Maroc Telecom exceeds financial targets in H1 2019

26 July 2019

Mergers, Acquisitions and Financial Results

Maroc Telecom (IAM) has published its financial results for the six months ended 30 June 2019, reporting a 0.5% decrease in revenues from MAD17.939 billion (USD1.86 billion) to MAD17.844 billion, attributed to a 4.0% drop in sales generated by the group’s international operations, which was partly offset by a 1.4% increase in revenues in its domestic market.

The telco’s six-month EBITDA increased by 6.2% year-on-year to MAD9.409 billion, fuelled by a 10.7% growth in pre-tax earnings from domestic operations, despite a 1.4% decrease in its subsidiaries’ EBITDA contribution. IAM’s consolidated earnings from operations reached MAD5.862 billion in 1H19, a 5.8% increase y-o-y, while the group’s share of adjusted net income amounted to MAD3.022 billion, up by 1.0% when compared to 1H18. CAPEX including frequencies and licence costs amounted to MAD3.227 million at the end of June 2019, down 10.3% y-o-y.

Source: Telegeography