Maroc Telecom (IAM) has published its financial results for the six months ended 30 June 2018, reporting a 3.3% increase in revenues, from MAD17.09 billion (USD1.80 billion) to MAD17.94 billion. The development was attributed to a 4.8% growth in sales in its domestic market and a 3.7% increase in revenues generated by the group’s international operations. Meanwhile, the telco’s EBITDA increased by 2.7% year-on-year in the period under review, to MAD8.86 billion, with this attributed to a 1.5% growth in EBITDA from the company’s international operations, and a growth of 3.5% in the Moroccan unit’s EBITDA. IAM’s consolidated earnings from operations reached MAD5.54 billion in 1H18, a 4.8% increase y-o-y, while the group’s share of net income amounted to MAD2.99 billion, up by 1.6% when compared to 1H17.
In operational terms, the group reported annualised growth of 9.7% for its consolidated customer base, with the total passing the 60 million mark at end-June 2018. In Morocco, wireless subscribers increased by 2.8% y-o-y to reach 18.96 million, up from 18.41 million in 2Q17; the telco’s 3G/4G user base passed ten million, while broadband customers increased by 10.2% y-o-y to 1.44 million. In Niger, wireless accesses increased by 27.7% to 2.27 million, while Mali saw a 21.2% y-o-y rise in mobile subscribers to 8.36 million at 30 June. Furthermore, mobile subscriber growth was also reported in Togo (3.15 million, up 19.6%), Cote d’Ivoire (8.17 million, 15.0%), Benin (4.39 million, 13.0%) and the Central African Republic (147,000, 7.1%), while Gabon reported an annual decline of 4.3% (1.65 million).