Maroc Telecom achieves results above its objectives

On the occasion of the publication of this announcement, Mr. Abdeslam Ahizoune, CEO, said:

"The good results achieved in 2012 confirm the strategic choices of Morocco Telecom group with the development of its activities in sub-Saharan Africa and reward committed significant investments to modernize and expand its affiliates. In Morocco, the return to sustained growth of the economy and the significant growth of voice usage and data related to sharp price declines and enrichment offerings will no doubt have a positive impact on the group. Efforts to control costs remain a priority to further enhance the Group's profitability, one of the best in the industry in the world. "
 

 Maroc Telecoms customer base grew from  13.5% to 33 million customers, subsiduaries achieved very strong and profitable growth with a  turnover up 18% at  a constant exchange gain of 6.2 pts EBITDA margin at 46.4%.

 There was strong growth of 8.5% of operating cash flow (CFFO), excluding restructuring, well above the stated objectives ("CFFO stable"), to 12.6 billion dirhams, or 76% of EBITDA and a conversion rate increase of 7.2 pts.

 Successful voluntary redundancy plans were implemented of  1, 404 employees involved in Morocco and 117 employees in subsidiaries in Mali and Mauritania.

Proposed distribution of earnings of  100% in 2012, 7.4 dirhams per share, representing a yield of 7.0% ..