gabon Telecom reported declines in their wireless subscription bases.

Abdeslam Ahizoune, chairman of Maroc Telecom’s management board, stated: ‘The growth of Maroc Telecom Group’s consolidated results is driven by all the Group’s activities and especially by its African subsidiaries. Maroc Telecom confirms thereby the relevance of its strategic choices focused on innovation, investment and the quality of its services which added to the commitment of its staff ensure a profitable growth to the Group.’

Benin, Burkina Faso, Côte d'Ivoire, Gabon, Mali, Morocco, Niger, Togo, Maroc Telecom (IAM), Mauritel, Moov Benin, Moov Cote d'Ivoire, Moov Gabon, Moov Niger, Moov Togo, Office Nationale des Telecommunications (Onatel), SOTELMA (Malitel)