Maroc Telecom: First Quarter 2026 Review

Maroc Telecom reported mixed results for the first quarter of 2026. The group's consolidated revenue reached 9,327 million dirhams, representing a 5.0% increase. This rise was driven by 8.5% growth in its Moov Africa subsidiaries and slight stability in Morocco (+0.7%).

The group's EBITDA reached approximately 5 billion dirhams, marking a 6.1% increase, with a stable margin of 50.0%. However, the Group's Net Income decreased by 3.4% to 1.3 billion dirhams, primarily due to the social solidarity contribution.

Capital expenditures (CAPEX), focused on broadband, increased by 50.5% to 1.3 billion dirhams, while fixed cash flow (CFFO) rose by 13.8% to 2.3 billion dirhams. The group is maintaining its investments to meet the growing demand for digital infrastructure and services.