MAROC_TELECOM_REGISTRATION_DOCUMENT_2017

4

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

Borrowing (in MAD million)

Company Moov CDI Moov Bénin Moov Bénin Moov Togo Moov Togo Moov Togo Moov Togo Moov Togo Moov Niger Moov Niger Moov Niger Moov Niger Moov Niger Moov Niger Moov Niger Moov Niger Moov Niger Moov Niger Moov Niger Moov RCA Moov RCA Moov RCA Moov RCA

Currency

Maturity Dec. 31, 2017 Dec. 31, 2016 Dec. 31, 2015

Banques, découvert Moov CDI

FCFA FCFA

- -

237 136

Loan BABE

63

96

Loan CAA pour construction câble ACE

FCFA

23

21 39

Loan ECOBANK

FCFA November-17 FCFA December-21 FCFA December-21

76

BANQUE ATLANTIQUE TOGO BANQUE ATLANTIQUE TOGO

187

97 26

ECOBANK TOGO 2 Banks, overdrafts Togo Loan ECOBANK AT Niger

FCFA FCFA

-

101 111

22

10 59 25

FCFA March-18 USD December-16

201

Loan ERICSSON Loan Moov CDI

FCFA FCFA FCFA FCFA FCFA

- -

5

Banks, overdrafts Niger

68

144

148

Mauritel overdraft Ecobank overdraft CBAO overdraft

104

35 15 13 24 42 85

Loan CBAO 1 Loan CBAO 2 Loan CBAO 3

FCFA October-17 FCFA November-17 FCFA September-20 FCFA December-17

CMT BAN

Loan Ecobank

FCFA

-

53

3

BANQUE POPULAIRE MAROCO

FCFA September-22 USD January-20

49

Loan DPA ERICSSON Banks, overdrafts RCA Loan Banque Atlantique

2 4

5 4

5

FCFA FCFA FCFA FCFA

- - - -

37

Prestige Prestige

0

Caution (FDFP, Laborex, Reuter, GESTOCI)

0

Moov Gabon

Bank UBA

60

TOTAL BORROWING AND OTHER FINANCIAL

15,090

14,775

15,648

NOTE 16 — TRADE ACCOUNTS PAYABLE

(in MAD million)

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Trade payables and related accounts

16,265

15,247

13,732

Accruals

2,370 6,992

2,107 7,272

2,223 6,872

Other payables

TOTAL

25,627

24,626

22,827

Trade payables and related accounts include amounts due for the acquisition of fixed assets and trade receivables – advances and deposits on orders in progress.

In 2017, operating debt rose by MAD 1,001 million, of which MAD 1,018 million reflects an increase in trade payables and related accounts, versus 2016. “Other operating debts” mainly reflects tax owed (excluding corporation tax) in the amount of MAD 4,432 million.

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MAROC TELECOM ____ 2017 Registration Document