Company: TCMFF
Filing Date: 2025-05-13
Form Type: 6-K
Source: 0001104659-25-047837
Chunk: 40

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-13
Form: 6-K
Chunk 40
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 million
or 6.5% compared to 3M24.

Depreciation, amortization and impairment of Fixedand intangible assets contain $43,512 million corresponding to the consolidation of TMA as
of March 31, 2025. Excluding the impact of the consolidation of TMA, the variation is due to the effect of those assets that ended their
useful life after March 31, 2024, partially offset by the impact of the amortization of the CAPEX subsequent to that same date.

The effect generated by
the restatement in current currency as of March 31, 2025 included in depreciation, amortization and impairment of Fixed and intangible
assets amounts to $252,859 million and $321,493 million in 3M25 and 3M24, respectively.

| · | Operating income (loss) |

Operating income amounted to $111,899 million and
operating loss $40,771 million in 3M25 and 3M24, respectively. Representing an increase of $152,670 million as compared to 3M24. Operating
income / (loss) represented 8.2% and (3.8)% of revenues in 3M25 and 3M24, respectively.

Operating income contains $24,904 million corresponding
to the consolidation of TMA as of March 31, 2025.

| · | Financial results, net |

|                                                                                    |    3M25 |     |      3M24 |     |  Variation |     |        |
|                                                                                    |       $ 
 million |     |           |     |          $ 
    million |     |      % |
| Interests on borrowings                                                            | -49,098 |     |   -41,116 |     |     -7,982 |     |   19.4 |
| Remeasurement in borrowings                                                        |   5,945 |     |   -46,016 |     |     51,961 |     |    n/a |
| Foreign currency exchange gains on borrowings                                      | 128,787 |     | 1,331,210 |     | -1,202,423 |     |  -90.3 |
| Total financial results from borrowings                                            |  85,634 |     | 1,244,078 |     | -1,158,444 |     |  -93.1 |
| Other foreign currency exchange gains