Maroc Telecom reports 4.4% increase in net income in 2017

19 Feb 2018

Maroc Telecom (IAM), the country’s leading telco in terms of subscribers, has published its financial results for the twelve months ended 31 December 2017, reporting a 0.8% decrease in revenues, from MAD35.25 billion (USD3.8 billion) to MAD34.96 billion. The development was attributed to a 3.6% drop in sales in its domestic market, which was partly offset by a 2.4% increase in revenues generated by the group’s international operations. Meanwhile, the telco’s EBITDA increased by 1.5% year-on-year in the period under review, to MAD17.16 billion, with this attributed to a 7.6% growth in EBITDA from the company’s international operations, although this was partly offset by a 1.8% decline in the Moroccan unit’s EBITDA. IAM’s consolidated earnings from operations reached MAD10.55 billion in the year to 31 December 2017, a 1.2% increase y-o-y, while the group’s share of net income amounted to MAD5.87 billion, up by 4.4% when compared to 2016.

In operational terms, the group reported annualised growth of 5.5% for its consolidated customer base, with the total nearly reaching the 57 million mark at end-2017. In Morocco, wireless subscribers increased by 0.9% y-o-y to reach 18.53 million, up from 18.38 million in 2016; the telco’s 3G/4G user base grew by 20.9% to 9.48 million, while broadband customers increased by 9.8% y-o-y to 1.36 million. In Niger, wireless accesses increased by 49.0% to 2.11 million, while Cote d’Ivoire saw a 13.1% y-o-y rise in mobile subscribers to 7.73 million at 31 December. Furthermore, mobile subscriber growth was also reported in Togo (2.94 million, up 19.5%), Burkina Faso (7.17 million, 2.6%), Mauritania (2.14 million, 7.8%), Mali (7.19 million, 1.5%) and Benin (3.96 million, 6.2%), while Gabon reported an annual decline of 8.4% (1.55 million).

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