This development is mainly driven by the growth in revenues of Moov Africa subsidiaries as well as that of Fixed Internet activities, which offset the decline in Mobile in Morocco, explains the group in a press release on its consolidated results as of December 31, 2023.
In Morocco, the group’s activities generated, at the end of 2023, a turnover of MAD 19.54 billion, stable over one year, mainly supported by Fixed Data (+7.2%), reports the same source.
Concerning Mobile turnover, it fell by 1.3% compared to the end of 2022, to reach MAD 11.63 billion.
The growth of Fixed and Internet activities continues and generates a turnover of MAD 9.68 billion, up 1.3% compared to 2022, mainly due to the growth in Fixed Data revenues (+ 7.2%).
On the international side, the group’s turnover recorded an increase of 6.6% (+3.4% at constant exchange rate) to stand at more than MAD 18.38 billion at the end of 2023, under the combined effect of growth in Mobile Data (+22.6% at constant exchange rates), Fixed Internet (+11.3% at constant exchange rates) and Mobile Money (+5% at constant exchange rates).
Excluding the drop in call terminations, subsidiary revenues increased by 3.8% at constant exchange rate.
The year 2023 marks for the Maroc Telecom Group the return to growth of its turnover and net profit, indicates the press release, which announces the proposed distribution of 3.7 billion dirhams in dividends, or 4.20 dirhams. per share, representing a yield of 4.7%.
The Group thus finished above its operational and financial objectives for the year thanks to the activity of its subsidiaries in Sub-Saharan Africa which continues to drive the Group’s performance, notes the same source.
Its great ability to control costs and its high level of investment allow it to improve its margins and pursue a sustained level of development.
Building on this dynamic, the Group will maintain the same proactive approach in 2024 which allows it to quickly adapt to changes in its markets and seize opportunities.