Maroc Telecom reports 6.9% increase in profit to MAD8.7bn for 9M13
Maroc Telecom, a subsidiary of French media group Vivendi, has published its financial results for the nine months ended 30 September 2013, reporting a 6.9% year-on-year increase in net profit to MAD8.654 billion (USD1.062 billion), up from MAD8.097 billion reported in 3Q12.
The group’s revenue for the nine month period, however, declined by 4.7% to MAD21.467 billion, due to lower revenues in its domestic market, partially compensated by 9.5% annual growth in the company’s international operations over the same period. Maroc Telecom’s EBITDA also decreased by 1.1% to MAD12.383 billion; the slump was attributed to a 6.9% decline in EBITDA in Morocco.
In operational terms, Maroc Telecom reported healthy annualised growth of 8.8% for its consolidated customer base, with the total number of customers approaching 36 million mark at end-September 2013. In Morocco, wireless customers increased by 1.6% to 18.31 million, with more than 262,000 net acquisitions during the third quarter; the wireline customer base grew by 8.0% to 1.35 million users, while broadband customers increased by 21.8% y-o-y to 790,000.
In Mauritania, wireless numbers decreased by 8.8% to 1.88 million users, due to intense competition in the market, while broadband subscriptions increased by 10.3% to 7,314. In Burkina Faso, the Office Nationale des Telecommunications (Onatel, inc Telmob) saw its wireless subscribers increase by 11.4% y-o-y to 4.22 million by 30 September, although its broadband customer base declined by 13.6% to 25,699. Further, Gabon Telecom reported a 21.3% increase in the number of its mobile users to 975,000, while Mali-based operator Societe des Telecommunications du Mali (SOTELMA) increased its mobile subscribers 32.7% to 7.98 million in 3Q13.
Abdeslam Ahizoune, Maroc Telecom chairman of the management board, stated: ‘Despite ongoing intense competition and a difficult economy, Maroc Telecom is seeing its strategies pay off. As a result of the quality and innovation that characterise its offers, and thanks to cost-cutting efforts, the Group is able to maintain its annual targets. To satisfy the rapid growth of voice and internet use over all its networks, the Group continues to invest in Morocco and in its sub-Saharan African subsidiaries, with an emphasis on providing a rapid transition from high-speed to very-high-speed broadband.’