PRESENTATION OF 2024 ANNUAL RESULTS
February 14, 2025
1
Highlights
HIGHLIGHTS | BUSINESS | FINANCIAL | OUTLOOK | APPENDICES |
REVIEW | REVIEW |
2024 KEY FIGURES
Increase in Group customer base
Consolidated revenues up
Growth in Group EBITDA
Continued growth in Fixed Data revenues in Morocco
Continued revenue growth among the Moov Africa subsidiaries
- At constant exchange rates
- +5.2% excluding the reduction in call termination rates and at constant exchange rates
+4.5%
+1.2% (1)
+0.3% (1)
+9.2%
+4.6% (2)
3 | 3 |
HIGHLIGHTS | BUSINESS | FINANCIAL | OUTLOOK | APPENDICES |
REVIEW | REVIEW |
HIGHLIGHTS
Morocco
Ongoing asymmetric regulation that favors competitors, particularly in call termination rates and the retail market;
Signing of the seventh investment agreement between Maroc Telecom and the government for the development of telecommunications in the Kingdom. Under this agreement, Maroc Telecom commits to implementing a 10 billion dirhams (excluding taxes) investment program over three years, aimed at developing and strengthening telecommunications infrastructure, deploying Very High- Speed Mobile and Fixed Broadband, and creating new jobs.
Subsidiaries
Renewal of licenses in Mali and Chad, and authorization to launch 4G in the Central African Republic;
Tightening of customer identification conditions and coverage and service quality controls;
High level of sector contributions.
4 | 4 |
HIGHLIGHTS | BUSINESS | FINANCIAL | OUTLOOK | APPENDICES |
REVIEW | REVIEW |
OVERVIEW
Customer base growth
+4.5%
Consolidated revenue growth
36.8 | +1.2% | (1) | 36.7 |
75.9
79.3
+8.1%
18.4 | 18.7 | +4.6% (2) |
52.8 | 57.1 |
23.1 | 22.2 -3.7% |
(millions) | |
2023 | 2024 |
Maroc Telecom Group customer base up 4.5% to
79.3 million customers, driven by 8.1% growth of the Moov Africa subsidiaries customer base
- At constant exchange rates
- +5.2% excluding the reduction in call termination rates and at constant exchange rates
19.5 | 19.1 | ||
Moov Africa | -2.0% | ||
Morocco | |||
(MAD bn) | |||
2023 | 2024 | ||
Group revenues | increased by 1.2%(1), driven by |
4.6%(2) growth in Moov Africa subsidiaries and 2.3% increase in Moroccan Fixed-Line activities
5 | 5 |
HIGHLIGHTS | BUSINESS | FINANCIAL | OUTLOOK | APPENDICES |
REVIEW | REVIEW |
2024 RESULTS ABOVE TARGET
2024
outlook(1)
STABLE REVENUES
STABLE EBITDA
CAPEX(2) OF APPROXIMATELY
20% OF REVENUES
- At constant scope and exchange rates
- Excluding frequencies & licenses
2024
achievements(1)
+1.2%
+0.3%
20.8%
6 | 6 |
HIGHLIGHTS | BUSINESS | FINANCIAL | OUTLOOK | APPENDICES |
REVIEW | REVIEW |
DIVIDENDS
PROPOSED DIVIDEND OF
MAD 1.43 PER SHARE
7 | 7 |
2
BUSINESS REVIEW
HIGHLIGHTS | BUSINESS | FINANCIAL | OUTLOOK | APPENDICES |
REVIEW | REVIEW |
MOROCCO - MOBILE
Mobile customer base
19.8 | -3.1% | |
19.1 | ||
2.5 | 2.6 | +5.0% |
17.3 | 16.5 | -4.3% | |
(millions) | Postpaid | ||
Prepaid | |||
2023 | 2024 |
Increase of 5.0% in the postpaid customer base Decrease of 4.7% in blended ARPU to 43.3 MAD/month
Mobile revenues
11.6 | -5.5% |
11.0 |
-17.4% -9.0%
-4.4%
(MAD bn)
2023 | 2024 |
Equipments and other revenues Incoming revenues
Outgoing revenues
9 | 9 |
HIGHLIGHTS | BUSINESS | FINANCIAL | OUTLOOK | APPENDICES |
REVIEW | REVIEW |
MOROCCO - FIXED-LINE AND INTERNET
Fixed-Line and Internet | Fixed-Line and Internet | ||||||
customer bases(1) | revenues | ||||||
+2.3% | |||||||
9.7 | 9.9 | ||||||
+0.0% | |||||||
1.8 | 1.6 | 1.7 | -7.4% | +9.2% | |||
1.5 | |||||||
Fixed-line | |||||||
-7.3% Internet | -5.4% | ||||||
(millions) | (MAD bn) | ||||||
2023 | 2024 | 2023 | 2024 |
Intra LL Maroc Telecom
Data(2)
Voice (including transit and others)
Growth in Data revenues offsets decline in Voice revenues
29% growth in FTTH customer base, partly offsetting the decline in ADSL customer base
- Including low-speed, leased lines and FTTH
- Fixed data includes Internet, TV on ADSL and Data services to companies
10 | 10 |