MAROC_TELECOM_REGISTRATION_DOCUMENT_2017
FINANCIAL REPORT
Overview
APPENDIX 1 CHANGE FROM ADJUSTED FINANCIAL INDICATORS TO PUBLISHED FINANCIAL INDICATORS Adjusted earnings from operations, Group share of adjusted net income, and adjusted cash flow from operations, are not strictly accounting measures and should be considered as additional information. They are a better indicator of the Group’s performance as they exclude non- recurring items.
FY 2017
FY 2016
(in MAD million) Adjusted EBITA
Morocco International
Group
Morocco International
Group
6,954
3,599
10,553
7,157
3,268
10,426
NON-RECURRING ITEMS: Real estate sales
+297
+297 -255
Restructuring costs PUBLISHED EBITA
-193
-49
-243
-255
6,760
3,550
10,310 5,871
6,902
3,565
10,468 5,622
4
Group share of adjusted net income
NON-RECURRING ITEMS: Real estate sales
+152 -176
Restructuring costs
-165
PUBLISHED NET EARNINGS – GROUPbSHARE
5,706
5,598
Adjusted CFFO
7,319
3,700
11,019
7,124
3,563
10,686
NON-RECURRING ITEMS: Real estate sales
+317
+317
Restructuring costs License payments PUBLISHED CFFO
-579
-41
-620 -639
-61
-578
-33
-33
6,679
3,081
9,761
7,124
3,847
10,970
115
MAROC TELECOM ____ 2017 Registration Document
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