Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 268

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 18
Chunk 268
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 of December 31,    
​                                                                  ​    2022                 ​   2023                 ​   2024                  
​                                                                  ​    ​                    ​   ​                    ​   ​                    ​
National Consumer Price Index (National CPI) (December 2016=100)   ​    1,134.6              ​   3,533.2              ​   7,694.0              ​
​                                                                  ​    ​                    ​   ​                    ​   ​                    ​
Variation in Prices                                                                              ​                        ​                    ​
Annual                                                             94.8                      %   211.4                %   117.8                %
​                                                                  ​    ​                    ​   ​                    ​   ​                    ​
Banco Nación US$/$ exchange rate                                   ​    177.2                ​   808.4                ​   1,032.0              ​
​                                                                  ​    ​                    ​   ​                    ​   ​                    ​
Variation in the exchange rate                                     ​    ​                    ​   ​                    ​   ​                    ​
Annual                                                             ​    72.5                 %   356.3                %   27.7                 %
​
Below is a summary of the effect of applying IAS 29:
​
Restatement of the Statement of Financial Position and the Statement of Changes in Equity
​
The Company restated all the non-monetary items in current currency as of December 31, 2024. Each item must be restated since the date of the initial recognition or since the last revaluation. Monetary items have not been restated because they are stated in terms of the measuring unit current as of December 31, 2024.
Restatement of the Income Statement, the Statements of Comprehensive Income and the Statement of Cash Flows
In the Income Statement and the Statements of Comprehensive Income, items are restated in current currency as of December 31, 2024. The Company shall apply the monthly variations of CPI. 
Financial results related to foreign currency exchange and accrued interest are determined in real terms, excluding the inflationary effect contained therein.

F-

TELECOM ARGENTINA S.A.

The effect of inflation on the monetary position is included in the Income Statement under Financial cost and Other financial results, net.
The items of the Statement of Cash Flows are restated in current currency at the closing date. The restatement effect has an impact on the Income Statement and must be eliminated from the