Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 113

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 113
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 granted greater discounts to customers in order to maintain the customer base, considering the intense competition.
Núcleo’s customer amounted to 2.6 million and 2.3 million as of December 31, 2024, and 2023, respectively. Out of the total mobile customers as of December 31, 2023, 73% were prepaid customers and 27% were postpaid customers, whereas as of December 31, 2023, 76% were prepaid customers, and 24% were postpaid customers. Additionally, the average churn rate per month amounted to 2.7% and 2.9% in 2024 and 2023, respectively.
Internet Services
Internet services revenues amounted to P$1,057,015 million in 2024 (equivalent to 27.2% of total consolidated services revenues), increasing P$77,288 million or 7.9% as compared to P$979,727 million in 2023. The effect generated by the restatement in current currency as of December 31, 2024, included in internet services revenues amounted to P$182,506 million and P$730,225 million in 2024 and 2023, respectively.
The increase in internet services revenues in 2024 was mainly due to the increase in the Broadband Internet access ARPU of 8.1%.
The ARPU reached P$20,418.6 in 2024 as compared to P$18,883.6 in 2023. This increase in ARPU is mainly explained by the fact we granted less discounts to customers in these services. The effect generated by the restatement in current currency as of December 31, 2024, included in ARPU amounted to P$3,492.4 and P$14,058.2 as of December 31, 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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The customer base remained stable, which was a product of the Company’s efforts to maintain the customer base, considering the intense competition. Additionally, the churn rate per month amounted to 1.8% in 2024 and 2023.
ARPU of Internet Services in Argentina
A monthly operational measure used in the internet services is ARPU, which we calculate by dividing adjusted total service revenues - excluding connection and rehabilitation