Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 120

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 120
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,622 million in 2024 as compared to P$344,478 million in 2023. The decrease was mainly due to the decrease in sales in 2024. Taxes and fees with the Regulatory Authority represent a 7.9% and 7.7% of total revenues in 2024 and 2023, respectively.
The effect generated by the restatement in current currency as of December 31, 2024, included in Taxes and fees with the Regulatory Authority amounted to P$56,172 million and P$257,919 million in 2024 and 2023, respectively.
Commissions and advertising
Commissions and advertising decreased P$30,401 million or 11.6%, amounting to P$232,226 million in 2024, as compared to P$262,627 million in 2023. The decrease is mainly due to lower charges for agent commissions and collection commissions partially offset by advertising costs related to Flow and Personal Play campaigns.
The effect generated by the restatement in current currency as of December 31, 2024, included in Commissions and advertising amounted to P$38,506 million and P$197,408 million in 2024 and 2023, respectively.
Cost of equipment
Cost of equipment decreased P$44,838 million or 18.5%, amounting to P$197,049 million in 2024 as compared to P$241,887 million in 2023. The variation is mainly due to a decrease in handsets sold of 14%.
The effect generated by the restatement in current currency as of December 31, 2024, included in Cost of equipment amounted to P$59,933 million and P$190,343 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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Programming and content costs
Programming and content costs decreased by P$13,964 million or 5.5%, amounting to P$239,016 million in 2024 as compared to P$252,980 million in 2023. The decrease was mainly due to commercial efficiency, partially offset by price increases in almost all cable television signals.
The effect generated by the restatement in current currency as of December 31, 2024, included in Programming and content costs amounted to P$41,024 million and P$189,131