Maroc Telecom announces for the first quarter of 2018, an increase of 5.6% of adjusted net income group share which reached 1.582 million dirhams (171 million dollars), and an EBITDA up 5.7% to reach MAD 4,482 million (US $ 485 million).
The group achieved a turnover of 9 billion dirhams (974 million dollars), up 5.6% (+ 3.5% at constant exchange rate), thanks to the significant growth in Morocco (+ 4.6%) and in subsidiaries (+ 4.9% at constant currency).
The Group’s consolidated operating income grew by 8% (+ 6.6% at constant exchange rates) to reach 2.86 billion dirhams thanks to the combined effect of the increase in the Group’s consolidated operating income. EBITDA and a decrease of 0.3% (at constant exchange rate) in amortization expense.
A good result driven by the group’s performance in Morocco, but also by its subsidiaries abroad.
New African subsidiaries lead the pack
For its activities outside Morocco, Maroc Telecom recorded a turnover of 4.13 billion dirhams for this first quarter, an increase of 9.6% (+ 4.9% at constant exchange rate). An advance resulting from the revenue growth of its new subsidiaries (+ 11.8% at constant exchange rates), particularly in Côte d’Ivoire, Benin and Togo.
The group also notes that operating income reached 1 billion dirhams, up 4.5% at constant currency.
In terms of customers, Maroc Telecom announces a total of subscribers of nearly 59 million at the end of March 2018, up 7.8% year-on-year, driven mainly by the growth of the mobile parks of the subsidiaries as well as by the increase mobile and fixed broadband in Morocco, according to the top management.
