Maroc Telecom revenues up 13.9%, Meditel revenues rise 3.8%

9 May 2008

Moroccan former monopoly telco Maroc Telecom has posted a 9.1% year-on-year rise in first-quarter operating profit to MAD3.1 billion (USD417 million), on revenues which reached MAD6.97 billion, up 13.9%. The operating margin in the three months ended 31 March was 44.7%, a 1% rise against last year on a comparable basis, the company said in a statement. The full-service operator, majority owned by French group Vivendi, said the results confirmed its annual forecasts and were driven by growth in mobile services. Maroc Telecom’s domestic GSM mobile subscriber base grew to 13.7 million at the end of March 2008, up from 11.4 million a year before.

Maroc Telecom’s GSM rival Medi Telecom (Meditel), part-owned by Portugal Telecom and Telefonica, posted more modest year-on-year revenue growth of 3.8% in the first three months of 2008 to MAD1.22 billion, as its EBITDA climbed to MAD508 million, up from MAD473 million in Q1 2007. Meditel, which also provides fixed-wireless and internet services, achieved a first quarter EBITDA margin of 41.6%, compared to 40.2% a year ago. Portugal Telecom reported that Meditel’s mobile customers base reached 6.814 million at the end of March, up from 5.633 million twelve months earlier.

Morocco,Maroc Telecom (IAM), Orange Morocco (Meditel),

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