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Maroc Telecom Revenues Drop Despite Higher Customer Base

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The Maroc Telecom group a Vivendi subsidiary has reported a 3.4% decline in its full year revenues of EUR 2.74 billion (USD3.68 billion), in a context of a 25% mobile price cut in Morocco and a particularly unfavorable regulatory and competitive environment.

The revenue decline came despite a 12.2% rise in its customer base, reaching 28.982 million, primarily driven by its activities outside of Morocco, where the customer base grew by 39.2% year-on-year.

In Morocco, revenues decreased by 5.2%. Mobile revenues from outgoing services were nearly stable at constant currency thanks to a strong increase in usage of 27% and the steady growth in the postpaid customer base (+25%). The increase in bandwidth and the enhanced offerings lead to a 19% increase in the Broadband Internet customer base.

Revenues outside of Morocco increased by 7.4%, driven by the sharp increase in the mobile customer base (+41%), notably in Mali where revenues rose by 33.7%. Maroc Telecom group's EBITDA dropped by 10% to EUR1.5 billion (USD2 billion), although the EBITDA margin of the Maroc Telecom group remained high, at approximately 55%.

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Tags: maroc telecom  vivendi  Morocco  Mali