Maroc Telecom (IAM), the country’s leading telco in terms of subscribers, has published its financial results for the three months ended 31 March 2018, reporting a 3.5% increase in revenues, from MAD8.52 billion (USD917 million) to MAD8.99 billion. The development was attributed to a 4.6% growth in sales in its domestic market and a 4.9% increase in revenues generated by the group’s international operations. Meanwhile, the telco’s EBITDA increased by 4.1% year-on-year in the period under review, to MAD4.48 billion, with this attributed to a 2.8% growth in EBITDA from the company’s international operations, and return to growth (4.8%) in the Moroccan unit’s EBITDA. IAM’s consolidated earnings from operations reached MAD2.86 billion in 1Q18, a ‘sharp’ 8.0% increase y-o-y, while the group’s share of net income amounted to MAD1.58 billion, up by 5.6% when compared to 1Q17.
In operational terms, the group reported annualised growth of 7.8% for its consolidated customer base, with the total nearly reaching the 59 million mark at end-March 2018. In Morocco, wireless subscribers increased by 2.1% y-o-y to reach 18.76 million, up from 18.37 million in 1Q17; the telco’s 3G/4G user base grew by 20.4% to 9.71 million, while broadband customers increased by 8.8% y-o-y to 1.40 million. In Niger, wireless accesses increased by 37.5% to 2.23 million, while Togo saw a 19.2% y-o-y rise in mobile subscribers to 3.0 million at 31 March. Furthermore, mobile subscriber growth was also reported in Mali (7.78 million, up 13.9%), Benin (4.28 million, 13.4%), Cote d’Ivoire (7.82 million, 11.6%) and Mauritania (2.19 million, 7.2%), while Gabon reported an annual decline of 12.0% (1.51 million).