Maroc Telecom Reports 1.3% Profit Growth, Driven by Mobile Data Expansion

This performance is mainly attributable to the improvement of activities in Morocco, explains Maroc Telecom, in a press release on its consolidated results as of September 30.

As for the Turnover (CA), it exceeded 27.3 BMDH, up 0.6% (+0.9% on a comparable basis), due to the increase in CA in Morocco (+1.3%). At the end of September 2019, activities in Morocco generated a CA of 16.3 BMDH, up 1.3%, supported by the continued growth of mobile data.

For Abdeslam Ahizoune, Chairman of the Management Board of Maroc Telecom, "the Maroc Telecom Group continues its growth momentum with the increase in its revenues, particularly in Data, and the improvement of its margins thanks to the optimization of costs. These results reinforce the Group in achieving its annual objectives and confirm the profitability and relevance of its business model".

But, despite this beautiful picture of performance, a few points of gloom are noted in the Group’s investments excluding frequencies and licenses. Thus, a 21.4% decrease, representing 12% of the CA, while the adjusted CFFO amounted to nearly 9.2 BMDH, up 23.4%, thanks to both the increase in EBITDA and the optimization of investments.

On the international front, despite competitive and regulatory pressure, the Group’s activities have continued to show good resilience, recording a CA of around 12 BMDH in the first nine months of the year, a slight decrease of 0.7% on a comparable basis.

This development is explained by the impact of the decline in Mobile call termination rates, particularly in Mali and Côte d’Ivoire, as well as the decline in international incoming revenues under the effect of OTTs. Excluding the decrease in call termination rates, the CA is up 0.9% on a comparable basis, driven by the growth of Data and Mobile money services.