The telecommunication group Maroc Telecom announced positive growth in the first quarter of 2024, signaling strong operational and financial performance with a favorable outlook compared to last year.
Maroc Telecom reported an adjusted net income of 1.528 billion MAD, up 0.5% at a constant exchange rate. However, the operating cash flow fell to 2.838 billion MAD, a 15.5% fall over the same period in 2023, due to higher expenditures in investments.
The group emphasized its focus on customers as it reported an increase in its customer base, which grew by 2.7% and reached a total of 77.1 million customers. This growth was accompanied by a 1.2% increase in consolidated revenues, supported by the strong performance of its subsidiaries.
Mobile data revenues for Maroc Telecom’s subsidiaries operating under “Moov Africa” showed a significant increase of 21.7%, while Fixed Data revenues in Morocco grew by 7.6%.
Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the company increased by 1.7% (within Morocco +1.4% and up 2.0% for its subsidiaries).