Company: TCMFF
Filing Date: 2025-05-19
Form Type: 6-K
Source: 0001104659-25-050264
Chunk: 29

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-19
Form: 6-K
Chunk 29
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 | (301,247 | ) |     |      | (612,461 | ) |     |              | (50.8 | ) |     |              |  311,214 |   |
| Net financial income             |     |              |   58,813 |   |     |      |  170,508 |   |     |              | (65.5 | ) |     |              | (111,695 | ) |

Financial income decreased P$111,695 million to
P$58,813 million in 2024 as compared to P$170,508 million in 2023. The main causes for this decrease were: (i) lower exchange rate
gain charges by P$ 325,851 million, (ii) a decrease in financial income by P$139,698 million, and (iii) an increase in financial
expenses by P$65,336 million, partially offset by (i) a P$311,214 million decrease in losses from exchange rate differences, and
(ii) a P$107,976 million increase in RECPAM charges.

Income tax

The income tax as of December 31,
2024, was a benefit of P$502,912 million, which compared to the expense from the previous year represents a variation of P$509,494 million,
primarily generated by the effect of the impairment loss on deferred tax.

For more information on income
tax, see Note 16 to the TMA Financial Statements.

Net loss

TMA recorded a net loss of P$960,239 million in 2024 as compared to a net loss of P$268,665 million for 2023. The increasein net loss
was primarily due to impairment losses on assets (net of income tax P$ 889,046 million) based on IAS 36 analysis.

Cash Flow

The
table below summarizes TMA’s cash flows for the years ended December 31, 2024 and 2023:

|                                                                  |     | Year ended December 31, |     2024 |   |     |     |     2023 |   |
|:-----------------------------------------------------------------|:----|:------------------------|---------:|:--|:----|:----|---------:|:--|
|                                                                  |     | -P$ millions            |          |   |     |     |          |   |
| Net cash flows from operating activities                         |     |                         |  381,329 |