Maroc Telecom Group revenue rises 4% in Q1, customer base up 11%

News General Africa 20 APR 2020
Maroc Telecom Group revenue rises 4% in Q1, customer base up 11%

Maroc Telecom Group's consolidated revenue increased by 4 percent to MAD 9.31 billion for the first quarter to 31 March from MAD 8.95 billion in Q1 2019, thanks to a 6.9 percent rise in the group's international revenue. EBIDTA was MAD 4.79 billion, up 3.1 percent from MAD 4.65 billion, driven by the increase in revenue. The EBITDA margin was 51.5 percent.

Adjusted EBITA edged up by 0.3 percent to MAD 2.91 billion and the adjusted EBITA margin was 31.3 percent, a decrease of 1.2 percentage points.

The group ended the first quarter with almost 69 million customers, a 11.3 percent increase over one year, driven by the sustained growth in customer bases in Morocco and in subsidiaries.

The group share of adjusted net income amounted to MAD 1.59 billion, an improvement of 0.9 percent from MAD 1.58 billion in the same period in 2019, supported by the growth of international activities.

Adjusted cash flows from operations amounted to MAD 2.89 billion, a 4.3 percent improvement over the same period in 2019, due to the increase in EBITDA. Capex decreased by 76 percent to MAD 527 million from MAD 2.19 billion in 2019.

The group's international activities recorded revenue of MAD 4.21 billion, up 6.9 percent from MAD 3.94 billion in 2019 thanks to significant growth in mobile data and mobile money services. International EBITDA improved by 12.4 percent to MAD 1.82 billion from MAD 1.62 billion in 2019. The EBITDA margin increased by 2.1 percentage points to 43.3 percent, thanks to the improved gross margin rate and controlled operational charges.

Turning to domestic operations in Morocco, it said revenue rose by 0.3 percent to MAD 5.40 billion from MAD 5.38 billion in 2019, driven by data, which more than offset the decrease in fixed line revenue. EBITDA fell 1.8 percent to MAD 2.97 billion from MAD 3.03 billion in 2019.  The EBITDA margin was 55.0 percent, down 1.2 points. Adjusted EBITA declined 3.1 percent to MAD 1.99 billion. It had 20 million mobile subscribers, up 3.5 percent year-on-year. This increase was driven by a 12.0 percent growth in the postpaid base and a 2.5 percent rise in the prepaid base.

Categories:

General

Companies:

Maroc Telecom

Regions:

Africa

Countries:

Morocco

Tags:

Voice services, Data services, Sales figures, Financial figures, Wireline, Wireless, Internet Access

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