Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 104

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 104
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 may have a material adverse effect on our results of operations. See “Item 3—Key Information—Risk Factors—Risks Relating to Argentina— Devaluation of the Argentine Peso and foreign exchange restrictions may adversely affect our results of operations, our capital expenditures and our ability to service our liabilities and pay dividends”.
The following tables show, for the periods indicated, certain information regarding the exchange rates for U.S. dollars, expressed in nominal Pesos per dollar (ask price published by Banco de la Nación Argentina). See “Item 10—Additional Information—Foreign Investment and Exchange Controls in Argentina”.

                    ​                       ​     ​       ​      ​     ​         ​    
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​                                               Average(1)           End of Period    
Year Ended December 31, 2022                ​   ​       130.87   ​   ​          177.16
Year Ended December 31, 2023                    ​       295.29       ​          808.45
Year Ended December 31, 2024                    ​       916.17       ​        1,032.00
February 2025 (through February 24, 2025)       ​       —            ​        1,061.00

(1)   Yearly data reflect average of month-end rates.
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Source: Banco de la Nación Argentina
Internal Growth
A monthly operational measure used in our services is ARPU, which we calculate by dividing adjusted total service revenues by the average number of customers during the period. ARPU is not a measure calculated in accordance with IFRS Accounting Standards and our measure of ARPU may not be calculated in the same manner as similarly titled measures used by other companies. Certain components of service revenues are excluded from ARPU calculations presented in this Annual Report. Management believes this measure is helpful in assessing the development of the customer base of our services.

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PART I - ITEM 5 OPERATING AND FINANCIAL REVIEW AND PROSPECTS   TELECOM ARGENTINA S.A.
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The following table shows certain information regarding calculation of ARPU as of the dates specified:

                              ​                                  ​       ​       ​       ​       ​       ​    
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​                                                                2024                     2023   2022         
Number of fixed telephony services lines (millions) (1)          ​         2.7    ​        3.2   ​         3.2
Number IP fixed telephony services lines