Maroc Telecom : H1 2017 CONSOLIDATED RESULTS

​Highlights:

» 3.8% increase in the Group's customer base with over 55 million customers;
» 2.1% increase in consolidated outbound service revenues;
» The EBITDA margin rate improved by 1.4 pt to 50%, thanks to ongoing cost
optimization measures;
» 5.9% increase in Group share of adjusted* net income at constant exchange rates;
» Return to growth of mobile outbound revenues thanks to the good momentum of
Mobile internet;
» Acceleration of the roll-out of 4G+ in Morocco, which covered 80% of the population at
the end of June 2017;
» Continued development of Fixed Data, where revenues increased by 10% thanks to
the success of ADSL and fiber-optic high speed offers;
» Continuation of the recovery plan for Moov subsidiaries which generated positive net
income on an overall basis.
Updating of 2017 outlook at constant scope and exchange rates
► Slight decrease in revenues due to the new regulatory measures;
► Stable EBITDA;
► CAPEX of approximately 23% of revenues, excluding frequencies and licenses.

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