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Maroc Telecom announces turnover of MAD 36.7 bln in 2020

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Maroc Telecom Group posted a turnover of nearly MAD 36.77 billion at the end of December 2020, up 0.7% (-0.8% on a comparable basis) compared to the same period a year earlier.

«The increase in the turnover of the Moov Africa and Fixed Broadband subsidiaries in Morocco offset the slowdown in Mobile activities in Morocco, strongly impacted by the competitive environment», said Maroc Telecom in a statement on its consolidated results for 2020, published on Friday.

In the fourth quarter of 2020 alone, and despite the decline in mobile call terminations in Morocco in December 2020, the Group's turnover increased by 0.7% (+0.4% on a comparable basis) to reach MAD 9.27 billion, according to the same source, explaining this improvement in particular by the sustained increase in the activities of the Moov Africa and Fixed Broadband subsidiaries in Morocco.

The Group's activities in Morocco generated revenues of MAD 20.88 billion, down 3.7% compared to 2019, affected in particular by the repercussions of the Covid-19 pandemic on Mobile activities and offset by the solid momentum of Fixed-line and Internet activities, the statement pointed out.

The Group's international activities posted revenues of MAD 16.88 billion, up 1.4% on a comparable basis, explained by the recovery of post-lockdown activities and the growth of Mobile Data and Mobile Money services.

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