Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 136

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 136
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3)        ​        36,876
Cost of equipment                                                                           ​   ​        (241,887)          ​        (234,227)       ​       3.3        ​       (7,660)
Programming and content costs                                                               ​   ​        (252,980)          ​        (310,185)       ​    (18.4)        ​        57,205
Bad debt expenses                                                                           ​   ​         (97,236)          ​        (124,382)       ​    (21.8)        ​        27,146
Other operating expenses                                                                    ​   ​        (206,963)          ​        (247,159)       ​    (16.3)        ​        40,196
Total operating costs (without depreciation, amortization and impairment of Fixed Assets)   ​   ​      (3,222,258)          ​      (3,585,978)   ​   ​    (10.1)        ​       363,720
​
Total operating costs (without depreciation, amortization and impairment of Fixed Assets) decreased P$363,720 million in 2023, amounting to P$3,222,258 million, representing a 10.1% decrease as compared to 2022.
Despite being in a context in which year-on-year inflation was 211.4%, the Company has managed to make its operating costs more efficient and achieve a reduction.
The effect generated by the restatement in current currency as of December 31, 2024, included in Operating costs (without depreciation, amortization and impairment of Fixed Assets) amounted to P$2,420,777 million and P$3,196,035 million in 2023 and 2022, respectively.
Employee benefit expenses and severance payments
Employee benefit expenses and severance payments decreased P$118,394 million to P$1,120,311 million in 2023 as compared to P$1,238,705 million in 2022. The decrease was mainly due to lower severance payments and a reduction in headcount of 2.1%, amounting to 21,262 employees as of December 31, 2023, and, partially offset by increases in salaries agreed by the Company with several trade unions for unionized employees, and for non-unionized employees, together with related social security charges.
The effect generated by the restatement in current currency as of December 31,