Maroc Telecom: net income of MAD 1.47 billion in Q1-2021

Maroc Telecom Group posted in Q1-2020, adjusted net income group share (RNPG) of 1.47 billion dirhams (billion dirhams), down 7.7% (-8.1% at constant exchange rates) compared to Q1-2020.

In a press release on its quarterly results, the operator specifies that Maroc Telecom’s adjusted consolidated operating profit (EBITA) amounted to MAD 2.74 billion, down 5.7% (-6, 2% at constant exchange rate) on a trend similar to that of EBITDA.

The adjusted EBITA margin thus stood at the high level of 30.8% (-0.4 pt at constant exchange rates), further indicates the Group which reports an adjusted operating result (EBITA) for the activity in Morocco down 12.4% to 1.74 billion dirhams, and a margin down 1.2 pt to 35.7%.

On the other hand, the EBITA of the international activity improved by 8.7% (+ 7.1% at constant exchange rate), to more than MAD 1 billion. Its margin rate increased by 1.4pt (+1.5pt at constant exchange rates) to 23.3%.

Regarding Maroc Telecom Group’s operating income before depreciation and amortization (EBITDA), it fell 4.9% (-5.5% at constant exchange rates) to 4.56 billion dirhams. Its margin rate remained at the high level of 51.2% thanks to rigorous cost management.

Maroc Telecom’s adjusted net operating cash flow (CFFO) decreased by 7.3% (-8.1% at constant exchange rates) to MAD 2.68 billion, mainly due to lower EBITDA.

In Morocco, these flows contracted by 24.6% to 1.22 billion dirhams, while internationally, they increased by 14.7% to 1.46 billion dirhams.

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