Maroc Telecom announced consolidated earnings results for the year ended December 31, 2017. For the year, the company reported revenues of MAD 34,963 million against MAD 35,252 million a year ago. Earnings from operations were MAD 10,310 million against MAD 10,468 million a year ago. Income from continuing operations was MAD 10,278 million against MAD 10,421 million a year ago. Net earnings were MAD 6,579 million against MAD 6,628 million a year ago. Net earnings attributable to equity holders of the parent were MAD 5,706 million or MAD 6.49 per basic and diluted share against MAD 5,598 million or MAD 6.37 per basic and diluted share a year ago. Net cash flows from operating activities were MAD 14,911 million against MAD 13,483 million a year ago. Purchase of property, plant and equipment and intangible assets were MAD 8,370 million against MAD 6,251 million a year ago. Adjusted EBITA was MAD 10,553 million against MAD 10,426 million a year ago. Adjusted CFFO was MAD 11,019 million against MAD 10,686 million a year ago. Net debt was MAD 13 billion. CAPEX was MAD 8,232 million against MAD 7,983 million a year ago. EBITDA was MAD 17,160 million against MAD 16,909 million a year ago.

For the year 2018, the company expects stable revenues; stable EBITDA; and CAPEX of approximately 23% of revenues, excluding frequencies and licenses.