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A good year 2019 for Maroc Telecom

Maroc Telecom released its consolidated financial results for fiscal 2019 on Monday.

The operator thus reports “solid operational performance”, which has enabled him to achieve “growing results, above his annual objectives”, as underlined by Abdeslam Ahizoune, chairman of the board of directors of Maroc Telecom.

The group says it saw its customer base grow by 11.1% in 2019, to reach 67.5 million customers, in connection with the growth of the mobile and fixed fleet in Morocco (+5.2% and +3.5% respectively) as well as the expansion of the group’s scope with the integration of Tigo Tchad since July 1, 2019.

Note that the Fixed and Internet activities in Morocco generated a turnover of 9,261 million dirhams, up 0.2%.

Maroc Telecom’s revenues rose 0.9% year-on-year, “thanks to the boom in mobile data in Morocco and in the subsidiaries”, it said in the group’s press release.

In terms of profitability, it emerged reinforced with an EBITDA (Earnings before interest, taxes, depreciation, and amortization) margin of 51.8% “an improvement of 1.2 points on a comparable basis, favored by continuous optimization of costs”.

Overall, and “apart from the impact of the ANRT fine, the Maroc Telecom group improves its performance”, comments Ahizoune, adding that “the group confirms the relevance of its strategy based on ever more efficient networks and a range of adapted services to the expectations of both the domestic market and that of the subsidiaries”.

As for prospects, “Maroc Telecom will continue in 2020 its investment efforts and the digitization of its services to improve the customer journey and the operational efficiency of its organization,” announced the Chairman of the Management Board.

As such, “on the basis of recent market developments and insofar as no new major exceptional event would disrupt the Group’s activity”, Maroc Telecom forecasts a figure for 2020, at constant scope and exchange rates, stable business and EBITDA. At the end of 2020, CAPEX (Capital expenditure) would represent almost 15% of turnover, excluding frequencies and licenses.

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