Company: TCMFF
Filing Date: 2025-08-11
Form Type: 6-K
Source: 0001104659-25-076236
Chunk: 1

Company: TELECOM ARGENTINA SA
Filing Date: 2025-08-11
Form: 6-K
Chunk 1
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 a consolidated margin of 30.0% (+0.3 p.p. vs 1H24). Telecom’s margin (excluding TMA) was 32.5% (+2.8                
 p.p. vs 1H24).                                                                                                                                   |
| · | During 1H25, the Company recorded a consolidated net loss of P$75,554 million (vs. a profit                                                      
 of P$1,197,930 million in 1H24). This was mainly due to a loss recorded in net financial results (vs. a gain in 1H24), partially offset          
 by stronger operating results and a lower income tax loss.                                                                                       |
| · | Consolidated CAPEX (excluding additions from rights of use) represented 14.3% of consolidated                                                    
 revenues in 1H25.                                                                                                                                |
| · | Consolidated Net Financial Debt totaled P$4,029,971 million as of June 30, 2025, increasing                                                      
 in real terms (+38.2% in constant currency vs. December 31, 2024). This increase was mainly driven by the financing obtained for the acquisition 
 of TMA.                                                                                                                                          |

| (1) | Market capitalization as of August 8, 2025 |

| (2) | Unaudited non-financial information |

| (3) | This refers to the exclusion of the consolidated results from the segment “ICT Services Provided in Argentina – TMA Networks,” 
 as presented in Table 3. The same criterion will apply going forward to any results labeled as “Telecom (excluding TMA).”      |

| TELECOM ARGENTINA | 1 |

* Figures may not add up due to rounding.
** In constant currency – includes additions from rights of use as of June 30, 2025 for P$92,053 million and as of June 30, 2024 for P$127,366 million.
*** Telecom figures include IP telephony lines, which totaled approximately 2.05 million and 1.69 million as of June 30, 2025 and June 30, 2024, respectively. TMA figures include IP telephony lines, which totaled approximately 1.50 million and 1.35 million as of June 30, 2025 and June 30, 2024, respectively.

****ARPUs in constant currency as of June 30, 2025, were calculated by applying the corresponding average inflation index to