MAROC_TELECOM_REGISTRATION_DOCUMENT_2017
FINANCIAL REPORT
Consolidated financial statements at 31 December 2015, 2016 and 2017
NET CASH USED IN FINANCING ACTIVITIES This flowmainly reflects dividends paid to shareholders amounting to MAD -6,519 million and debt service payments amounting to MAD -3,338 million. Cash inflows during the period were mainly loans
from banks amounting to MAD 1,873 million and overdraft lines of credit amounting toMAD718million earmarked for funding ongoing operations.
NOTE 13 — DIVIDENDS
13.1 DIVIDENDS
(in MAD million)
2017
2016
2015
Dividends paid by subsidiaries to their noncontrolling interests TOTALb(A) Dividends paid by Maroc Telecom to its shareholders – Kingdom of Morocco – Société de Participation dans les Télécommunications (SPT)
4
918
1,118
1,089
1,677 2,963
1,677 2,963
1,820 3,215 1,031 6,065 7,154
– Other
950
949
TOTALb(B)
5,591 6,509
5,590 6,708
TOTAL DIVIDENDS PAIDb(A)+(B)
13.2 DIVIDEND PROPOSED FOR 2017 Dividends paid by Maroc Telecom to its shareholders remained steady relative to 2016.
Dividends paid by subsidiaries to non-controlling shareholders fell by 17% versus 2016, which has been marked by exceptional distributions.
NOTE 14 — PROVISIONS
Provisions for contingencies and losses are analyzed as follows: 2017
(in MAD million)
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Noncurrent provisions Provisions for life annuities
570
470
535
17
18
19
Provisions for termination benefits Provisions for disputes with third parties
428
400
381
94 32
28 23
29
Other provisions Current provisions
106 834 131
838
1,208
Provisions for voluntary redundancy plan Provisions for employee-related expenses Provisions for disputes with third parties
0 0
386
0
0
834
822
365 338
Other provisions
4
0
TOTAL
1,408
1,679
1,369
147
MAROC TELECOM ____ 2017 Registration Document
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