Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 133

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 133
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.2% decrease compared to 2022, and a 3.5% decrease in the customer base compared to 2022.
The ARPU amounted to P$18,708.5 as of December 31, 2023, compared to an ARPU of P$20,390.7 as of December 31, 2022. The decreased is mainly explained since inflation during 2023 amounted to 211.4%, the Company (and other competitors in the ICT industry) was unable to increase its prices during 2023 to the same extent as the increase in inflation (the effect generated by the restatement in current currency as of December 31, 2024 included in ARPU amounts to P$14,089.3 and P$18,185.4 as of December 31, 2023 and 2022, respectively). Additionally, the economic situation in Argentina changed our customers’ consumption trends.
As of December 31, 2023, the customer base in Argentina amounted to 3.1 million customers, decreasing a 3.5% compared to 2022. Out of the total customers as of December 31, 2023, 1.4 million were Flow’s customer base and 1.2 million were Premium Package’s customer base, whereas as of December 31, 2022, 1. 3 million were Flow’s customer base and 1.3 were Premium Package’s customer base. This decrease is mainly due to the economic situation in Argentina and the changes in customers’ consumption trends. Additionally, the average churn rate per month amounted to 1.8% and 1.3% in 2023 and 2022, respectively.

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PART I - ITEM 5 OPERATING AND FINANCIAL REVIEW AND PROSPECTS   TELECOM ARGENTINA S.A.
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ARPU of Cable Television Services of Telecom Argentina
An important monthly operational measure used in the Cable Television services is ARPU, which we calculate by dividing adjusted total service revenues - excluding connection and administration fees, advertising services 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 Cable Television’s ARPU calculations presented in this Annual Report. Management believes this measure is