Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 118

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 118
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)       (10.5)                13,860
Fees for services, maintenance, materials and supplies                                      ​     (550,457)            (563,391)        (2.3)                12,934
Taxes and fees with the Regulatory Authority                                                ​     (325,622)            (344,478)        (5.5)                18,856
Commissions and advertising                                                                 ​     (232,226)            (262,627)       (11.6)                30,401
Cost of equipment                                                                           ​     (197,049)            (241,887)       (18.5)                44,838
Programming and content costs                                                               ​     (239,016)            (252,980)        (5.5)                13,964
Bad debt expenses                                                                           ​      (85,217)             (97,236)       (12.4)                12,019
Other operating expenses                                                                    ​     (200,852)            (206,963)        (3.0)                 6,111
Total operating costs (without depreciation, amortization and impairment of Fixed Assets)   ​   (2,972,719)          (3,222,258)        (7.7)               249,539
​
Total operating costs (without depreciation, amortization and impairment of Fixed Assets) decreased P$249,539 million or 7.7% in 2024, amounting to P$2,972,719 million, as compared to 2023.
Despite being in a context in which year-on-year inflation was 117.8%, the Company has managed to make its operating costs more efficient and achieve a reduction.
The effect generated by the restatement in current currency as of December 31, 2024, included in operating costs (without depreciation, amortization and impairment of Fixed Assets) amounted to P$573,197 million and P$2,420,777 million in 2024 and 2023, respectively.
Employee benefit expenses and severance payments
Employee benefit expenses and severance payments decreased P$96,556 million to P$1,023,755 million in 2024 as compared to P$1,120,311 million in 2023. The decrease was mainly due to a reduction in headcount of 6.0%, amounting to 19,987 employees as of December 31, 2024,