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Maroc Telecom Q1 revenue down 4.7% to MAD 7.18 bln
2013-04-30 09:32:00| Telecompaper Headlines
(Telecompaper) Maroc Telecom Group's revenues for the first quarter declined by 4.7 percent year-on-year to MAD 7.18 billion. The group attributed the slump in revenue to slower consumer spending in Morocco, where revenues fell 7.5 percent. This was partially offset by 7 percent growth at its international activities. The customer base reached nearly 34 million at 31 March, up 14.1 percent year-on-year, led by growth at the international business, which grew by 32 percent to 14 million customers. EBITDA amounted to MAD 4.23 billion, an increase of 0.1 percent, and the EBITDA margin rose by 2.8 percent points to 58.9 percent. This included a 3.4 percent decline in EBITDA in Morocco, compensated by strong growth in international EBITDA. The result was further helped by a higher gross margin (boosted by lower mobile termination rates), reduced customer acquisition costs and operating expenses, and a voluntary redundancy plan in the second half of 2012. EBITA was also up 0.1 percent to MAD 3.04 billion, while operating cash flow was down 13.2 percent to MAD 2.32 billion, after higher spending on network upgrades in Morocco.
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Category:Telecommunications