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Maroc Telecom reports 2.7% revenue decrease in 1Q17

24 Apr 2017

Maroc Telecom (IAM), the country’s leading telco in terms of subscribers, has published its financial results for the three months ended 31 March 2017, reporting a 2.7% decrease in revenues, from MAD8.750 billion (USD850 million) to MAD8.517 billion, mainly due to ‘the unfavourable calendar effect and important reductions in call termination rates in Morocco and internationally’. Meanwhile, Maroc Telecom’s EBITDA increased marginally by 0.7% in the period under review, to MAD4.242 billion; on a like-for-like basis EBITDA increased 1.4%, with the progress attributed to a 4.2% growth in EBITDA from the company’s international operations, which was partly offset by a 1.4% decline in the Moroccan unit’s EBITDA. Maroc Telecom’s consolidated earnings from operations reached MAD2.466 billion at 31 March 2017 (MAD2.910 billion in 1Q16), while net income amounted to MAD1.366 billion, down by 10.5% when compared to Q1 2016.

In operational terms, Maroc Telecom reported annualised growth of 2.7% for its consolidated customer base, with the total number of customers reaching the 54 million mark at end-March 2017. In Morocco, wireless subscribers marginally increased by 0.3% y-o-y to reach 18.373 million, up from 18.317 million in 1Q16; the telco’s 3G/4G user base grew by 19.0% to 8.063 million, while broadband customers increased by 9.4% y-o-y to 1.285 million. In Niger, wireless numbers increased by 67.8% to 1.623 million users, while Cote d’Ivoire saw 30.0% increase in mobile subscribers y-o-y to 7.014 million by 31 March. Further, mobile subscriber increases were also seen in Togo (2.574 million, 17.2%), Gabon (1.716 million, 9.5%) and Benin (3.775 million, up 7.8%), though Mali, Mauritania and the Central African Republic (CAR) reported declines in their wireless subscription bases.

Abdeslam Ahizoune, chairman of Maroc Telecom’s management board, stated: ‘In a context marked by a tightening of environmental and competition regulations, Maroc Telecom Group’s good results for this first quarter of 2017 prove the relevance of its development model, which is based on an effective commercial dynamic that is centred on technological innovation and services adapted to the needs of its customers.’

Benin, Central African Republic, Gabon, Mali, Mauritania, Morocco, Niger, Togo, Maroc Telecom (IAM), Moov Africa Benin, Moov Africa Centrafrique, Moov Africa Mali (formerly SOTELMA/Malitel), Moov Africa Niger, Moov Africa Togo, Moov Gabon, Moov Mauritel

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