Company: TCMFF
Filing Date: 2025-05-13
Form Type: 6-K
Source: 0001104659-25-047837
Chunk: 27

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-13
Form: 6-K
Chunk 27
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           |            |       |
| Controlling Company                                                                                            |    89,060 | 1,048,255 |   -959,195 |   n/a |
| Non-controlling interest                                                                                       |     4,142 |     4,322 |       -180 |  -4.2 |
|                                                                                                                |    93,202 | 1,052,577 |   -959,375 | -91.1 |
| Earnings per share for income attributable to the Controlling Company - Basic and diluted (in Argentine pesos) |     41.35 |    486.73 |            |       |
| Adjusted EBITDA(1)                                                                                             |   451,948 |   322,984 |    128,964 |  39.9 |

| (1) | Adjusted EBITDA is a non-GAAP                                                                                                             
 measure, defined as our net income, less income tax, financial results (Financial results from borrowings and other financial results,    
 net), earnings (losses) from associates and joint ventures, and depreciation, amortization and impairment of Fixed and intangible assets. 
 For further information on the use of adjusted EBITDA, see “Adjusted EBITDA”.                                                             |

In 3M25, net income amounted to $93,202 million (compared to a net income of $1,052,577 million in 3M24), representing 6.8% of revenues (compared to 98.7% of revenues in 3M24). The decrease in 3M25 compared to 3M24 was mainly due to a decrease in financial result net of $1,323,252 million which was partially offset by an increase in operating income of $152,670 million, and a decrease in income tax expense of $208,996 million.

In 3M25, Adjusted EBITDA totaled $451,948 million,
representing 33.1% of revenues. Adjusted EBITDA in 3M24 totaled $322,984 million, representing 30.3% of revenues. The increase of $128,964
million in 3M25 compared to 3M24 was mainly due to an increase in revenues of $296,923 million, partially offset by an increase in operating
costs (without depreciation, amortization and impairment of Fixed and intangible assets) of $167,959 million.

| · | Revenues |

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