Company: TCMFF
Filing Date: 2025-08-12
Form Type: 6-K
Source: 0001104659-25-076939
Chunk: 46

Company: TELECOM ARGENTINA SA
Filing Date: 2025-08-12
Form: 6-K
Chunk 46
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 and $40,253 million in 1H25 and 1H24, respectively.

Depreciation, amortization and impairment of fixed and intangible assets

Depreciation, amortization and impairment of Fixed and intangible assets amounted to$831,126 million
in 1H25, an increase of $54,293 million or 7.0%
compared to 1H24.

Depreciation, amortization
and impairment of Fixed and Intangible Assets for 1H25 contained $196,700 million corresponding to the consolidation of TMA’s results.
Excluding the impact of the consolidation of TMA, the decrease is due to the effect of those assets that ended their useful life after
June 30, 2024, partially offset by the impact of depreciation and amortization of registrations after that date, which, in turn, decreased
compared to last year.

The effect generated by the restatement in constant currency as of June 30, 2025, included in depreciation, amortization and impairment of Fixed and intangible assets amounts to $621,140 million and $682,943
million in 1H25 and 1H24, respectively.

| · | Operating     
 income (loss) |

Operating income amounted to $176,027 million compared to an operating loss of $86,575
million in 1H25 and 1H24, respectively. Representing an increase of $262,602 million as
compared to 1H24. Operating income / (loss) represented 5.2 % and (3.7) % of revenues in
1H25 and 1H24, respectively.

Operating income for 1H25 includes $30,099 million corresponding to the consolidation of TMA´s
results.

| · | Financial    
 results, net |

|                                                             |     1H25 |     |      1H24 |     |  Variation |     |       |
|                                                             |        $ 
  million |     |           |     |          $ 
    million |     |     % |
| Interests on borrowings                                     | -130,919 |     |   -74,063 |     |    -56,856 |     |  76.8 |
| Remeasurement in borrowings                                 |    1,533 |     |  -103,189 |     |    104,722 |     |   n/a |
| Foreign currency exchange gains / (losses