Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 110

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 110
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134            791,281        (24.2)             (191,147)
Fixed and Data Services     ​     501,206            531,363         (5.7)              (30,157)
Other services revenues     ​      46,369             41,593   11.5                        4,776
Services Revenues           ​   3,884,058          4,150,426         (6.4)             (266,368)
Equipment revenues          ​     253,538            333,546        (24.0)              (80,008)
Revenues                    ​   4,137,596          4,483,972         (7.7)             (346,376)
​
During 2024, total consolidated revenues decreased by 7.7%, amounting to P$4,137,596 million compared to P$4,438,972 million in 2023.
Despite increased demand for services, consolidated revenues decreased mainly due to the 117.8% inflation rate over the past twelve months, as the Company and other competitors in the ICT industry did not transfer the totality of this inflation to its prices.
Services revenues amounted to P$3,884,058 million in 2024, decreasing 6.4% as compared to P$4,150,426 million in 2023 and represented 93.9% of consolidated revenues. Equipment revenues amounted to P$253,538 million in 2024 as compared to P$333,546 million in 2023 and represented 6.1% of consolidated revenues.
The effect generated by the restatement in current currency as of December 31, 2024, increased consolidated revenues by P$723,877 million and P$3,354,142 million in 2024 and 2023, respectively.
Consolidated revenues for 2024 and 2023 are comprised as follows:
Mobile Services
Mobile services revenues in 2024 amounted to P$1,679,334 million (a decrease of P$127,128 million or 7.0% as compared to 2023), being the principal contributor to our total services revenues for 2024 (43.2% of consolidated services revenues in 2024 as compared to 43.5% in 2023). Mobile internet services revenues represented 95% of the mobile services revenues as of December 31, 2024 and 202