Maroc Telecom’s 9M revenues up 16.6% to USD2.6bn

26 Oct 2015

Maroc Telecom has reported consolidated revenues of MAD25.503 billion (USD2.60 billion) for the nine-month period ended 30 September 2015, up 16.6% on an annualised basis, chiefly due to the consolidation of the six Moov-branded units into its results. As previously reported by TeleGeography’s CommsUpdate, the acquisition of the companies – from Maroc Telecom’s controlling shareholder Etisalat – closed on 26 January this year.

However, 9M15 revenues remained stable on a like-for-like basis (up 1.7%), with a 0.2% decline in sales in Morocco being offset by a 6.5% increase in turnover at Maroc Telecom’s international subsidiaries. EBITDA for 9M15 amounted to MAD8.102 billion, up 0.4% year-on-year, but down 0.4% on a like-for-like basis. Meanwhile, net income for the first nine months of this year was down 6.2% to MAD4.324 billion compared to the comparative period in 2014, owing to the business decline in Morocco and costs related to the acquisition of new subsidiaries.

In operational terms, Maroc Telecom reported a consolidated customer base of almost 51 million at 30 September 2015, up 29% y-o-y following the consolidation. Maroc Telecom’s domestic mobile unit contributed the lion’s share of the subscriber total meanwhile, reporting 18.567 million users as of September 2015. The telco’s 3G/4G user base grew by 44.5% to 6.404 million, while broadband customers increased by 15.5% y-o-y to 1.090 million. In Mauritania, wireless numbers increased by 20.3% to 2.196 million users, while broadband subscriptions increased by 19.0% to roughly 9,000. In Burkina Faso, the Office Nationale des Telecommunications (Onatel) saw its mobile subscribers increase by 15.6% y-o-y to reach 6.570 million by 30 September, while Moov Cote d’Ivoire reported an 18.7% annual growth in its wireless users to 4.720 million. Further, mobile subscriber increases were also seen in Benin (3.132 million, 14.9%), Togo (2.106 million, 13.4%), Niger (671,000, 11.2%), Central African Republic (148,000, 21.1%) and Gabon Telecom (1.117 million, up 2.8%), though Mali and Moov Gabon reported declines in their wireless subscription bases.

Morocco,Maroc Telecom (IAM),

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