Company: TCMFF
Filing Date: 2025-11-12
Form Type: 6-K
Source: 0001104659-25-110392
Chunk: 37

Company: TELECOM ARGENTINA SA
Filing Date: 2025-11-12
Form: 6-K
Chunk 37
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574 million corresponding to the consolidation of TMA’s results.

| • | Net  
 loss |

Telecom recorded net loss of $272,543 million in 9M25 as compared to net income of $1,254,213 million in 9M24 and represented (4.8)% of revenues as compared to 33.4% in 9M24. The decrease in 9M25 compared to 9M24 was mainly due to a reduction in financial gains of $2,646,478 million, partially offset by an increase in operating income of $492,466 million and a decrease in income tax expense of $620,546 million.

Net loss attributable to controlling shareholders amounted to $289,156 million in 9M25 compared to net income of $1,236,724 million in 9M24.

Net income contains an income of $1,711 million corresponding to the consolidation of TMA´s results.

| • | Adjusted 
 EBITDA   |

An important operational performance measure used by the Company’s Chief Operating Decision Maker (as this term is defined in IFRS Accounting Standard 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 and intangible 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 property, plant and equipment (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. 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 income to Adjusted EBITDA:

|                                                            |      9M25 |       9M24 |  Variation |       |
|                                                            | $ million |            |          $ 
    million |     % |
| Net                                                        
 income (loss) for the period