MAROC_TELECOM_REGISTRATION_DOCUMENT_2017

4

FINANCIAL REPORT Consolidated financial statements at 31 December 2015, 2016 and 2017

2017

Change in scope of consolidation Reclassification

Acquisitions and dotations

Disposals and withdrawals

Translation adjustment

Assets held for sale

(in MAD million)

2016

2017

Gross Land

95,532

6,851

-164

1,540

0 0

-432

0 103,303

1,584 8,300

16

31 53

0 0

1,631 8,650

Buildings

297

0

0

Technical plant, machinery andbequipment Transportation, equipment

79,402

6,164

-10

1,364

0

-386

86,534

616

36

-113

13

0

-2

549

Office equipment furniture andbfittings Other property, plant, andbequipment

5,303

200

-40

61

0

80

5,604

327

115

0

17

0

-122

336

Depreciation and impairment

-65,551

-5,595

380

-1,050

0

604

-71,213

Land

-12

-13

0

-24

Buildings

-5,441

-287

1

-48

0

-5,774

Technical plant, machinery, andbequipment Transportation equipment

-54,951

-4,974

291

-931

0

643

-59,922

-467

-42

48

-12

0

16

-457

Office equipment, furniture, andbfittings Other property, plant, andbequipment

0

-56

-4,892

-4,557

-265

39

-53

-123

-14

0

-7

-144

NET TOTAL

29,981

1,256

216

489

0

148

0 32,090

Acquisitions of property, plant and equipment (PP&E) amounting to MAD 6,851 million reflect investment in network infrastructure in 2017, as follows: – MAD 3,517 million in Morocco due for the modernization of Mobile, Fixed-line and Internet infrastructure;

– MAD 2,647 million investments in international network infrastructure. In 2017, allocations to depreciation of tangible fixed assets (PP&E) were up 8.6%, corresponding to investments in Morocco and internationally.

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MAROC TELECOM ____ 2017 Registration Document