Strong Financial Performance in H1 2026
Morocco Telecom Group has reported a remarkable revenue increase of **5.4%** for the first half of 2026, driven by a robust **7.5%** rise in revenue from its Moov Africa subsidiaries and a solid **2.2%** growth in its activities within Morocco. This upward trajectory underscores the company’s strategic positioning and operational effectiveness in a competitive telecommunications landscape.
In the Moroccan market, mobile data revenues soared by an impressive **20%**, while fixed data revenues also experienced a substantial growth of **12%**. This growth can be attributed primarily to a significant **30%** expansion in the Fiber to the Home (FTTH) subscriber base, reflecting the increasing demand for high-speed internet connectivity.
The Group's EBITDA saw a commendable increase of **5.1%**, maintaining a healthy margin of **50.2%**. Net income attributable to the Group reached **2.5 billion dirhams**. Excluding the one-off exceptional revenue recorded in the first half of 2025, the Group’s net performance has improved by **8.1%**, indicating a sustainable growth trajectory.
Morocco Telecom has continued its investment strategy, with capital expenditures accounting for **17.6%** of its revenue in the first half. These investments have primarily focused on enhancing both mobile and fixed ultra-high-speed infrastructures, responding to the accelerated demand for data services and the emergence of new growth drivers in the sector.
The first half of 2026 also witnessed ongoing deployment of shared infrastructures resulting from partnerships established within Morocco, alongside a ramp-up in investments in subsidiaries, particularly within the ultra-high-speed and mobile money segments. The operational cash flow increased by **3.9%**, enabling the Group to finance its investments while maintaining a solid financial structure.
Outlook for 2026 Remains Positive
Morocco Telecom has reaffirmed its outlook for 2026, projecting stable growth in revenue and EBITDA at constant perimeter and exchange rates, despite the challenging backdrop of geopolitical tensions that may impact cost volatility and energy supply in certain markets. The Group anticipates that investments, excluding frequencies and licenses, will represent approximately **25%** of its revenues for the year.
As reported by boursenews.ma.
