Itissalat Al Maghrib IAM S A : Maroc Telecom - Presentation HY 2022 Results 26/07/2022
July 26, 2022 at 01:29 am EDT
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HALF-YEAR RESULTS 2022
HIGHLIGHTS
H1 2022 highlights
INCREASE IN GROUP CUSTOMER BASE
INCREASE IN GROUP ADJUSTED EBITDA
CONTINUED REVENUE GROWTH OF THE MOOV AFRICA SUBSIDIARIES
+1.9%
HIGH LEVEL OF
GROUP CAPEX
MAINTAINED
GROWTH IN
ADJUSTED NET
+0.5%(1)INCOME
GROUP SHARE
+1.6%(2)
SUSTAINED GROWTH
IN FIXED DATA
REVENUES IN MOROCCO
21.2%
of revenues
+1.7%(1)
+7.3%
At constant exchange rates
+2.8% excluding the reduction in call termination rates and at constant exchange rates
3
Highlights I Business review I Financial review I Appendices
Overview
Customer base growth
Slight decline in consolidated revenues
(millions)
(MAD billions)
+1.9%
-0.6%(1)
73.6
74.9
17.8
17.6
+2.8%
8.5
8.6
+1.6%(2)
50.2
51.6
International
Morocco
-0.2%
9.8
9.6
-2.2%
23.4
23.3
H1 2021
H1 2022
H1 2021
H1 2022
Group customer base up nearly
2% to
74.9
Increased
revenues from the Moov Africa
million driven by growth in subsidiary customer
subsidiaries
driven by Data (+29%(1)), partly
bases
offsetting the fall in Morocco revenues
At constant exchange rates
+2.8% excluding the reduction in call termination rates and at constant exchange rates
4
Highlights I Business review I Financial review I Appendices
Regulatory highlights
MOROCCO
Notification on July 22, 2022 of the decision of the ANRT's Management Committee relating to the liquidation of the penalty imposed on Maroc Telecom in the context of January 17, 2020's decision relating to unbundling. The amount of the penalty is set at
2.45 billion MAD, and Maroc Telecom has 30 days to appeal to the Rabat Court of Appeal;
-
Wana legal proceedings on local loop unbundling pending at the Rabat Commercial Court;
-
Maintenance of levels of Mobile termination asymmetry in favor of competitors and regulatory constraints on IAM's retail offerings, including an economic environment advantageous to competitors.
SUBSIDIARIES
Reduction in Mobile termination rates in Mauritania, Côte d'Ivoire, Gabon, Togo and Niger;
-
Pressure from the authorities regarding customer identification and quality of service obligations;
-
Continued high levels of sector contributions;
-
Decisions to regulate retail prices in Benin and Internet prices in Chad;
5
Highlights I Business review I Financial review I Appendices
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Maroc Telecom - Itissalat Al-Maghrib published this content on 26 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2022 05:28:05 UTC.
Maroc Telecom is Morocco's No. 1 telecommunications operator. Net sales (including intra-group) break down by activity as follows:
- mobile telephony (58.4%): 19.5 million customers in Morocco at the end of 2020, distributed between customers with prepaid cards (17.2 million) and with post-paid subscriptions (2.3 million). At the end of 2020, the group owned 13,000 base stations;
- fixed telephony and Internet (41.6%): fixed telephony services (2 million lines installed in Morocco as of the end of 2020), interconnection services, data transmission, and Internet access (1,738,000 subscribers). At the end of 2020, the network had a total of 45,000 km of urban fiber optic and intercity fiber optic cables.
Products and services are marketed through a network of 4,400 owned agencies, more than 75,000 group-approved points of sale (tobacconists, local shops, etc.) and independent distribution channels.
Morocco accounts for 56.8% of net sales (including intra-group).
ITISSALAT AL-MAGHRIB (IAM) S.A. 
