Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 123

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 123
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 in 2024 as compared to P$1,534,060 million in 2023. 
The variation is due to the effect of those assets that ended their useful life after December 31, 2023, partially offset by the impact of the amortization of the capital expenditures subsequent to that same date, which, in turn, decreased compared to last year. 
The effect generated by the restatement in current currency as of December 31, 2024, included in Depreciation, amortization and impairment of Fixed Assets amounted to P$1,085,604 million and P$1,435,764 million in 2024 and 2023, respectively.
Operating loss
In 2024, our consolidated operating loss amounted to P$146,467 million, representing a decrease of P$125,879 million as compared to 2023. Operating loss represented (3.5)% and (6.1)% of consolidated revenues in 2024 and 2023, respectively.

                            ​                               ​         ​           ​           ​        ​        ​     
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​                                                                            Year ended December 31,       % of Change
​                                                           2024               2023                        2024-2022  
​                                                           ​              ​   ​                   ​   ​   Increase/  
​                                                           ​                       (P$ million / %)   ​   (Decrease) 
Adjusted EBITDA (1)                                         ​      1,164,877               1,261,714       (7.7)      
As % of revenues                                            ​           28.2   28.1                        ​          
Depreciation, amortization and impairment of Fixed Assets   ​    (1,311,344)             (1,534,060)       (14.5)     
As % of revenues                                            ​         (31.7)                  (34.2)       ​          
Operating loss                                              ​      (146,467)               (272,346)       (46.2)     
As % of revenues                                            ​          (3.5)   ​               (6.1)   ​   ​          

(1)   Adjusted EBITDA is a non-GAAP measure, defined as our net (loss) income less income tax, financial results (Financial results from borrowings and other financial results, net), earnings (losses) from associates and joint ventures, and depreciation, amortization and impairment of Fixed Assets. For further information on the