A difficult start to the year
Maroc Telecom recorded a decrease by 2.7% in Q1 2017’s revenues at MAD8.517bn, affected by, both, the decline in activities in Morocco and abroad (vs. 3.4% expected by our model). Indeed, the operations in the Kingdom generated Q1 2017 revenues of MAD5.0124bn, down by 2.6%, yoy, as a result of lower revenues from the Mobile (-3.6%) and Fixed (-1.2%) activities in rather unfavourable regulatory and competition contexts. Indeed, the Mobile activity was impacted by the re-establishment of a 20% asymmetry on mobile call termination rates as from the beginning of March 2017, and the incoming international revenue decrease was partially offset by the good performance of the Mobile Data services, with revenues up by 58%, yoy.
AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.