In 2025, the Maroc Telecom group recorded a consolidated revenue of 36.7 billion dirhams (approximately $3.67 billion), an increase of 1.4% at constant exchange rates compared to 2024. This performance is mainly driven by the sustained growth of international activities (+5.3%), led by subsidiaries Moov Africa, combined with the resilience of the domestic market.
Specifically, as of December 2025, the group’s total customer base stands at nearly 77 million, up 3.6% year-on-year. This growth is mainly attributable to Moov Africa subsidiaries (+5.1%), while the customer base in Morocco remains stable at around 22 million subscribers.
EBITDA stands at 18.49 billion dirhams ($1.85 billion), down 2.4%, impacted by the decline in Morocco (-6.6%), partially offset by the performance of subsidiaries (+3.4%). EBITA amounts to 13.55 billion dirhams ($1.35 billion). Excluding exceptional items related to the dispute with Wana, adjusted EBITA stands at 11.55 billion dirhams ($1.15 billion), down 3.5%.
Net profit attributable to the group reaches 6.97 billion dirhams ($697 million). Adjusted for exceptional items, it amounts to 5.65 billion dirhams ($565 million), down 4.3%.
Investments represent 25.6% of revenue, supported by the launch of 5G in Morocco. Operating cash flows decline by 11% to 8.02 billion dirhams ($802 million), mainly due to the payment for the 5G license. Net debt is equivalent to 0.9 times EBITDA.
The board will propose a dividend of 4 dirhams per share ($0.40), totaling 3.5 billion dirhams ($350 million).
