Company: TCMFF
Filing Date: 2025-08-12
Form Type: 6-K
Source: 0001104659-25-076939
Chunk: 40

Company: TELECOM ARGENTINA SA
Filing Date: 2025-08-12
Form: 6-K
Chunk 40
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PU of Cable Television Services in Argentina                       |     |  16,297.1 |

Fixed and Data Services

Revenues generated by fixed and data services amounted to $394,652 million in 1H25 (equivalent to 12.5% of total consolidated services revenues),
increasing $86,097 million or 27.9% as compared to 1H24. The effect generated by the restatement in constant currency as of June 30, 2025,
included in fixed and data services revenues amounted to $27,808 million and $119,486 million in 1H25 and 1H24, respectively.

The increase in Argentina offixed and data services revenues in 1H25 was mainly due to the consolidation of TMA’s results as of June 30, 2025, which
contributed $147,177 million. Excluding the impact of the consolidation of TMA, the decrease was mainly because the company has not been
able to increase its prices to the same extent as the increase in inflation, considering an accumulated inflation in the last twelve months
of 39.4% and a decrease in the fixed customer base of 1.0%.

As of June 30, 2025, the fixed telephony customer base totaled 2.7 million, of which 2.0 million were IP customers. This represents a 1.0% decrease
compared to June 30, 2024, mainly driven by changes in customer consumption behavior.

Other services revenues

Other services revenues generated by other services amounted to $30,182 million, increasing $5,448 million or 22.0% compared to 1H24, representing 1.0%
of total service revenues. The effect generated by the restatement in constant currency as of June 30, 2025, included in other services
revenues amounted to $1,648 million and $9,283 million in 1H25 and 1H24, respectively.

These services include mainly revenues related
to fintech services, revenues from billing remuneration and collection management on behalf of third parties, administrative revenues
and revenues from the sale of advertising space, among others.

The variation in other service revenues was primarily
driven by the growth of fintech services in Argentina, mainly due to the increased use of the digital wallet 'Personal Pay' and the expansion
of its user base, which reached 4.2 million as of June 30,