Telecommunications group Maroc Telecom has invested 3.2 billion dirhams ($326.1 million) in its activities during the first half of 2024. This represents an increase of 9.8% compared to the 2.9 billion dirhams invested during the first six months of the 2023 financial year.

Of the total amount invested, 22 million dirhams were devoted to the acquisition of licenses and frequencies. Maroc Telecom invested 1.5 billion dirhams in Morocco, compared to 1.67 billion dirhams in all of its Moov Africa subsidiaries.

These various investments have enabled the company to increase its subscriber base to 78.4 million customers, an increase of 5.1% year-on-year. Financial indicators have remained more or less stable. The group’s consolidated turnover increased from 18.3 billion dirhams to 18.2 billion dirhams. Earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 1.9% to 5.9 billion dirhams. The group’s adjusted net income increased by 0.3%, or 2.94 billion dirhams.

For the year 2024, “  at constant scope and exchange rates  ”, Maroc Telecom is targeting stable revenues, stable EBITDA and CAPEX (capital expenditures) excluding frequencies and licenses of around 20% of revenues. The company also expects its net income and year-end debt to be significantly impacted by the provision for the Wana Corporate (Inwi) litigation.

Source: Agency EcoFin