Maroc Telecom group's revenues amounted to MAD 22.52 billion in the first nine months of 2012, down 3 percent year-on-year as lower revenues in Morocco (-7.1%) offset strong revenue growth (+17%) in its international business. In the third quarter alone, revenues fell 6.9 percent to MAD 7.35 billion. The group's customer base continued to grow, up 18 percent from a year earlier to nearly 33 million thanks to a 43 percent rise at the international business.
Over the first nine months, EBITDA amounted to MAD 12.53 billion, down by 2.7 percent from a year earlier. This reflects the 8.1 percent decline in EBITDA in Morocco, offset partly by a 30 percent rise in international EBITDA. In the third quarter, EBITDA amounted to MAD 4.17 billion, 8.5 percent less than in 2011. Cash flow from operations improved 1 percent to MAD 8.3 billion, and the operator reiterated its target for a full-year figure stable at MAD 11.5 billion. Maroc Telecom expects an EBITA margin of over 38 percent for the full year, excluding restructuring costs, after a result of 39.5 percent in the first nine months.
The activities in Morocco generated revenues of MAD 17.601 billion, down by 7.1 percent due to successive cuts in mobile termination rates, a focus on usage-based promos and lower fixed-line revenues. EBITDA amounted to MAD 10.17 billion, 8.1 percent lower than in 2011. Operating expenses increased only 0.1 percent, despite a 38 percent increase in voice traffic on the mobile network.
Mobile ARPU was down 8.9 percent to MAD 80, while the customer base grew 6.2 percent to 18.022 million. Fixed lines also grew 1.2 percent to 1.247 million, and broadband subscribers were up 17.5 percent from a year ago to 648,000.
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