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Thursday, December 1, 2022

Maroc Telecom Group Achieves Consolidated Revenues of almost MAD 27 Bln

Maroc Telecom Group achieved consolidated revenues of nearly MAD 26.81 billion at the end of September 2022, up 0.1% (+0.3% at constant exchange rates).

International activities continued to grow and recorded an increase of 1% (+1.5% at constant exchange rates) and compensated for the slight decline in activities in Morocco (-0.5%), explains the group in a press release on its financial results.

Under the combined effect of a good summer season and the continued growth of Fixed-line data, activities in Morocco generated revenues of MAD 14.80 billion in the first nine months of 2022, down slightly (-0.5%) compared with 2021.

Fixed-line and Internet activities generated revenues of MAD 7.24 billion, up 2.6%, mainly driven by Data (+7.6%) and FTTH services (+36.8%), offsetting the decline in Voice.

Mobile revenues slowed down to 2.9% and reached 8.93 billion MAD at September 30, 2022, the operator said.

Internationally, Group revenues rose by 1% (+1.5% at constant exchange rates) to MAD 12.801 billion at end-September thanks to the continued good momentum of Mobile Data (+29.1% at constant exchange rates).

Excluding the drop in call terminations, subsidiaries’ revenues were up 2.5% at constant exchange rates.

In the third quarter of 2022, Maroc Telecom Group returned to revenue growth despite an inflationary context and regulatory pressures, Maroc Telecom underlines.

Group consolidated revenues improved by 0.3%, driven by a summer seasonality effect in Morocco (+2.8% in Q3 2022) and by a 1.5% increase in subsidiaries’ activities.

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