Maroc Telecom Group has achieved a consolidated turnover of nearly 17.57 billion dirhams at the end of June 2022, down by 1.2% (-0.6% at constant exchange rates).
Mobile activities in Morocco have continued to suffer from the competitive and regulatory environment (-5%) and are partly offset by the good performance of international activities (+1.6% at constant exchange rates) and Fixed-line activities in Morocco (+1.6%), explained the group in a statement on its half-year results.
In detail, revenues in Morocco showed a moderate decline compared to the same period of 2021 (-2.2% in H1-2022 compared to -7.1% in H1-2021) and stood at MAD 9.56 billion. Fixed-line Data revenues continued to benefit from the FTTH craze, offsetting the decline in Mobile Data activities.
Mobile revenues declined to MAD 5.68 billion, as a result of lower revenues from outgoing and incoming services in a still unfavorable competitive and regulatory environment.
Fixed-line and Internet revenues grew by 1.6%. The 7.3% growth in Data revenues, driven by the performance of FTTH services, offset the decline in Voice revenues.
Internationally, the Group’s activities improved by 0.4% over the first six months of the year to more than 8.55 billion MAD (+1.6% at constant exchange rates), driven by the good performance of Mobile Data (+29% at constant exchange rates). Excluding the drop in call terminations, the subsidiaries’ revenues are up 2.8% at constant exchange rates.
“Maroc Telecom Group’s achievements in the first half of this year are driven by the good dynamics of the Moov Africa subsidiaries’ activities and the constant efforts to optimize costs, despite an inflationary context and an increasingly intense competitive environment”, Maroc Telecom underlined.
It added: “Maroc Telecom Group continues to deploy its investment plans in order to effectively support the development of mobile and fixed-line data usage and to pursue its innovation and digital transformation projects”.
“The Group’s strategy is thus part of an inclusive approach to value creation for Maroc Telecom and its ecosystem both in Morocco and in the countries where it operates in Sub-Saharan Africa,” the same source concluded.