Maroc Telecom has reported strong operational results for the first half of 2024, with a 5.1% increase in its customer base, reaching 78.4 million. The Group’s consolidated revenues grew by 0.9%, driven primarily by the performance of its Moov Africa subsidiaries. Notably, Mobile Data revenues for Moov Africa surged by 18.2%, and Fiber Optics in Morocco saw a 34.1% increase, offsetting declines in ADSL and Mobile revenues in Morocco.
The Group’s adjusted EBITDA margin remained robust at 51.9%, with sustained investments accounting for 17.6% of revenues. For 2024, Maroc Telecom anticipates stable revenues and EBITDA, with capital expenditures (excluding frequencies and licenses) around 20% of revenues. However, net income and year-end debt are significantly impacted by the litigation provision for Wana Corporate recorded at the end of June.
Maroc Telecom Group continues to exhibit strong momentum in sub-Saharan Africa, achieving solid operating results in line with its targets. The Group drives growth through significant investments and cost optimization programs, ensuring high profitability. By proactively adapting to market changes and customer needs, Maroc Telecom continuously evolves its product and service offerings to maintain its competitive edge.
