MAROC_TELECOM_REGISTRATION_DOCUMENT_2017
FINANCIAL REPORT
Consolidated financial statements at 31 December 2015, 2016 and 2017
Gross inventories on 31b Decemberb 2017, mainly comprised inventories in Morocco (MAD 387 million), including: – MAD 161 million in Mobile handsets; – MAD 103 million in consumable materials and supplies (includingbMAD 80 million in SIM cards);
– MAD 83 million in multimedia handsets; – MAD 40 million in Fixed-line handsets. Changes in inventories are recognized in cost of purchases. Inventory impairment is recorded under “Amortization, depreciation and charges to provisions».
NOTE 10 — TRADE ACCOUNTS RECEIVABLE AND OTHER
(in MAD million)
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Trade receivables and related accounts
8,527 2,798
8,929 3,072
8,851 2,341
Other receivables and accruals
4
NET TOTAL
11,325
12,001
11,192
10.1 TRADE RECEIVABLES AND RELATED ACCOUNTS
(in MAD million)
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Trade receivables
14,554 1,611 -7,638 8,527
14,776 1,507 -7,354 8,929
14,536 1,682 -7,367 8,851
Gouvernment receivables
Depreciation of trade receivables (-)
NET TOTAL
Net trade receivables fell by 4.5% versus 2016, including a MAD 118million drop in gross receivables. Provisioning therefore increased by 2.1%.
10.2 OTHER RECEIVABLES AND ACCRUALS
(in MAD million)
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Trade receivables, advances, and deposits
169
240
123
Employee receivables
82
87
89
Tax receivables Other receivables
1,193
1,687
1,369
985 369
774 283
463 298
Accruals
NET TOTAL
2,798
3,072
2,341
The item “Tax receivables” mainly refers to VAT and corporation income tax receivables.
In 2017, net tax receivables amounted to MAD 1,193 million (vs.bMAD 1,687 million in 2016), down 29.2%. This variation comes partly from lower tax charges at the level of certain international
subsidiaries. Onbthe other hand, the decrease is also explained by the compensation receivable taxes of VAT.
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MAROC TELECOM ____ 2017 Registration Document
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