CONSOLIDATED RESULTS FOR THE FIRST NINE MONTHS OF 2012
Results in line with targets:
- Morocco
- continued strong growth in customer bases for postpaid mobile (+22%), 3G internet (+57%), and ADSL (+18%),
- very strong growth in outgoing mobile voice usage (+39%),
- efficient control of OPEX, down 1.6% excluding the rise of universal-service contribution,
- success of the voluntary redundancy plan, with 1,330 employees involved so far.
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- International business
- strong growth in customer bases (+43%), revenues (+17%), and earnings from operations (+42%)
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- Consolidated results
- revenues declined by 3.0%, to MAD 22.5 billion,
- high EBITDA margin, up 0.2 pt to 55.6%,
- EBITA margin before restructuring at a high level of 39.5%,
- cash flow from operations before restructuring charges rose by 1.0%, to MAD 8.3 billion.
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Outlook for 2012 confirmed (excluding restructuring)
- operating margin (EBITA) of more than 38%
- cash flow from operations (CFFO) stable, at MAD 11.5 billion
