Maroc Telecom Sees Customer Base and Revenue Growth in H1 2024

Maroc Telecom reported resilient operational results for H1 2024, with a 5.1% increase in the customer base, reaching 78.4 million. Consolidated revenues grew by 0.9%, driven by the Moov Africa subsidiaries’ performance. Mobile Data revenues for Moov Africa surged by 18.2%, and Fiber Optics in Morocco saw a 34.1% increase, compensating for declines in ADSL and Mobile revenues in Morocco. The Group’s adjusted EBITDA margin remained high at 51.9%, with sustained investments representing 17.6% of revenues.

For 2024, Maroc Telecom expects stable revenues and EBITDA, with CAPEX excluding frequencies and licenses around 20% of revenues. Net income and year-end debt are significantly impacted by the Wana Corporate litigation provision recorded at the end of June.

Maroc Telecom Group continues to show strong momentum in sub-Saharan Africa, achieving solid operating results in line with its targets. The Group fuels growth through significant investments and cost optimization programs, ensuring high profitability. Adapting proactively to market changes and customer needs, Maroc Telecom continuously evolves its product and service offerings.