Maroc Telecom: Financial results for the third quarter of 2025

Maroc Telecom announced a 1.8% increase in its customer base, reaching more than 81 million. Consolidated revenues increased by 1.2%, reaching 27 billion dirhams, mainly due to the growth of the Moov Africa subsidiaries (+5.7%). EBITDA remained at nearly 14 billion dirhams with a margin of 50.2%, despite tax and regulatory challenges.

The Group's investments increased sharply by 36%, representing 23% of revenues, to prepare for the arrival of 5G in Morocco. Net income, group share (NIPG) amounted to 5.5 billion dirhams. Cash flow from operations (CFFO) was 6.5 billion dirhams.

In Morocco, revenue fell 3.3% to MAD 13.9 billion over the nine months, impacted by strong competition and a restrictive regulatory framework. Internationally, subsidiary revenues increased 5.7%, driven by growth in Mobile Money and Very High Speed Broadband.