Free-spending Meditel satisfied with results in poor economy

11 Aug 2009

Morocco’s second largest GSM operator Meditel posted a turnover of MAD1.24 billion (USD156 million) in the second quarter of 2009, an increase of 1% over the same period last year, despite a 6.4% drop in roaming and international call revenues experienced due to the global financial crisis, the company’s CEO Mohamed El Mandjra announced at a press briefing in Casablanca. Internet access services were the star performer in the three months to the end of June 2009, recording a revenue growth rate of over 120%, whilst Meditel’s business user segment achieved an 8.3% increase in sales. EBITDA slightly declined compared with the second quarter of 2008 to MAD480 million, continued El Mandjra, who said that the figure was offset by the other positive performance measurements in the second quarter, and that overall, Meditel had consolidated its position in a market downturn. Total customers stood at 8.634 million at 30 June, up 21.9% year-on-year. The company has invested around MAD263 million in the first six months of the year to strengthen its network coverage across the entire country, increasing the total number of sites based on 2G, 3G and WiMAX technologies to 3,772, and bringing the national population coverage to more than 98%.

Morocco,Orange Morocco (Meditel),

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