Maroc Telecom Achieves Record-Breaking Financial Success in 2023

Friday 16 February 2024 - 16:00

In a spectacular demonstration of financial strength, Maroc Telecom, the leading force in the Moroccan telecommunications market, has revealed extraordinary results for the fiscal year concluding on December 31, 2023. The company has reported a consolidated adjusted net profit (RNPG) surpassing an astonishing 6.19 billion dirhams, solidifying its position as an industry giant.

According to the group's official statement, the consolidated adjusted operating result (EBITA – earnings before interest, tax, and amortization) has surged to an impressive 12.22 billion dirhams, marking a 6.6% increase (5.5% at constant exchange rates) compared to the previous year. This noteworthy accomplishment serves as a testament to Maroc Telecom's unwavering dedication to operational excellence.

The adjusted EBITA margin rate stands at a formidable 33.2%, showcasing a 1.3 percentage point increase at constant exchange rates over the previous year, further accentuating the company's unparalleled performance.

Maroc Telecom's consolidated adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) have also experienced a remarkable upswing, surging by 4.7% to surpass 19.36 billion dirhams (3.5% at constant exchange rates). This impressive growth can be attributed to the combined efforts of increasing consolidated revenue and the implementation of efficient operational cost management strategies.

The adjusted EBITDA margin rate has appreciated by 0.9 percentage points (1.0 percentage point at constant exchange rates), driven by the rise in revenue and rigorous cost management practices, illustrating the company's laser-focus on profitability.

In terms of investments, excluding frequencies and licenses, they constituted 21.3% of revenue as of December 31, 2023, aligning seamlessly with the Group's objectives.

In 2023, the adjusted net operating cash flow (CFFO) declined by 10.6% at constant exchange rates, reaching 10.21 billion dirhams, while the Group's consolidated net debt represented a mere 0.8 times the Group's annual EBITDA, a figure that underscores the company's sound financial management.

Maroc Telecom's outstanding financial results for 2023 solidify its status as a telecommunications powerhouse, delivering unmatched value to its shareholders and customers alike. With its commitment to innovation, operational excellence, and a customer-centric approach, Maroc Telecom continues to set the industry standard, leaving competitors in its wake.