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Maroc Telecom to acquire Tigo Chad from Millicom

2019-03-15 08:32:00| Telecompaper Headlines

(Telecompaper) Maroc Telecom has signed an agreement with Millicom to acquire 100 percent of the shares of its subsidiary Tigo Chad. The acquisition aims to consolidate the presence of Maroc Telecom in Africa, while continuing Millicom's gradual exit from Africa to focus on Latin America.

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Maroc Telecom cuts FY revenue forecast after 2.8% fall in H1

2017-07-24 09:15:00| Telecompaper Headlines

(Telecompaper) Maroc Telecom group's adjusted net profit increased by 5.7 percent to MAD 2.92 billion in the first six months to 30 June from MAD 2.77 billion in the same period in 2016, thanks to the sharp increase in the net income of the African subsidiaries' activities. Revenues however declined by 2.8 percent to MAD 17.09 billion, primarily due to the deregulation of IP telephony in Morocco and the decrease in call termination rates. Maroc Telecom said it now expects lower underlying revenues in the full year.

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Maroc Telecom launches FTTH across Morocco

2016-06-24 08:34:00| Telecompaper Headlines

(Telecompaper) Maroc Telecom has announced that its Fibre to the Home (FTTH) service is now available in every major city in Morocco after positive results from trials in selected districts in Casablanca and Rabat. The company provides two packages: 50 and 100 Mbps. Customers can also choose between Fiber Optic only or as part of the MTBox package. MTBox Fiber Optic allows unlimited calls to domestic fixed-line numbers and, depending on the package chosen, 5 to 10 hours of free calls to domestic mobile numbers, as well as access to the Prestige or Evasion package, it said in a statement.

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Maroc Telecom FY revenue grows 17% to MAD 34 bln

2016-02-15 09:27:00| Telecompaper Headlines

(Telecompaper) Maroc Telecom Group's revenues increased to MAD 34.13 billion in 2015, up 17.1 percent on the year thanks to the consolidation of African subsidiaries acquired from its parent Etisalat and revenue stabilization in its home market Morocco. Customers numbered nearly 51 million at the end of 2015, up 26 percent year-on-year. EBITDA amounted to MAD 16.74 billion, up 6.7 percent from the previous year. Despite the dilutive effect of the new subsidiaries, the group's EBITDA margin was nearly stable year-on-year at 49.0 percent, thanks to continuing efforts to control direct costs and minimize operating costs. Net profit fell 4.3 percent to MAD 5.6 billion, mainly due to the losses generated by the new subsidiaries. Cash flow from operations was MAD 9.36 billion, down 19 percent from 2014, following the 80 percent growth in capital investment. Maroc Telecom is projecting for 2016 stable revenues and a slight decrease in EBITDA at constant scope and exchange rates and capital expenditure around 20 percent of revenues, excluding frequencies and licences.

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Maroc Telecom accelerates growth in Q3

2015-10-26 09:01:00| Telecompaper Headlines

(Telecompaper) Maroc Telecom Group recorded third-quarter revenues up 4.8 percent on a like-for-like basis, thanks to a return to growth in Morocco (+3.3%) and accelerating International growth (+8.7%). Its customer base reached 51 million at 30 September, up 29 percent year-on-year, thanks to the acquisition of new subsidiaries from its parent Etisalat. EBITDA was up 5.1 percent on a like-for-like basis thanks to Morocco's EBITDA resumed growth (+1.6%) and the strong increase in International EBITDA (+13.2%). Over the first nine months of the year, revenues rose 16.6 percent to MAD 25.5 billion, and EBITDA was up 6.2 percent to MAD 12.76 billion. Net profit fell 6.2 percent to MAD 4.32 billion due to higher costs for the acquisition and consolidation of the new subsidiaries. Operating cash flow in the year to date was MAD 7.03 billion, 9.4 percent less than the same period the previous year as a result of the payment of the 4G licence in Morocco (MAD 910 million) and the renewal of the 2G licence in Mauritania for MAD 301 million. Excluding licences, cash flow was up 6.2 percent, as the 61 percent increase at the International activities more than offset the 12 percent decrease in Morocco. The Group's International activities posted revenues of MAD 10.22 billion, up 60.3 percent as a result of the group's broader scope and up by 6.5 percent on a like-for-like basis. The historical subsidiaries increased revenue 7.9 percent at constant exchange rates, and the newly acquired subsidiaries grew by 4.6 percent on the same basis. Third-quarter revenues from the International activities were up 8.7 percent, driven by the acceleration in growth at the new subsidiaries (+11.4%), impelled mainly by strong performance in the Ivory Coast and Niger.

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