Maroc Telecom exceeds financial targets in H1 2019
26 July 2019
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.