Company: TCMFF
Filing Date: 2025-08-11
Form Type: 6-K
Source: 0001104659-25-076236
Chunk: 11

Company: TELECOM ARGENTINA SA
Filing Date: 2025-08-11
Form: 6-K
Chunk 11
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 criteria which includes the effect 
 of the income tax inflation adjustment.                                                                                                |

Consolidatedincome tax resulted in a loss of P$34,473 million in 1H25 (vs. a loss of P$504,015 million in 1H24). Current income tax losses amounted to P$223,343 million in 1H25 (vs. a loss of P$7,721 million in 1H24), while the effect of deferred income tax in 1H25 was a gain of P$188,870 million (vs. a loss of P$496,294 million in 1H24). Consolidated Net Financial Debt As of June 30, 2025, our net financial debt (cash, cash equivalents – net of Client Funds - plus financial investments and financial NDF* minus loans) is negative and amounted to P$4,029,971 million, which represents an increase of P$1,113,767 when compared to the net financial debt as of December 31, 2024, restated by inflation. This increase was mainly driven by the financing obtained for the acquisition of TMA. * Contemplates rate swaps and NDF (non-delivery forwards) agreements. Investments in PP&E, intangible assets and rights of use assets As of June 30, 2025, consolidatedCAPEX (additions of PP&E and intangible assets) totaled P$481,189 million (+53.7% vs. 1H24). Including additions from rights of use, total investments amounted to P$573,242 million, of which P$132,492 million correspond to TMA. The investments were focused on:

| · | Expansion                                                                                                                                  
 of both fixed and mobile data services to improve transmission and access speed offered to customers, the deployment of 4G coverage and    
 capacity, and continued expansion of 5G to support mobile internet growth and enhance service quality.                                     |
| · | Deployment and modernization of 4G mobile access sites to improve coverage and                                                             
 increase mobile network capacity. The 4G/LTE rollout reached 98% population coverage. According to the latest benchmark conducted by Ookla 
 in June 2025, our mobile network customers with access to our 4G network experienced improved service quality, reaching average speeds     
 of 86 Mbps, compared to 55 Mbps in the same period in 2024.                                                                                |
| · | During the first months of 2025, we continued expanding our 5G