Casablanca – Maroc Telecom, a leading telecommunications group, has announced positive financial results for the first quarter ending March 2024, with a consolidated revenue (CA) reaching approximately $940 million. This figure reflects a 1.2% increase compared to the same period last year.

The growth in revenue was mainly driven by robust international performance, which saw revenues rising by 3.8% at constant exchange rates. This increase helped offset a slight decline of 1.3% in domestic revenues within Morocco. Maroc Telecom attributed the decline in domestic revenues to reduced mobile revenue, although fixed internet revenue saw a compensatory increase of 7.6%, primarily due to the success of fiber optic services (FTTH).

Despite facing a competitive market environment, Maroc Telecom demonstrated positive operational and financial performance during Q1 2024. The company highlighted achievements in its Moov Africa subsidiaries, expansion of high-speed fixed broadband services, and ongoing efforts to optimize costs, contributing to its resilient performance amidst competition.

Internationally, Maroc Telecom’s revenues amounted to approximately $475 million in Q1 2024, showcasing notable growth in mobile and fixed data services. Excluding the impact of decreased call terminations, subsidiary revenues increased by 4.4% at constant exchange rates.

Maroc Telecom emphasized its commitment to an ambitious investment strategy aimed at leveraging network quality and enhancing service excellence. Despite challenges, the company remains optimistic about future growth prospects and is dedicated to enhancing its offerings and market position.

These positive financial results underscore Maroc Telecom’s ability to navigate competitive landscapes and deliver growth, driven by strategic investments and a focus on quality services. The company’s resilient performance in Q1 2024 reflects its continued efforts to adapt and innovate in the telecommunications sector.