MAROC_TELECOM_REGISTRATION_DOCUMENT_2017

FINANCIAL REPORT

Statutory financial statements

SHAREHOLDERS’EQUITY AND LIABILITIES

Net

(in MAD thousand)

2017

2016

2015

SHAREHOLDERS’EQUITY (A)

15,363,637 5,274,572

15,254,928 5,274,572

14,653,526 5,274,572

Share capitalb (a)

Less: capital subscribed and not paid-in

0 0 0 0

0 0 0 0

0 0 0 0

Paid-in capital

Additional paid-in capital Revaluation difference

Statutory reserve Other reserves

879,095

879,095

879,095

3,510,509

2,909,976

2,561,953

0 0

0 0

0 0

Retained earningsb (b) Unallocated incomeb (b) Net income of thebyearb (b) QUASI-EQUITY (B) Investment subsidies Regulated provisions DEBENTURE BONDS (C)

4

5,699,461

6,191,285

5,937,906

0 0 0

0 0 0

0 0 0

3,867,811

4,866,688

6,007,025

Debenture bonds

0

0

0

Other long-term debt

3,867,811

4,866,688

6,007,025

PROVISIONS (D)

70,477 53,895 16,582 36,248 36,248

70,658 52,964 17,694 60,174

56,604 37,789 18,814 32,730

Provisions for contingencies

Provisions for losses

UNREALIZED FOREIGN EXCHANGE GAINS (E)

Increase in long-term receivables Decrease in long-term debt

0

0

0

60,174

32,730

TOTAL I (A+B+C+D+E) CURRENT LIABILITIES (F)

19,338,173 14,508,512

20,252,447 13,244,286

20,749,885 13,254,067

Accounts payable and related accounts

8,428,399

7,772,383

7,954,035

Trade receivables, advances and down payments

115,726

96,756

28,964 816,065 96,177

Payroll costs

1,117,965

1,012,981

Social security contributions

116,790

97,086

Tax payable

2,567,667

2,534,463

2,603,442

Shareholders’current accounts

1

1

1

Other payables

783,018

432,468

435,593

Accruals

1,378,946 1,185,365

1,298,148 1,436,913

1,319,790 897,696

OTHER PROVISIONS FOR CONTINGENCIES AND LOSSES (G) UNREALIZED FOREIGN EXCHANGE GAINS (CURRENT ITEMS) (H)

70,061

53,949

47,440

TOTAL II (F+G+H) BANK OVERDRAFTS

15,763,938

14,735,149

14,199,204

7,401,285

6,996,069

6,655,852

Discounted bills Treasury loans

0 0

0 0

0 0

Bank loans and overdrafts

7,401,285 7,401,285 42,503,396

6,996,069 6,996,069 41,983,665

6,655,852 6,655,852 41,604,941

TOTAL III

GRAND TOTAL I+II+III (1) Personal capital debtor (-). (2) Beneficiary (+), deficit (-).

169

MAROC TELECOM ____ 2017 Registration Document