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Rabat – Maroc Telecom Group, the national telecommunications operator of Morocco, has reported solid financial results for the first quarter of 2024, demonstrating resilience in a competitive environment.
The Group achieved a consolidated turnover of 9.1 billion dirhams (Approximately $900 million), reflecting a 1.2% increase year-over-year.
Maroc Telecom’s growth is primarily driven by its international operations, which saw a significant 3.8% increase in revenue at constant exchange rates.
This surge is attributed to a booming mobile data market (+21.7% at constant exchange rates) and a corresponding rise in fixed data demand (+19.1% at constant exchange rates) across its subsidiaries like Moov Africa.
However, the Moroccan market itself presented a contrasting picture. Domestic activities experienced a slight decline of 1.3% compared to the same period in 2023. This decrease is primarily due to a 4.2% drop in mobile revenue.
Read also: Maroc Telecom Consolidated Turnover up by 3% in 2023
The positive performance of fixed internet services (+7.6%), fueled by the success of their fiber-to-the-home (FTTH) offerings, partially mitigated this decline.
Maroc Telecom attributes its overall success to several factors. The company highlights the expansion of its high-speed fixed broadband services, its continuous cost-optimization efforts, and a steadfast commitment to network quality.
Additionally, the Group emphasizes its ambitious investment strategy, which allows it to distinguish itself through superior performance and service delivery.
The customer base also reflects Maroc Telecom’s growth trajectory. By the end of March 2024, the Group boasted a total of 77.1 million customers, representing a 2.7% increase year-on-year.
This growth is particularly evident in the international mobile sector, which now serves a staggering 53.8 million customers across various African nations.
While the domestic fixed line sector witnessed an 8% decline, the mobile customer base in Morocco remained relatively stable with a marginal increase of 0.9%. Notably, the postpaid mobile segment within Morocco even experienced a promising 3.4% growth.
