Home Economy Maroc Telecom Revenue Drops Slightly in 2017, Adjusted Net Income Up by...

Maroc Telecom Revenue Drops Slightly in 2017, Adjusted Net Income Up by 4.4%

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Rabat – Maroc Telecom Group total revenues dropped slightly in 2017 to MAD 34.96 billion, a 0.8 percent drop compared to the MAD 35.25 billion recorded in 2016, according to the Group’s 2017 annual results.

At the end of 2017, earnings before interest, tax, depreciation and amortization (EBITDA) amounted to MAD 17.16 billion, up 1.5 percent from MAD 16.91 billion in 2016.

The group’s adjusted net income share reached more than MAD 5.87 billion in 2017, up 4.4 percent compared to the previous year.

This increase is partly the result of resistance to VoIP mobile applications by some consumer segments in Morocco, and also due to the substantial growth in net income from international operations. International activities recorded a turnover of MAD 15.73 billion, up 2.7 percent over 2016.

“The Group’s large capacity to control costs and its profitable investment policy have enabled it to improve its margins, particularly in African subsidiaries,” said the Chairman of the Group’s Executive Board, Abdeslam Ahizoune, explaining that the group has invested more than MAD 8 billion in sub-Saharan Africa to establish new digital networks and to introduce mobile technology innovations for consumers.

Similarly, Maroc Telecom’s customer base grew by 5.5 percent last year, reaching 57 million customers.

During 2017, the Group’s activities in Morocco generated sales of more than MAD 20.48 billion, down 3.6 percent compared to 2016.

Maroc Telecom mobile services, which numbered 18.5 million customers at the end of December, rose by 0.9 percent last year, generating a turnover of MAD 13.33 billion, down 5.5 percent, compared to 2016.

Fixed line service, on the other hand, recorded sustained growth of 5.2 percent reaching 1.7 million lines. Fixed line service and Internet connectivity achieved turnover revenue of MAD 8.96 billion, up 1.5 percent compared to 2016.

“Maroc Telecom’s earnings growth demonstrates its resilience and agility in anticipating market developments,” said Ahizoune.

Adjusted operating cash flow also increased by 3.1 percent, as well as capital expenditures of approximately 23 percent of revenues, excluding frequencies and licences.

Maroc Telecom’s outlook for 2018 should see stable revenue and EBITDA.

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