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Ya Biladi
25-04-2025
- Business
- Ya Biladi
The financial results of Maroc Telecom bolstered by its subsidiaries in Africa
On April 25, Maroc Telecom published its consolidated results for the first quarter of 2025, underscoring the group's resilience in an increasingly competitive market. While revenues in Morocco continue to decline, strong performances from its African subsidiaries have helped stabilize overall activity. Consolidated revenue stood at 8.88 billion dirhams, remaining virtually unchanged (+0.1% at constant exchange rates). The 3.7% drop in domestic revenue was offset by a 4.1% increase from Moov Africa subsidiaries, driven by the growth of mobile data, fiber-to-the-home (FTTH), and Mobile Money services. The customer base now totals nearly 80 million, reflecting a 3.6% year-on-year increase. Adjusted EBITDA fell to 4.39 billion dirhams (-5.7%), with a margin of 49.4%. Net income dropped by 5.9% to 1.44 billion dirhams, while operational cash flow declined by 11.6%. In Morocco, the group's activities remain under pressure: revenue dropped to 4.55 billion dirhams, with EBITDA down 9.3% and cash flow from operations (CFFO) down 16.4%. This erosion is reflected in a 2.7% decline in the mobile customer base and a 3.9% drop in mobile internet users. Maroc Telecom is banking on a strategic partnership with Inwi to share fiber and 5G infrastructure, backed by a planned investment of 4.4 billion dirhams over three years. In sub-Saharan Africa, the subsidiaries continue to show positive momentum despite varying local contexts. Their revenue reached 4.63 billion dirhams, with EBITDA up 3.2% and EBITA rising 8.3%. Growth in Mobile Money, wider smartphone adoption, and rising demand for ultra-fast broadband are driving these gains. The group is also pursuing its innovation strategy with the launch of iNJOY, a 100% digital mobile offering in Morocco, and new partnerships with Visa, Zoho, and Vodafone to enhance services for both individuals and businesses.
Zawya
25-04-2025
- Business
- Zawya
Maroc Telecom's first quarter profit falls 5.9%
RABAT - Morocco's largest telecom operator, Maroc Telecom, reported a 5.9% drop in first quarter profit on Friday as falling revenue in Morocco offset growth at its African subsidiaries. The company said profit attributable to shareholders totalled 1.43 billion dirhams ($154 million) for January-March and its consolidated revenue fell 2% from a year earlier to 8.8 billion dirhams. Revenue in its main Moroccan market dropped 3.7% but rose 4.1% at its African subsidiaries, known as Moov Africa. Maroc Telecom said its customer base grew 3.6% to 80 million, as it steps up investments in broadband and mobile payment services at African subsidiaries. Maroc Telecom, which is also listed on Euronext Paris, is 53% controlled by the United Arab Emirates' Etisalat, with the Moroccan state owning 22%. Besides Morocco, it operates subsidiaries in Benin, Burkina Faso, the Central African Republic, Chad, Gabon, Ivory Coast, Mali, Mauritania, Niger and Togo. In March, Maroc Telecom said it will team up with competitor Inwi to roll out a 5G network in Morocco, with a joint investment of 4.4 billion dirhams over the next three years. Under the deal, which is pending the approval of telecommunications regulator ANRT, the operators agreed to equally set up two joint ventures in charge of deploying 5G optic fibre and towers.
Reuters
25-04-2025
- Business
- Reuters
Maroc Telecom's first quarter profit falls 5.9%
RABAT, April 25 (Reuters) - Morocco's largest telecom operator, Maroc Telecom ( opens new tab, reported a 5.9% drop in first quarter profit on Friday as falling revenue in Morocco offset growth at its African subsidiaries. The company said profit attributable to shareholders totalled 1.43 billion dirhams ($154 million) for January-March and its consolidated revenue fell 2% from a year earlier to 8.8 billion dirhams. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Revenue in its main Moroccan market dropped 3.7% but rose 4.1% at its African subsidiaries, known as Moov Africa. Maroc Telecom said its customer base grew 3.6% to 80 million, as it steps up investments in broadband and mobile payment services at African subsidiaries. Maroc Telecom, which is also listed on Euronext Paris, is 53% controlled by the United Arab Emirates' Etisalat, with the Moroccan state owning 22%. Besides Morocco, it operates subsidiaries in Benin, Burkina Faso, the Central African Republic, Chad, Gabon, Ivory Coast, Mali, Mauritania, Niger and Togo. In March, Maroc Telecom said it will team up with competitor Inwi to roll out a 5G network in Morocco, with a joint investment of 4.4 billion dirhams over the next three years. Under the deal, which is pending the approval of telecommunications regulator ANRT, the operators agreed to equally set up two joint ventures in charge of deploying 5G optic fibre and towers.
Morocco World
14-02-2025
- Business
- Morocco World
Maroc Telecom Posts $614 Million Profit as African Growth Offsets Mobile Drop
Doha – Maroc Telecom, Morocco's leading telecommunications operator, reported a slight decline of 0.4% in its 2024 net profit to MAD 6.14 billion ($614 million), while maintaining growth in consolidated revenue amid continued investments in high-speed fixed broadband infrastructure. The group's consolidated revenue reached MAD 36.7 billion ($3.67 billion), marking a 1.2% increase, primarily driven by a 4.6% revenue growth from its Moov Africa subsidiaries, which generated MAD 18.7 billion ($1.87 billion). The African operations showed strong performance across segments, with mobile data growing 15.6%, fixed internet expanding 21.1%, and Mobile Money services rising 14.4%. In its domestic market, Maroc Telecom's fixed-line segment grew by 2.3%, supported by a 29% expansion in its FTTH (Fiber to the Home) customer base. However, the mobile segment faced challenges, with the total mobile subscriber base declining 3.1% to 19.1 million customers. While postpaid subscriptions increased by 5.0%, prepaid services saw a 4.3% decrease. The group's adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) reached MAD 19.2 billion ($1.92 billion), showing a modest 0.3% increase, with the EBITDA margin remaining strong at 52.3%. Read also: Report: 4.3% of Moroccans Cannot Afford Basic Internet Access The adjusted operating income (EBITA) grew by 0.7% to MAD 12.2 billion ($1.22 billion). Capital expenditure in 2024 amounted to MAD 11.2 billion ($1.12 billion), representing 20.8% of revenue, excluding licenses and frequencies. The group's net debt increased by 37.1% to MAD 22.4 billion ($2.24 billion), resulting in a debt-to-EBITDA ratio of 1.1x. The company's total customer base expanded by 4.5% to reach 79.3 million subscribers, primarily driven by an 8.1% growth in African operations. Maroc Telecom, which is 53% owned by UAE's Etisalat and 22% by the Moroccan state, announced a dividend of MAD 1.43 ($0.143) per share, totaling MAD 1.26 billion ($126 million). The group maintains operations across ten African countries besides Morocco, including Benin, Burkina Faso, Central African Republic, Chad, Gabon, Ivory Coast, Mali, Mauritania, Niger, and Togo. Looking ahead to 2025, Maroc Telecom anticipates moderate revenue growth and plans to maintain capital expenditure at approximately 20% of revenue, focusing on infrastructure modernization and high-speed broadband expansion. Tags: African MarketsCorporate EarningsMaroc TelecomTelecommunications
