Maroc Telecom’s profit up 5.7% y-o-y in H1 2017

24 Jul 2017

Maroc Telecom (IAM), the country’s leading telco in terms of subscribers, has published its financial results for the six months ended 30 June 2017, reporting a 2.8% decrease in revenues, from MAD17.593 billion (USD1.8 billion) to MAD17.091 billion. The development was attributed to a 1.3% drop in revenues generated by the group’s international operations, coupled with a 5.1% decrease in sales in its domestic market. Meanwhile, Maroc Telecom’s EBITDA remained flat in the period under review, at MAD8.521 billion; on a like-for-like basis EBITDA increased 0.4%, with the progress attributed to a 10.9% growth in EBITDA from the company’s international operations, although this was partly offset by a 5.6% decline in the Moroccan unit’s EBITDA. Maroc Telecom’s consolidated earnings from operations reached MAD5.287 billion at 30 June 2017, a 0.4% decrease y-o-y, while the group’s share of net income amounted to MAD2.923 billion, up by 5.7% when compared to H1 2016.

In operational terms, Maroc Telecom reported annualised growth of 3.8% for its consolidated customer base, with the total number passing the 55 million mark at end-June 2017. In Morocco, wireless subscribers increased by 1.3% y-o-y to reach 18.411 million, up from 18.179 million in June 2016; the telco’s 3G/4G user base grew by 20.6% to 8.372 million, while broadband customers increased by 9.1% y-o-y to 1.306 million. In Niger, wireless numbers increased by 63.8% to 1.780 million users, while Cote d’Ivoire saw a 25.8% rise in mobile subscribers y-o-y to 7.100 million by 30 June. Further, mobile subscriber growth was also seen in Togo (2.634 million, up 20.6%), Benin (3.880 million, 7.4%) and Gabon (1.721 million, 3.3%), while Mali and the Central African Republic reported annual declines of 14.7% (6.898 million) and 10.2% (137,000), respectively.

Benin, Central African Republic, Côte d'Ivoire, Gabon, Mali, Morocco, Niger, Togo, Maroc Telecom (IAM), Moov Benin, Moov Centrafrique, Moov Cote d'Ivoire, Moov Gabon, Moov Niger, Moov Togo, SOTELMA (Malitel)