Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 132

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 132
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.1% compared to 2022. As of December 31, 2023, these customers represented 85% of our total customer base, whereas as of December 31, 2022, they represented 79%.
ARPU of Internet Services in Argentina
A monthly operational measure used in the internet services is ARPU, which we calculate by dividing adjusted total service revenues - excluding connection and rehabilitation fees revenues and others - (divided by 12 months) by the average number of customers during the period. ARPU is not a measure calculated in accordance with IFRS Accounting Standards and our measure of ARPU may not be calculated in the same manner as similarly titled measures used by other companies. Certain components of service revenues are excluded from Internet’s ARPU calculations presented in this Annual Report. Management believes this measure is helpful in assessing the development of the subscriber base of Internet services. The following table shows the reconciliation of total service revenues to such revenues included in the ARPU calculations of 2023 and 2022:
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                                 ​                                    ​        ​             ​        ​         ​             ​     
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​                                                                     ​   Year ended December 31,          Year ended December 31,  
​                                                                     ​   2023                        2022                          
​                                                                         (P$million)                                               
Total Internet service revenues                                       ​   ​             926,525            ​             1,048,874  
Components of service revenues not included in the ARPU calculation   ​   ​             —             ​    ​             —          
Adjusted total service revenues included in the ARPU calculation      ​   ​             926,525       ​    ​             1,048,874  
Average number of customers during the year (millions)                ​   ​             4.1           ​    ​             4.2        
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Cable Television Services
Cable television service revenues amounted to P$791,281 million in 2023 (equivalent to 19.1% of total consolidated services revenues), decreasing P$96,421 million or 10.9% as compared to revenues in 2022. The effect generated by the restatement in current currency as of December 31, 2024, included in cable television services revenues amounted to P$595,347 million and P$791,142 million in 2023 and 2022, respectively.
The decrease in cable television service revenues in 2023 was mainly due to the decrease in ARPU, an 8