MAROC_TELECOM_REGISTRATION_DOCUMENT_2017

4

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

8.2

CHANGE IN DEFERRED TAXES

2017

Impact on shareholders’ equity

Change in scope of consolidation Reclassifications

Charge to profit or loss

Translation adjustment

(in MAD million)

2016

2017

Assets

276 266

8 6 2

2

-26 -28

14

273 244

Liabilities

-1

1

NET POSITION

10

3

0

2

13

29

Deferred tax assets are almost stable compared to 2016. Deferred tax liabilities declined by MAD 22 million in comparison to 2016, due to the reduction in the dividend tax.

2016

Impact on shareholders’ equity

Change in scope of consolidation Reclassifications

Charge to profit or loss

Translation adjustment

(in MAD million)

2015 429 282 148

2016

Assets

-159

6

6 1 5

-6

276 266

Liabilities

-13

-4

0

NET POSITION

-146

10

0

-6

10

2015

Impact on shareholders’ equity

Change in scope of consolidation Reclassifications

Charge to profit or loss

Translation adjustment

(in MAD million)

2014

2015 429 282 148

Assets

104 203 -99

91

0 0 0

237

-2

0

Liabilities

-42

18

103

NET POSITION

133

219

-105

0

COMPONENTS OF DEFERRED TAXES

(in MAD million)

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Impairment deductible in later period

55

55

56

Restatement (IFRS) of revenues

-27

-38 109 -116

-40 234 -102 148

Deferred losses

62

Other

-61 29

NET POSITION

10

NOTE 9 — INVENTORIES

(in MAD million)

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Inventories

500 -204 296

545 -221 324

579 -204 375

Impairment (-)

NET TOTAL

144

MAROC TELECOM ____ 2017 Registration Document