Morocco’s telecom has achieved impressive results for the first half of the year, surpassing expectations.
The group saw a significant 4.7% increase in transactions, mainly due to the growth of their “Moov Africa” branches, which reached an impressive 8.5% or more.
They also experienced strong growth in mobile internet transactions (28.3%) and Mobile Money (11.8%) across these branches.
The company saw a decrease of 12.4% in ADSL transactions due to fewer customers, but this was compensated by the rise in Fiber-to-the-Home (FTTH) transactions in Morocco.
Despite a 2.5% decrease in mobile internet revenues, Maroc Telecom’s overall performance was positive. Their Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) grew by 4.5%, driven by a remarkable 9.3% improvement in “Moov Africa” branches. The group’s adjusted net income also grew by 2.3%.
Looking ahead to 2023, the company predicts stable transaction volumes and EBITDA in a steady economic and exchange rate environment. They plan to invest around 20% of transaction numbers, excluding frequencies and licenses.
In a press release, Maroc Telecom announced that they successfully achieved their objectives for the first half of 2023.
As of June 2023, Maroc Telecom serves approximately 75 million customers, with a slight decrease of 0.5% compared to the previous year.
In Morocco, they have 19.6 million mobile phone customers, with a 2.6% increase in deferred payment customers. The fixed phone customers total about 1.9 million lines, and they have 1.6 million high-speed broadband subscribers, with a notable 43% increase in fiber-optic customers.
Internationally, they serve 50.966 million mobile phone customers across countries such as Burkina Faso, Ivory Coast, Mali, Chad, Benin, Niger, Mauritania, Gabon, Togo, and Central African Republic.
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