Maroc Telecom reports 17.4% drop in net profit

14 Feb 2014

Maroc Telecom, a subsidiary of French media group Vivendi, has published its financial results for the year ended 31 December 2013, reporting a 17.4% year-on-year decrease in net profit to MAD5.54 billion (USD673.03 million), down from MAD6.709 billion reported in 4Q12. The group’s revenue for the twelve-month period declined by 4.3% to MAD28.559 billion, due to lower revenues in its domestic market, partially compensated by 9.5% annual growth in the company’s international operations over the same period. Maroc Telecom’s EBITDA also decreased by 3.0% to MAD16.213 billion; the slump was attributed to an 8.2% decline in EBITDA in Morocco.

In operational terms, Maroc Telecom reported annualised growth of 1.9% for its consolidated customer base, with the total number of customers passing the 37 million mark at end-December 2013. In Morocco, wireless customers increased by 1.9% year-on-year to 18.193 million from 17.855 million in the year; the wireline customer base grew by 8.7% to 1.379 million users, while broadband customers increased by 22.6% y-o-y to 837,000. In Mauritania, wireless numbers decreased by 7.0% to 1.872 million users, due to intense competition in the market, while broadband subscriptions increased by 6.8% to 7,352. In Burkina Faso, the Office Nationale des Telecommunications (Onatel, incl. Telmob) saw its wireless subscribers increase by 19.9% y-o-y to 4.643 million by 31 December, although its broadband customer base declined by 17.3% to 24,656. Further, Gabon Telecom reported a 33.9% increase in the number of its mobile users to 1.041 million, while Mali-based operator Societe des Telecommunications du Mali (SOTELMA) increased its mobile subscribers 48.1% to 8.923 million in 4Q13.

Abdeslam Ahizoune, chairman of Maroc Telecom’s management board, stated: ‘In 2013, Maroc Telecom Group once again achieved its objectives, while providing its customers significant price reductions…. Maroc Telecom also pursued its proactive policy of investing substantially to raise service quality. The group’s bold actions are intended to pave the way for ultra-high speed internet, not just for the mobile segment but also for the fixed-line and ADSL segments, whose success is no longer in doubt. In 2014, the group will maintain its investment and innovation momentum, both in Morocco and sub-Saharan Africa, where Maroc Telecom intends to continue to diversify successfully in high-growth areas.’

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