Maroc Telecom 1Q Ebitda -5.7%, Keeps Fiscal Year Outlook
May 06 2011 - 1:47AM
Dow Jones News
Maroc Telecom (IAM.CL) Friday posted a 5.7% drop in earnings
before interest, tax, depreciation and amortization, or Ebitda, for
the first quarter, mainly due to slow revenue growth in
Morocco.
MAIN FACTS:
- 1Q consolidated Ebitda amounted to MAD4.04 billion, down 5.7%
from a year earlier, or 5.5% on a comparable basis.
- 1Q revenue grew 1.2% to MAD7.5 billion.
- The group's customer base stood at 26.2 million at March 31,
up 17% from a year earlier. This expansion reflects continuing
growth in the Mobile customer base in Morocco (+6.9%) and strong
marketing momentum in the subsidiaries, where the Mobile customer
base grew by 56%.
- Consolidated earnings from operations were down 7.2% from a
year earlier, or down 7.0% on a comparable basis, to MAD2.97
billion.
- Consolidated operating margin remained at a high level
(39.5%), despite ongoing major investments in networks and
systems.
- 2011 outlook is unchanged: moderate growth in revenue and
profitability to be maintained at a high level.
- "Despite the rise in competition, Maroc Telecom group
continues to increase its revenues, protect its leader position,
and maintain high margins through significant investments for
quality, innovation, and customer satisfaction. The company primary
objective is to satisfy its customers, who, in exchange, remain
extremely loyal," Abdeslam Ahizoune, Chairman of the management
board said.
- By Paris Bureau, Dow Jones Newswires; +331-4017-1740;
geraldine.amiel@dowjones.com