Itissalat Al Maghrib IAM S A : Maroc Telecom - Presentation FY2022 results 21/02/2023

2022

ANNUAL RESULTS PRESENTATION

Tuesday February 21, 2023

1 HIGHLIGHTS

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HIGHLIGHTS	BUSINESS	FINANCIAL	OUTLOOK	APPENDICES
	REVIEW	REVIEW

2022 KEY FIGURES

1

INCREASE IN GROUP	SLIGHT DECREASE IN	GROUP ADJUSTED EBITDA
CUSTOMER BASE	GROUP REVENUES	MARGIN REMAINS HIGH
+1.6%	-0.5%(1)	51.8%

SUSTAINED GROWTH	CONTINUED REVENUES GROWTH
IN FIXED DATA REVENUES
IN THE MOOV AFRICA SUBSIDIARIES
IN MOROCCO
+6.7 %	+1.3 %(2)

(1) At constant exchange rates

(2) +2.3% excluding the reduction in call termination rates and at constant exchange rates

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OVERVIEW

Customer base growth

74.2 +1.6% 75.4

		52.5	+3.8%
50.6

23.6	22.9 -3.0%
	(million)
2021	2022

Continued increase in the Group's

customer base driven by growth in the

subsidiaries' customer bases

HIGHLIGHTS	BUSINESS	FINANCIAL	OUTLOOK	APPENDICES
	REVIEW	REVIEW

Slight decline in consolidated revenues

35.8 -0.5%(1) 35.7

16.9

17.2

+1.3%(2)

International
19.9	19.5	-1.8%
Morocco
		(MAD bn )
2021	2022

Continued growth in the activities of the

Moov Africa subsidiaries, largely offsetting

the decline in revenues in Morocco

1. At constant exchange rates
2. +2.3% excluding the reduction in call termination rates and at constant exchange rates

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HIGHLIGHTS	BUSINESS	FINANCIAL	OUTLOOK	APPENDICES
	REVIEW	REVIEW

REGULATORY HIGHLIGHTS

In Morocco

• Continuation of asymmetrical regulation that favors competitors, particularly on call termination and the economic space for retail offers.

In the subsidiaries

• Reduction in Mobile termination rates in Mauritania, Côte d'Ivoire, Gabon, Chad, Togo and Niger;
• More stringent customer identification requirements, and coverage and service quality controls;
• High levels of sector contributions and fees.

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