Company: TCMFF
Filing Date: 2025-05-19
Form Type: 6-K
Source: 0001104659-25-050264
Chunk: 20

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-19
Form: 6-K
Chunk 20
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 of fixed revenues,
only revenues from fixed telephony (voice), internet, and Movistar TV are considered.

The table below shows the
income by type of service:

|                                                                                                                            |     | Year ended December 31, |    2024 |     |     |    2023 |
|:---------------------------------------------------------------------------------------------------------------------------|:----|:------------------------|--------:|:----|:----|--------:|
|                                                                                                                            |     | -P$ millions            |         |     |     |         |
| Total fixed revenues                                                                                                       |     |                         | 743,330 |     |     | 754,151 |
| Internet                                                                                                                   |     |                         | 312,097 |     |     | 277,667 |
| Voice                                                                                                                      |     |                         | 120,497 |     |     | 183,332 |
| Movistar TV                                                                                                                |     |                         |  56,296 |     |     |  55,009 |
| Components of service revenues not included in the ARPU calculation (Data, interconnection, wholesale services and Others) |     |                         | 254,440 |     |     | 238,143 |

The effect generated by the restatement in current currency as of December 31, 2024, included in Fixed services revenues amounted
to P$134,064 million and P$566,739 million in 2024 and 2023, respectively.

Internet

Internet revenues in 2024
amounted to P$312,097 million, an increase of P$34,430 million or 12.4% as compared to 2023. The effect generated by the restatement in
current currency as of December 31, 2024, included in internet services revenues amounted to P$498,766 million and P$207,193 million
in 2024 and 2023, respectively.

The increase in internet
services revenues in 2024 was mainly due to the increase in the customer base. The increase in customer base was mainly driven by TMA’s
efforts on the FTTH network and customer retention.

ARPU of internet services
reached P$17,724.5 in 2024 as compared to P$17,432.2 in 2023. This increase in ARPU is mainly explained by the fact that TMA granted less
discounts to customers on these services and charged higher entry offer prices. The effect generated by the restatement in current