By Abashi Shamamba.
For its results for the first half of 2021. Maroc Telecom can say thank you to its African subsidiaries grouped together under the identity of Moov Africa. The group’s consolidated turnover drops 3% to 17.78 billion dirhams (1.8 billion euros) following a sharp contraction in mobile activities in Morocco and intensifying competition. But this drop could have been even more significant had it not been for the good momentum displayed by the Moov Africa subsidiaries and the broadband in the Moroccan market, underlines the operator.
The group’s adjusted operating income before depreciation and amortization (EBITDA) reached 9.16 billion dirhams, down 4.6% at constant exchange rates. The decline in EBITDA in Morocco is partially offset by the growth of the same indicator in the Moov Africa subsidiaries. Adjusted EBITDA margin remains at the high level of 51.5%. Adjusted net income group share was down 5.8% at constant exchange rates, to MAD 2.83 billion.
In its customer portfolio, Maroc Telecom had 74 million subscribers at the end of June, an increase of 7.5% over one year. This growth in the customer base is mainly due to the dynamism of the subsidiaries, which for their part recorded an 11% increase in the customer base.
For management, the results are in line with forecasts, “demonstrating its resilience and the relevance of the group’s strategic choices”.
Net operating cash flow amounted to 5.48 billion dirhams, down 22.8% compared to the same period of 2020. At the end of June 2021, the group’s consolidated net debt fell by 20.1% , to settle at 14.91 billion dirhams.
Outside Morocco, the operator is present in 11 African countries: Benin, Burkina Faso, Ivory Coast, Gabon, Mali, Mauritania, Niger, Central African Republic, Chad and Togo.
