Company: TCMFF
Filing Date: 2025-08-12
Form Type: 6-K
Source: 0001104659-25-076939
Chunk: 48

Company: TELECOM ARGENTINA SA
Filing Date: 2025-08-12
Form: 6-K
Chunk 48
---
8% in 1H24), higher interest on borrowings of $56,856 million due to new
loans taken during 1H25, partially offset by a higher remeasurement in borrowings gain of $104,722 million due to the maturity of ONs
in UVA which reduced the balance of principal owed and, therefore, the associated finance charges.

| · | Income                
 tax benefit (expense) |

Telecom’s income tax includes the following
effects: (i) the current tax payable pursuant to tax legislation applicable to Telecom, and (ii) the effect of applying the deferred
tax method on temporary differences arising out of the Company’s asset and liability valuation according to tax versus financial
accounting criteria, including the income tax inflation effect.

Income tax expense amounted to $34,473 million
in 1H25 compared to $504,015 million in 1H24. It includes the following effects: (i) current tax expenses, Telecom’s generated
$223,343 million tax expense in 1H25 (compared to an expense of $7,721 million in 1H24), (ii) regarding the deferred tax in 1H25, Telecom
recorded a deferred tax benefit of $188,870 million compared to an expense of $496,294 million in 1H24.

Income tax benefit (expense) contains $20,843
million corresponding to the consolidation of TMA’s results as of June 30, 2025.

| · | Net  
 loss |

Telecom recorded net loss of $75,554 million in
1H25 as compared to net income of $1,197,930 million in 1H24 and represented (2.3)% of revenues as compared to 51.5% in 1H24. The decrease
in 1H25 compared to 1H24 was mainly due to a reduction in financial gains of $2,008,028 million, partially offset by an increase in operating
income of $262,602 million and a decrease in income tax expense of $469,542 million.

Net loss attributable to controlling shareholders
amounted to $83,792 million in 1H25 compared to net income of $1,187,416 million in 1H24.

Net income contains a loss of $14,023 million
corresponding to the consolidation of TMA´s results as of June 30, 2025.

| · | Adjusted 
 EBIT