Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 109

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 109
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3,333
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Adjusted EBITDA(1)                                                                    ​     1,164,877   ​        1,261,714   ​    (7.7)    ​          (96,837)

(1)   Adjusted EBITDA is a non-GAAP measure, defined as our net (loss) income less income tax, financial results (Financial results from borrowings and other financial results, net), earnings (losses) from associates and joint ventures, and depreciation, amortization and impairment of Fixed Assets. For further information on the use of Adjusted EBITDA, see “Item 5— Operating and Financial Review and Prospects—Adjusted EBITDA”.
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In 2024, net income amounted to P$1,033,252 million, representing 25% of consolidated revenues. The increase in net income in 2024 compared to 2023 was mainly due to an increase in positive financial results of P$2,604,218 million, partially offset by an increase in income tax loss of P$1,145,755 million.
In 2024, Adjusted EBITDA totaled P$1,164,877 million, representing 28.2% of consolidated revenues. The decrease in 2024 compared to 2023 was mainly due to a decrease in consolidated revenues of P$346,376 million, partially offset by the decrease in operating cost (without depreciation, amortization and impairment of Fixed Assets) of P$249,539 million.

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PART I - ITEM 5 OPERATING AND FINANCIAL REVIEW AND PROSPECTS   TELECOM ARGENTINA S.A.
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Revenues
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​                                                 Year ended                                    
​                           ​                   December 31,   ​         ​   ​                 ​
​                           ​        2024   2023               ​                    Total Change
​                                               (P$ million)   ​         %   ​      (P$ million)
Mobile Services             ​   1,679,334          1,806,462         (7.0)             (127,128)
Internet Services           ​   1,057,015            979,727   7.9                        77,288
Cable Television Services   ​     600,