Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 117

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 117
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 revenues
Other services revenues generated by other services amounted to $46,369 million in 2024, increasing $4,776 million or 11.5% compared to 2023. The effect generated by the restatement in current currency as of December 31, 2024, included in other services revenues amounted to $7,380 million and $30,724 million in 2024 and 2023, respectively.

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PART I - ITEM 5 OPERATING AND FINANCIAL REVIEW AND PROSPECTS   TELECOM ARGENTINA S.A.
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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 increase in other services revenue in 2024 was mainly due to the increase in Fintech Services in Argentina, principally due to the growth in the use of the “Personal Pay” digital wallet and the increase in the number of users, which amounted to 3.6 million and 2.0 million in 2024 and 2023, respectively.
Equipment
Equipment revenues amounted to P$253,538 million in 2024 (representing 6.1% of our total consolidated revenues) decreasing P$80,008 million or 24.0% as compared to 2023. 
The effect generated by the restatement in current currency as of December 31, 2024, included in equipment revenues amounted to P$41,189 million and P$249,705 million in 2024 and 2023, respectively.
The decrease was mainly due to a lower number of handsets sold compared to 2023 (14%).
Operating costs (without depreciation, amortization and impairment of Fixed Assets)

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​                                                                                                                     Year ended                                   
​                                                                                           ​                       December 31,   ​        ​   ​                 ​
​                                                                                           ​          2024   2023                 ​                   Total Change
​                                                                                                                   (P$ million)   ​        %   ​      (P$ million)
Employee benefit expenses and severance payments                                            ​   (1,023,755)          (1,120,311)        (8.6)                96,556
Interconnection and transmission costs                                                      ​     (118,525)            (132,385