Rabat – Maroc Telecom group published its results for the 2016, showing a significant increase in the company’s turnover and confirming the success of its strategic orientations.
Abdeslam Ahizoune, Chairman of the Management Board, said in a press release published by the company that Maroc Telecom group has concluded its 2016 financial year with results exceeding its objectives.
These results confirm the profitable growth momentum of the Moroccan as well as the international market, and strengthen Maroc Telecom’s strategic vision.
According to Ahizoune, in 2017 Maroc Telecom will continue to focus on strengthening its leadership, the growth of its subsidiaries in Africa, the quality of its networks, and its pursuit of a constant cost control policy, all supported by strong investments.
A plan for the voluntary departures of employees has been successfully carried out in Morocco and will allow the rejuvenation of its human resources.
“Maroc Telecom is approaching 2017 with serenity, thanks to the commitment of its teams and its ability to adapt to changes in technology and the market,” stated the chairman.
The published results have exceeded the telecom company’s objectives announced at the beginning of the year with a 3.3% increase in turnover and a 3.2% rise in net income before restructuring.
The results noted that Maroc Telecom’s revenue growth is generated both by the group’s activities in Morocco and by its African subsidiaries, which experienced sustained growth in 2016.
The customer base of the group has continued its significant surge, with 54 million customers at the end of 2016, corresponding to a growth of 6.3%. The African subsidiaries have gone even further, with a 10% growth in their customer base.
In Morocco, landlines and Internet activities continue to grow, driven by the success of ADSL offers. There is also an exceptional growth in mobile data traffic which grew 96% in one year thanks to the rapid expansion of the 3G and 4G networks, covering 87% and 73% of the population respectively.
On a national level, there has also been a voluntary departure plan that has benefited 700 employees to date. At the same time, on the international level, a significant growth was registered with revenues up by 9.4% for all the group’s subsidiaries in Africa and, remarkably, increased by 14.6% in the newly acquired subsidiaries .
This African growth demonstrates the robustness of the group’s strategic choices and the relevance of the business model adopted by Maroc Telecom for its African subsidiaries.
