More Africa NewsMaroc Telecom reports revenues of MAD36.8bn in 2021

February 18, 2022by myles0

Maroc Telecom (IAM) has published its financial results for the twelve months ended 31 December 2021, reporting a 2.7% decrease in revenues from MAD36.769 billion (USD3.9 billion) to MAD35.790 billion, attributed to an 8.1% drop in mobile revenues generated by the group’s domestic unit, which was partly offset by growth in its Moov Africa international units and fixed broadband operations in Morocco. The telco’s adjusted annual EBITDA remained flat at MAD11.586 billion, mainly due to a 6.0% decline in pre-tax earnings from domestic operations, which was partly offset by a 2.9% increase in its subsidiaries’ EBITDA. IAM’s consolidated earnings from operations reached MAD11.586 billion in 2021, a marginal 0.4% increase y-o-y, while the adjusted group’s share of net income amounted to MAD6.014 billion, up 0.5% when compared to 2020. CAPEX excluding frequencies and licences amounted to MAD5.615 billion at the end of December 2021, up by 62.8% y-o-y.

In operational terms, the group reported annualised growth of 1.8% for its consolidated subscription base, with the total standing at over 74 million at end-2021. In Morocco, mobile subscriptions marginally increased by 2.1% y-o-y to reach 19.900 million, up from 19.498 million in 2020; the telco’s 3G/4G user base passed 10.633 million, while broadband subscriptions decreased by 0.2% y-o-y to 1.735 million. In Mauritania, mobile accesses increased by 13.0% to 2.985 million, while Chad saw a sizeable 12.3% y-o-y rise in mobile subscriptions to 5.138 million at 31 December. Furthermore, mobile subscriber growth was also reported in the Central African Republic (210,000, up 11.5%), Burkina Faso (10.457 million, 11.4%), Benin (5.132 million, 9.6%), Niger (3.212 million, 6.9%), Cote d’Ivoire (10.489 million, 4.4%) and Gabon (1.656 million, 1.5%), while Mali and Togo reported annual declines of 15.7% (to 8.011 million subscriptions) and 20.5% (2.687 million) respectively.

Source: Commsupdate

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