Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 142

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 142
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The Company’s income tax charge includes the following effects: (i) the current tax payable for the year pursuant to tax legislation applicable to each of Telecom Argentina and its subsidiaries; (ii) the effect of applying the deferred tax method on temporary differences arising out of the asset and liability valuation according to tax versus financial accounting criteria and; (iii) the effects of the income tax inflation adjustment.
Income tax amounted to a gain of P$736,601 million in 2023 as compared to a gain of P$179,733 million in 2022. It includes mainly the following effects: (i) regarding current tax expenses, Telecom’s generated tax loss in fiscal year 2023 amounting to P$6,313 million and tax gain in fiscal year 2022 amounting to P$118,816 million, and (ii) regarding the deferred tax, in 2023 Telecom recorded a deferred tax gain of P$742,914 million compared to a deferred tax gain of P$60,917 million in 2022.
For more information on income tax, see Notes 3 and 15 to our Consolidated Financial Statements.
Net loss
Telecom Argentina recorded a net loss of P$543,727 million in 2023 as compared to a net loss of P$1,394,512 million for 2022 and represents (12.1)% of consolidated revenues as compared to (28.2)% in 2022. The loss was mainly due to the operating loss amounting to P$272,346 million and financial result, net of P$1,381,290 million, partially offset by the income tax benefit amounting to P$736,601 million.
Net loss attributable to controlling shareholders amounted to P$561,242 million in 2023 as compared to a net loss of P$1,409,383 million in 2022.
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PART I - ITEM 5 OPERATING AND FINANCIAL REVIEW AND PROSPECTS   TELECOM ARGENTINA S.A.
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Liquidity and Capital Resources
Sources and Uses of Funds
We expect the main sources of Telecom Argentina’s liquidity in the short term to be cash flows from Telecom Argentina’s operations and cash flows from financing from third parties, which may include accessing to domestic and international capital markets and obtaining financing from financial institutions. Telecom Argentina’s principal uses of cash flows are expected to be capital expenditures, operating expenses, dividend payments to its shareholders, payments of borrowings and for general corporate purposes