Company: TCMFF
Filing Date: 2025-08-12
Form Type: 6-K
Source: 0001104659-25-076939
Chunk: 41

Company: TELECOM ARGENTINA SA
Filing Date: 2025-08-12
Form: 6-K
Chunk 41
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2025, compared to 2.9 million as of June 30, 2024 — representing a 40.7%
increase.

Equipment

Equipment revenues amounted to $196,018 million in 1H25 (an increase of $64,426 million or 49.0% compared to 1H24). This variation is mainlydue to
the consolidation of TMA’s results as of June 30, 2025, which contributed $72,266 million. Excluding the impact of the consolidation
of TMA, the decrease was mainly due to the fact that the Company was unable to increase its prices during 1H25 to the same extent as the
increase in inflation, despite the increase in the number of handsets sold.

The effect generated by the restatement in constant currency as of June 30, 2025, included in Equipment revenues amounts to $8,443 million and $49,100
million in 1H25 and 1H24, respectively.

| · | Operating costs (without depreciation, amortization 
 and impairment of Fixed and intangible assets)      |

|                                                        |     |       1H25 |       1H24 | Variation |      |
|                                                        |     |  $ million |            | $ million |    % |
| Employee benefit expenses and severance payments       |     |   -803,339 |   -549,934 |  -253,405 | 46.1 |
| Interconnection and transmission costs                 |     |    -94,450 |    -74,385 |   -20,065 | 27.0 |
| Fees for services, maintenance, materials and supplies |     |   -425,083 |   -319,234 |  -105,849 | 33.2 |
| Taxes and fees with the Regulatory Authority           |     |   -289,138 |   -180,302 |  -108,836 | 60.4 |
| Commissions and advertising                            |     |   -182,714 |   -120,828 |   -61,886 | 51.2 |
| Cost of equipment and handsets                         |     |   -147,926 |   -102,958 |   -44,968 | 43.7 |
| Programming and content costs                          |     |   -163,277 |   -130,200 |   -33,077 | 25.4 |
| Bad debt expenses                                      |     |