Company: TCMFF
Filing Date: 2025-05-13
Form Type: 6-K
Source: 0001104659-25-047837
Chunk: 35

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-13
Form: 6-K
Chunk 35
---
% in the number of users, which amounted to 3.9 million and 2.5 million in 3M25 and 3M24,
respectively.

Equipment

Equipment revenues amounted to $77,871 million in 3M25 (increase of $27,905 million or 55.8% compared to 3M24). This variation is mainlydue to the
consolidation of TMA as of March 31, 2025, which contributed $15,686 million. Excluding the impact of the consolidation of TMA, the increase
was mainly due to a 64% increase in handsets sold compared to 3M24, due to better macroeconomic conditions during 3M25.

The effect generated by the restatement in current
currency as of March 31, 2025 included in Equipment revenues amounts to $2,015 million and $21,239 million in 3M25 and 3M24, respectively.

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

|                                                   |     |     3M25 |     |     3M24 |     | Variation |     |      |
|                                                   |     |        $ 
  million |     |          |     |         $ 
   million |     |    % |
| Employee                                          
 benefit expenses and severance payments           |     | -286,847 |     | -246,095 |     |   -40,752 |     | 16.6 |
| Interconnection                                   
 and transmission costs                            |     |  -44,275 |     |  -39,120 |     |    -5,155 |     | 13.2 |
| Fees                                              
 for services, maintenance, materials and supplies |     | -172,012 |     | -155,988 |     |   -16,024 |     | 10.3 |
| Taxes                                             
 and fees with the Regulatory Authority            |     | -113,911 |     |  -82,175 |     |   -31,736 |     | 38.6 |
| Commissions                                       
 and advertising                                   |     |  -71,288 |     |  -55,366 |     |   -15,922 |     | 28.8 |
| Cost                                              
 of equipment and handsets                         |     |  -57,005 |     |  -37,200 |