Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 128

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 128
---
 mainly due to the fact that the inflation rate for the last twelve months amounted to 211.4% and the Company (and other competitors in the ICT industry) did not transfer the totality of this inflation to its prices.
Services revenues amounted to P$4,150,426 million in 2023, decreasing 10.1% as compared to P$4,615,105 million in 2022 and represented 92.6% of consolidated revenues. Equipment revenues amounted to P$333,546 million in 2023 as compared to P$329,714 million in 2022, and represented 7.4% of consolidated revenues.
The effect generated by the restatement in current currency as of December 31, 2024, increased consolidated revenues by P$3,354,142 million and P$ 4,406,111 million in 2023 and 2022, respectively.
Consolidated revenues for 2023 and 2022 are comprised as follows:
Mobile Services
Mobile services revenues in 2023 amounted to P$1,806,462 million (a decrease of P$181,225 million or 9.1% as compared to 2022), being the principal contributor to our total services revenues for 2023 (43.5% of consolidated services revenues in 2023 as compared to 43.1% in 2022). Mobile internet services revenues represented 92% and 86% of the mobile services revenues as of December 31, 2023 and 2022, respectively.
The effect generated by the restatement in current currency as of December 31, 2024, included in Mobile services revenues amounted to P$1,351,841 million and P$1,770,524 million in 2023 and 2022, respectively.
Mobile services revenues in Argentina amounted to P$1,661,630 million (a decrease of P$156,001 million as compared to 2022). This decrease was mainly due to an 11.0% decrease in the ARPU, partially offset by a 3.8% increase in the number of customers.
Personal’s ARPU amounted to P$6,655.1 as of December 31, 2023 (compared to P$7,477.1 as of December 31, 2022). This decrease was mainly explained by the fact that, as a consequence of the 211.4% inflation in Argentina, the Company (and other