Maroc Telecom shows robust performance at the end of the first half of this year, demonstrating the strength of its fundamentals and its resilience in a challenging economic context.

The group has recorded a 5.1% growth in its customer base over the past year, reaching 78.4 million customers as of June 30, 2024. This progress is primarily driven by the Moov Africa subsidiaries, which have experienced a significant 8.9% increase in their customer base. This positive dynamic illustrates Maroc Telecom's ability to attract and retain new subscribers through a diversified offer tailored to market needs.

The group's consolidated revenues amount to over 18.26 billion dirhams, a 0.9% increase at constant exchange rates. This performance is supported by strong growth in Mobile Data revenues (18.2%) and Fiber Optic revenues in Morocco (34.1%). These segments have offset the decline in ADSL and Mobile revenues in Morocco, demonstrating Maroc Telecom's ability to reinvent itself and adapt to new consumption trends. The notable increase in Fiber Optic revenues confirms consumer interest in high-speed connectivity solutions

Maroc Telecom maintains an adjusted EBITDA margin of nearly 52%, reflecting its ability to optimize costs while maintaining solid profitability. The group's investments, representing 17.6% of revenues (excluding frequencies and licenses), demonstrate its commitment to supporting long-term growth and continuously improving its infrastructure. These strategic investments enable Maroc Telecom to strengthen its leadership position in the telecommunications market in Africa, providing high-quality services to its customers.

The financial results of the Moov Africa subsidiaries are particularly noteworthy, with a 3.7% increase in revenues, reaching 9.326 billion dirhams. The exceptional performance in Mobile Data (18.2%) and Fixed Internet (21.6%) illustrates the group's successful expansion and diversification strategy across the African continent. These results highlight the significant contribution of the subsidiaries to the group's overall growth, reinforcing Maroc Telecom's presence as a key player in telecommunications in Africa

Despite the challenges faced, including the decline in Mobile segment revenues in Morocco, Maroc Telecom has managed to maintain solid financial indicators. The group's adjusted net income has increased by 0.9%, reaching 2.943 billion dirhams. This performance demonstrates the group's resilience and ability to navigate a complex environment while continuing to generate value for its shareholders. Maroc Telecom's strategy, focused on innovation, investment, and cost optimization, continues to pay off, ensuring sustainable and profitable growth.

The source of the article is l'observateur