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Marcoc Telecom returns to revenue growth in Q2
2014-07-21 08:21:00| Telecompaper Headlines
(Telecompaper) Maroc Telecom Group reported improved results for the second quarter, thanks to continued growth at its international activities and an economic recovery in its home market Morocco. Revenue returned to growth, up 1.3 percent year-on-year to MAD 7.4 billion, while the EBITDA decline slowed to 2.0 percent, to MAD 4.1 billion. The group's customer base rose to 38 million at 30 June, up by 9.2 percent year-on-year. Over the first six months, revenues were up 0.7 percent to MAD 14.6 billion, while EBITDA declined by 4.4 percent to MAD 8.03 billion. This was due to a 7 percent drop in EBITDA in Morocco only partially compensated by a 4.1 percent rise in EBITDA from international activities. The EBITDA margin fell by 2.9 percent points to 55.2 percent. Net income dropped 12.7 percent year-on-year to MAD 3.07 billion, and operating cash flow was down 4.9 percent to MAD 5.1 billion. The group maintained its annual forecast of a slight decline in EBITDA and slightly higher capital expenditures.
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Category:Telecommunications