Maroc Telecom FY2020 Consolidated Results
CONSOLIDATED RESULTS AT 31 DECEMBER 2020Operating results in line with objectives thanks to strong performances at the subsidiaries: 8.1% growth of the Group’s customer base, to nearly 73 million customers;Growth in the revenues of the Moov Africa subsidiaries (+1.4% on a like-for-like basis*), driven by Data Mobile and Mobile Money services;Sustained growth in Fixed Data in Morocco (+13.2%);Increased profitability with an adjusted EBITDA margin for the Group of 51.9%, an improvement of +0.7 pt on a like-for-like basis*. Proposed dividend payment of MAD 3.5 billion, implying MAD 4.01 per share, representing a yield of 2.8%**.Maroc Telecom Group outlook for 2021 at constant scope and exchange rates:Decrease in revenues;Decrease in EBITDA;CAPEX of maximum 15% of revenues, excluding frequencies and licences.To mark the publication of this press release, Mr Abdeslam Ahizoune, Chairman of the Management Board, stated:
« In 2020, the Maroc Telecom Group posted operating results in line with objectives. Thanks to ongoing efforts to control costs and multiple innovations, the Group has maintained its margins, demonstrating thus its resilience and its strong capacity to adapt to the conditions imposed by an unprecedented health and economic crisis. In Morocco, despite the effects of this crisis and strong competitive pressure, the significant investments made in Broadband support its leadership and its position as forerunner operator. Internationally, the Group has chosen to bring together its subsidiaries in Africa, under a common “Moov Africa” visual identity, reflecting their good growth momentum .The digitisation project launched by the Group continues and has proved its effectiveness in front of the constraints imposed by the pandemic. »* The like-for-like basis illustrates the consolidation effects of Moov Africa Chad and the use of a constant exchange rate MAD/Ouguiya/Franc CFA
** Based on the share price of February,18th 2021 (MAD 145.30)
adjusted consolidated results* of the group*The adjustments to the financial indicators are detailed in Appendix 1.► Customer base
