Company: TCMFF
Filing Date: 2025-08-12
Form Type: 6-K
Source: 0001104659-25-076939
Chunk: 45

Company: TELECOM ARGENTINA SA
Filing Date: 2025-08-12
Form: 6-K
Chunk 45
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H25, increasing $33,077
million or 25.4% compared to 1H24. The increase was mainly due to the consolidation of TMA’a
results as of June 30, 2025, which contributed $18,243 million. Excluding the impact of
the consolidation of TMA, the increase corresponds to price increases mainly in Pack Fútbol (in line with the increase in the
number of customers) and to a lesser extent in the rest of the signals.

The effect generated by the restatement in constant currency as of June 30, 2025, included in Programming and content costs amounted to $7,782
million and $52,143 million in 1H25 and 1H24, respectively.

Bad debt expenses

Bad debt expensesamounted to $66,223 million in 1H25, increasing $17,031
million or 34.6% compared to 1H24, representing 2.0
% and 2.1% of the revenues in 1H25 and 1H24, respectively. Bad debt expenses contain $20,924
million corresponding to the consolidation of TMA’s results as of June 30, 2025. Excluding the impact of the consolidation of TMA,
the decrease is mainly due to continuing credit recovery actions.

The effect generated by the restatement in constant currency as of June 30, 2025, included in Bad debt expenses amounted to $2,672
million and $19,495 million in 1H25 and 1H24, respectively.

Other operating expenses, net

Other operating expenses, net (which include legal claims and contingent liabilities, energy and other public services, insurance, rentals and internet capacity, among others)amounted to $177,701 million in 1H25, increasing $70,888
million or 66.4% compared to 1H24. The increase was mainly due to the consolidation of TMA’s
results as of June 30, 2025, which contributed $59,975 million. Excluding the impact of
the consolidation of TMA, the increase was mainly due to higher charges in energy costs and insurance, partially offset by lower charges
in rentals, legal claims, contingent liabilities and travel expenses.

The effect generated by the restatement in constant currency as of June 30, 2025, included in Other operating expenses, net amounted to $27,802
million