Maroc Telecom’s revenue, EBITDA down 2.0%, 7.8%

11 Nov 2011

Moroccan group Maroc Telecom’s consolidated results for the first nine months of 2011 show that its revenues fell by 2.0% year-on-year to MAD23.2 billion (USD2.8 billion), while EBITDA amounted to MAD12.9 billion in January-September, a decline of 7.8%, despite the overall customer base rising by 10.9% to 27.8 million. Modest subscriber growth in Morocco (+1.6%) was augmented by strong mobile customer base growth across Maroc Telecom’s foreign subsidiaries, where the combined base increased by 36.5%. At 30 September 2011 its subsidiary in Burkina Faso, Onatel, had 2.83 million mobile customers on the Telmob network, up by 33.4% year-on-year, although in the nine-month period revenues in Burkina Faso decreased by 3.9% to MAD1.3 billion because of significant price cuts carried out since the second half of 2010. In Gabon, Maroc Telecom’s subsidiary Gabon Telecom generated revenues of MAD746 million in 9M11, a decline of 5.2% on the same period a year ago, in what its statement said was ‘a competitive environment that remains intense.’ Gabon Telecom’s Libertis unit recorded a 27.9% fall in its number of mobile users to 455,000 at the end of September 2011 and a loss of 33.6% of its fixed lines in service, with just 24,000 remaining at that date. However, it was a different story in Mali, where in January-September 2011 group revenues in the country amounted to MAD1.5 billion, a year-on-year rise of 36%. Malian operator Sotelma’s customer bases continued to show impressive growth: +87% for its mobile unit (Orange Mali), with 3.66 million customers at the end of the period under review, and +21% for fixed line, reaching 90,000 active connections. Meanwhile, in its domestic market, Maroc Telecom said that its 3G mobile broadband internet customer base continued its positive trend, with 930,000 Moroccan customers at the end of the third quarter, which it claimed kept it in pole position in the segment with a market share of nearly 40%.

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