Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 127

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 127
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 million), and an increase in income tax benefit of P$556,868 million, which were partially offset by an increase in financial results of P$1,424,164 million and a decrease in consolidated revenues of P$460,847 million.
In 2023, Adjusted EBITDA totaled P$1,261,714 million, representing 28.1% of consolidated revenues. The decrease in 2023 compared to 2022 was mainly due to a decrease in consolidated revenues of P$460,847 million, partially offset by the decrease in operating cost (without depreciation, amortization and impairment of Fixed Assets) of P$363,720 million.
Revenues

            ​               ​        ​        ​         ​       ​     ​       ​          ​     
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​                                                  Year ended                                  
​                           ​                    December 31,   ​        ​   ​                ​
​                           2023             2022                                  Total Change
​                                                 (P$million)   ​        %   ​      (P$million)
Mobile Services                  1,806,462          1,987,687        (9.1)            (181,225)
Internet Services                  979,727          1,096,812       (10.7)            (117,085)
Cable Television Services          791,281            887,702       (10.9)             (96,421)
Fixed and Data Services            531,363            603,693       (12.0)             (72,330)
Other services revenues             41,593             39,211   6.1                       2,382
Services Revenues                4,150,426          4,615,105       (10.1)            (464,679)
Equipment revenues                 333,546            329,714   1.2                       3,832
Revenues                         4,483,972          4,944,819        (9.3)            (460,847)
​

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PART I - ITEM 5 OPERATING AND FINANCIAL REVIEW AND PROSPECTS   TELECOM ARGENTINA S.A.
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During 2023, total consolidated revenues decreased by 9.3% amounting to P$4,483,972 million as compared to P$4,944,819 million in 2022.
Despite the greater demand for services, consolidated revenues decreased