Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 141

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 141
---
,122   ​        20,479   ​      n/a 
RECPAM                                                                                       409,001               360,523   ​        48,478   ​      13.4
Other                                                                                       (75,064)              (71,596)   ​       (3,468)   ​      4.8 
Total other financial results, net                                                           377,419               218,589   ​       158,830   ​      72.7
Total financial results, net                                                             (1,003,871)               420,293   ​   (1,424,164)   ​      n/a 
​

​
​

PART I - ITEM 5 OPERATING AND FINANCIAL REVIEW AND PROSPECTS   TELECOM ARGENTINA S.A.
-------------------------------------------------------------------------------------

We incurred a financial loss, net of P$1,003,871 million in 2023, as compared to financial income, net of P$420,293 million in 2022. Financial Results, net in 2023 mainly include losses generated by (i) foreign exchange differences measured in real terms of P$1,490,835 million as a result of the U.S. dollar appreciating 118% against the Argentine Peso compared to a 211.4% inflation (compared to a gain of P$294,154 million in 2022 and 72.5% devaluation of the Argentine Peso against the U.S. dollar compared to a 94.8% inflation in 2022), (ii) interest on borrowings measured in real terms of P$127,344 million (compared to P$101,389 million in 2022), and (iii) other financial results of P$43,203 million (compared to P$58,746 million in 2022). These losses were partially offset by gains generated by (i) the effect generated by the restatement in current currency, which amounted to a gain of P$409,001 million (compared to P$360,523 million in 2022), (ii) fair value gains on financial assets at fair value through profit or loss of P$140,072 million (compared to a loss of P$86,008 million in 2022) and (iii) gains from remeasurement in borrowings of P$108,438 million (compared to P$11,759 million in 2022).
Income Tax