Company: TCMFF
Filing Date: 2025-11-12
Form Type: 6-K
Source: 0001104659-25-110392
Chunk: 46

Company: TELECOM ARGENTINA SA
Filing Date: 2025-11-12
Form: 6-K
Chunk 46
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25 –equivalent to 22.6% of consolidated services revenues.

Cable television services revenues amounted to
$221,680 million in 3Q25 –equivalent to 11.2% of consolidated service revenues– and they are mainly composed of services revenues
provided in Argentina and Uruguay.

Finally, Fixed and data services revenues amounted
to $258,358 million in 3Q25 –equivalent to 13.1% of consolidated service revenues.

Operating costs without depreciation, amortization
and impairment of fixed and intangible assets amounted to $1,416,085 million in 3Q25, being the main components, employee benefit expenses
and severance payments (amounted to $507,333 million); fees for services, maintenance, materials and supplies (amounted to $264,101 million);
taxes and fees with the Regulatory Authority (amounted to $178,621 million); commissions and advertising (amounted to $103,915 million)
and Programming and content costs (amounted to $93,759 million).

Financial results, net amounted to $456,983 million
in 3Q25, mainly due to net foreign exchange gains, measured in real terms, amounting to $321,918 million, interests on borrowings amounting
to $120,826 million, other financial results amounting to $67,275 million, partially offset by and the net gain on restatement in constant
currency amounting to $29,418 million and the gain value on financial assets at fair value through profit or loss of $22,547 million.

The income tax benefit for 3Q25 was $100,939 million
and the Company obtained a net loss of $192,481 million for that period (representing (9.3)% of revenues). Net loss attributable to controlling
company amounted to $200,363 million in 3Q25.

The following table shows the reconciliation of Net income to Adjusted
EBITDA:

|                                                        |      3Q25 |     3Q24 | Variation |       |
|                                                        | $ million |          | $ million |     % |
| Net income (loss)                                      |  -192,481 |  -15,210 |  -177,271 |   n/a |
| Income tax expense (Benefit)                           |  -100,939 |   22,042 |  -122,981 |   n/a |
| Other financial results, net                           |    12,150