MAROC_TELECOM_REGISTRATION_DOCUMENT_2017

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FINANCIAL REPORT Statutory financial statements

ASSETS

Net

Amortization and provisions

(in MAD thousand)

Gross

2017

2016

2015

CAPITALIZED COSTS (A)

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

Start-up costs Deferred costs

Bond redemption premiums INTANGIBLE ASSETS (B) Research and development costs Patents, trademarks, and similar rights

11,990,431

9,518,046 2,472,385 2,501,845 2,851,000

0

0

0

0

0

11,489,661

9,453,742 2,035,919 2,171,240 2,408,475

Goodwill

70,717 430,052

64,304

6,414

10,722 319,882

13,761 428,764

Other intangible assets

0

430,052

PROPERTY, PLANT, AND EQUIPMENT (C)

67,390,536 48,022,551 19,367,986 18,629,831 18,226,274

Land

954,671 7,296,310

0

954,671

953,601

950,351

Buildings

4,594,425 2,701,885 2,684,928 2,711,854

Technical plant, machinery, and equipment

51,323,298 39,052,890 12,270,408 12,130,825 11,577,716

Vehicles

46,578

38,033

8,545

73,420 581,644 11,048

79,387 663,008 11,048

Office equipment, furniture, and fittings Other property, plant, and equipment

4,612,920

4,091,062

521,858 11,048

11,048

0

Work in progress

3,145,711 12,553,701 3,074,386

246,141 2,899,570 2,194,365 2,232,910 167,149 12,386,552 12,382,829 12,983,705 0 3,074,386 2,996,776 3,926,026

FINANCIAL ASSETS (D)

Long-term loans

Other financial receivables

3,382

0

3,382

3,382

3,558

Equity investments

9,475,932

167,149 9,308,784 9,382,670 9,054,121

Other investments and securities UNREALISED FOREIGN EXCHANGE LOSSES (E)

53,895

0 0 0

53,895

52,964 52,964

37,789 37,789

Decrease in long-term receivables

52

52

Increase in long-term debt TOTAL I (A+B+C+D+E)

53,843

53,843

0

0

91,988,563 57,707,745 34,280,818 33,567,470 34,098,769

INVENTORIES (F)

363,692 231,769 131,923

160,841 111,005 49,836

202,852 120,764 82,088

217,755 145,367 72,388

202,121 155,306 46,815

Merchandise

Raw materials and supplies

Work in progress

0 0 0

0 0 0

0 0 0

0 0 0

0 0 0

Intermediary and residual goods

Finished goods

CURRENT RECEIVABLES (G)

14,844,341

7,513,074 7,331,267 6,983,083 6,129,446

Trade payables, advances and deposits Accounts receivable and related accounts

13,564

0

13,564

25,576

41,545

13,197,065

7,352,058 5,845,006 5,502,874 5,222,536

Employees Tax receivable

3,793

0 0 0 0 0 0 0 0 0 0 0

3,793

2,906

2,651

595,320

595,320

459,520

595,865

Shareholders’current accounts

0

0

0

0

Other receivables

799,640 234,959 128,759 61,708

161,015

638,625 234,959 128,759 61,708

923,384 68,824 126,633 114,726

217,958 48,891 123,659 93,844

Accruals

MARKETABLE SECURITIES (H)

UNREALIZED FOREIGN EXCHANGE LOSSES (I)

(current items) TOTAL II (F+G+H+I)

15,398,501 7,673,914 7,724,586 7,442,198 6,549,070

CASH AND CASH EQUIVALENTS

497,991

497,991

973,998

957,102 10,500 943,495

Checks

0

0

4,123

Bank deposits

495,067

495,067

966,649

Petty cash TOTAL III

2,924

2,924

3,226

3,108

497,991

497,991 973,998 957,102

GRAND TOTAL I+II+III

107,885,055 65,381,659 42,503,396 41,983,665 41,604,941

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MAROC TELECOM ____ 2017 Registration Document