Maroc Telecom (IAM) has published its financial results for the twelve months ended 31 December 2018, reporting a 3.1% increase in revenue from MAD34.963 billion (USD3.7 billion) to MAD36.032 billion, attributed to a ‘sharp’ 4.6% growth in sales in its domestic market and a 2.0% increase in revenues generated by the group’s international operations. Meanwhile, the carrier’s annual EBITDA increased by 4.1% year-on-year to MAD17.856 billion, on the back of a 6.1% growth in pre-tax earnings from domestic operations. IAM’s consolidated earnings from operations reached MAD11.052 billion in FY 2018, a 4.7% increase y-o-y, while the group’s share of net income amounted to MAD6.005 billion, up by 2.3% when compared to FY 2017.
In operational terms, IAM reported annualised growth of 6.5% for its consolidated customer base, with the total passing the 61 million mark at end-2018. In Morocco, wireless subscribers increased by 2.9% y-o-y from 18.533 million to 19.062 million; the telco’s 3G/4G user base passed 10.828 million, while broadband customers increased by 8.9% y-o-y to 1.484 million. In Niger, meanwhile, wireless accesses increased by 17.5% to 2.485 million, while Togo saw a sizeable 15.7% y-o-y rise in mobile subscribers to 3.405 million at 31 December. Furthermore, mobile subscriber growth was also reported in Mauritania (11.8%, 8.646 million), Benin (6.1%, 7.634 million), although the Central African Republic (CAR) reported an annual decline of 2.6%, down to 140,000 subscribers.
Abdeslam Ahizoune, Chairman of the Management Board, commented: ‘In an environment marked by significant changes and an intensely competitive market, the Maroc Telecom Group registered sustained growth in its key performance indicators. Thus, in its domestic markets as well as in its subsidiaries, growth is driven by data, which reaffirms the relevance of the group’s investment strategy. Continued cost control in all markets allowed the group to achieve a strong profitability growth, in spite of the new taxes implemented in certain countries. In 2019, digital transformation and innovation will form an even bigger part of our strategic priorities.’