Maroc Telecom made 19bn dirhams ($2.1bn) in revenue in the first six months of 2026, up 5.4% from a year earlier. Growth came mainly from its Moov Africa subsidiaries, while the business in Morocco grew at a slower pace.
Revenue from Moov Africa rose 7.5%. The Moroccan business recorded a 2.2% increase.
Profit told a different story.
Net profit fell 39.7% to 2.48bn dirhams, down from more than 4.1bn dirhams a year earlier. EBITA also dropped 27.3%.
The lower profit was mainly due to a one-off payment booked in the first half of 2025 under an agreement with Wana Corporate. Without that exceptional item, net profit would have increased by 8.1%.
The Moroccan market showed mixed results.
Mobile data revenue jumped 20%, while fixed data revenue rose 12%. The company’s fibre-to-the-home (FTTH) customer base grew by 30%.
At the same time, the number of mobile subscribers fell 2.2% compared with the same period last year.
Maroc Telecom also increased spending on its network. Capital expenditure reached 3.4bn dirhams, up 7.3% year-on-year, equal to 17.6% of first-half revenue. Investment in Morocco rose 28.9%.
The company kept its outlook unchanged for 2026. It still expects revenue and EBITDA to grow this year despite geopolitical tensions and volatile costs in some African markets.
