Company: TCMFF
Filing Date: 2025-11-12
Form Type: 6-K
Source: 0001104659-25-110392
Chunk: 34

Company: TELECOM ARGENTINA SA
Filing Date: 2025-11-12
Form: 6-K
Chunk 34
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 in advertising costs related to Flow campaigns (such as Flow Music, Flow Content, Flow Sports, among others) compared to 9M24.

The effect generated by the restatement in constant currency as of September 30, 2025, included in Commissions and advertising amounted to $20,794 million and $73,734 million in 9M25 and 9M24, respectively.

Cost of equipment

Cost of equipment amounted to $224,740 million in 9M25, increasing $51,120 million or 29.4 % compared to 9M24.

The increase was mainly due to the consolidation of TMA’s results, which contributed $89,655 million.

Excluding the impact of the consolidation of TMA, the decrease is explained by the fact that, although the number of mobile devices sold increased compared to 9M24, their costs did not increase in line with the accumulated inflation of 31.8% over the past twelve months.

The effect generated by the restatement in constant currency as of September 30, 2025, included in Cost of equipment amounted to $32,835 million and $84,956 million in 9M25 and 9M24, respectively.

Programming and content costs

Programming and content costs amounted to $266,780 million in 9M25, representing an increase of $53,788 million or 25.3% compared to 9M24.

This increase was mainly due to the consolidation of TMA’s results, which contributed $34,252 million. Excluding the impact of the consolidation of TMA, the increase is mainly attributable to the growth in premium channel services, primarily in the Football Pack.

The effect generated by the restatement in constant currency as of September 30, 2025, included in Programming and content costs amounted to $19,353 million and $77,364 million in 9M25 and 9M24, respectively.

Bad debt expenses

Bad debt expenses amounted to $97,299 million in 9M25, increasing $19,964 million or 25.8% compared to 9M24, representing 1.7 % and 2.1% of the revenues in 9M25 and 9M24, respectively.

Bad debt expenses contain $38,926 million corresponding to the consolidation of TMA’s results, which represent a 2.2% of the revenues consolidated from TMA.

Excluding the impact of the consolidation of TMA,