Company: TCMFF
Filing Date: 2025-11-12
Form Type: 6-K
Source: 0001104659-25-110392
Chunk: 45

Company: TELECOM ARGENTINA SA
Filing Date: 2025-11-12
Form: 6-K
Chunk 45
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 n/a |
| (Losses) per share for income                               
 attributable to the Controlling Company - Basic and diluted |     -93.03 |    -10.01 |           |       |
| Adjusted EBITDA (1)                                         |    649,126 |   351,981 |   297,145 |  84.4 |

| (1) | Adjusted EBITDA is a non-GAAP                                                                                                              
 measure, defined as our net income, less income tax, financial results (Financial results from borrowings and other financial results,     
 net), losses from associates and joint ventures, and depreciation, amortization and impairment of Fixed and intangible assets. For further 
 information on the use of adjusted EBITDA, see “Adjusted EBITDA”.                                                                          |

It should be noted that the Company's results of
operations for the three-month period ended September 30, 2025 reflect the results generated by TMA and, accordingly, are not comparable
to our results of operations for the three-month period ended September 30, 2024, when TMA had not yet been acquired.

Revenues in 3Q25 amounted to $2,065,211 million
and operating costs (without depreciation, amortization and impairment of fixed and intangible assets) amounted to $1,416,085 million,
therefore, adjusted EBITDA amounted to $649,126 million (equivalent to 31.4% of consolidated revenue in 3Q25 compared to 27.2% in 3Q24).
Depreciation, amortization and impairment of fixed and intangible assets amounted to $483,338 million (equivalent to 23.4% of consolidated
revenues) and operating loss amounted to $165,788 million (equivalent to 8.0% of consolidated revenue in 3Q25 compared to (3.7) % in 3Q24).

Services revenues amounted to $1,977,671 million
in 3Q25 -equivalent to 95.8% of consolidated revenues, and equipment revenues amounted to $87,540 million in 3Q25 –equivalent to
4.2% of consolidated revenues.

Mobile services revenues amounted to $1,035,232
million in 3Q25 –equivalent to 52.3% of consolidated services revenues– which were mainly generated by customers in Argentina.

Internet services revenues amounted to $446,089
million in 3Q