Maroc Telecom annual revenues up 7.2%, growth slows to 3.9% in 4Q

Mergers, Acquisitions and Financial Results

Maroc Telecom has reported consolidated revenues of MAD29.52 billion (USD3.56 billion) in 2008, up 7.2%, thanks to the continuing growth of its domestic and international mobile businesses. In the fourth quarter of the year, consolidated sales grew 3.9% year-on-year to MAD7.48 billion.

Gross mobile revenues in Morocco amounted to MAD18.53 billion in 2008, up 8.4%, with the customer base reaching 14.456 million at 31 December 2008, up 8.5% compared to the end of 2007. Mainly due to the huge customer growth in 2007 (+2.6 million), the annual churn rate in 2008 increased to 34.9%.

Fixed line and internet activities in Morocco generated 2008 gross revenues of MAD9.68 billion, up 2.5% thanks to the continuing growth of data (+26%) and internet (+5%) revenues, and despite the 1.2% decrease in average monthly invoices. The fixed line subscriber base reached 1.299 million lines at end-December, down 2.8% year-on-year. Fixed internet access lines stood at 482,000 at end-2008 (99% ADSL), up 1.3% compared to 2007, to which the operator also added nearly 30,000 mobile ‘3G+’ broadband subscribers and 10,000 IPTV customers.

Amongst Maroc Telecom’s subsidiaries, Mauritel in Mauritania ended the year with 1.142 million mobile users, up from 905,000 at end-2007; Onatel (Burkina Faso) increased its cellular base from 564,000 to 977,000; whilst Gabon Telecom had 447,000 mobile subscriptions at end-December, up 15.8% year-on-year.