Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 139

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 139
---
 P$74,073 million and P$110,887 million in 2023 and 2022, respectively.

​
​

PART I - ITEM 5 OPERATING AND FINANCIAL REVIEW AND PROSPECTS   TELECOM ARGENTINA S.A.
-------------------------------------------------------------------------------------

Other operating expenses 
Other operating expenses (which include legal claims and contingent liabilities, energy and other public services, insurance, rentals and internet capacity, among others) decreased P$40,196 million to P$206,963 million in 2023 as compared to P$247,159 million in 2022. The decrease is mainly due to lower charges in legal claims and contingent liabilities, rentals and internet capacity, energy and other public services, among others.
The effect generated by the restatement in current currency as of December 31, 2024, included in Other operating expenses amounts to P$158,793 million and P$220,189 million in 2023 and 2022, respectively.
Adjusted EBITDA
An important operational performance measure used by the Company’s Chief Operating Decision Maker (as this term is defined in IFRS Accounting Standards 8) is Adjusted EBITDA. Adjusted EBITDA is defined as our net (loss) income less income tax, financial results, Earnings (losses) from associates and joint ventures, and depreciation, amortization and impairment of Fixed Assets. We believe Adjusted EBITDA facilitates company-to-company operating performance comparisons by backing out potential differences caused by variations such as capital structures, taxation and the useful lives and book depreciation and amortization of PP&E and intangible assets, which may vary for different companies for reasons unrelated to operating performance. Although Adjusted EBITDA is not a measure defined in accordance with IFRS Accounting Standards (a non-GAAP measure), our Management believes that this measure facilitates operating performance comparisons from period to period and provides useful information to investors, financial analysts and the public in their evaluation of our operating performance. Adjusted EBITDA does not have a standardized meaning and, accordingly, our definition of Adjusted EBITDA may not be comparable to Adjusted EBITDA as used by other companies.
The following table shows the reconciliation of Net loss to Adjusted EBITDA:
​

                            ​                               ​    ​         ​        ​      ​          ​        ​   ​      ​      ​      ​           ​     
----------------------------------------------------------------------------------------------------------------------------------------------------------
​                                                           ​   Year ended December 31,                        ​   ​    ​        ​    ​                  ​