Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 326

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 18
Chunk 326
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 between December 31, 2023 and December 31, 2024, establishing a net debt of US$2.700 billion on each calculation date, among other matters.
On January 31, 2025, the Company notified the Lenders that, due to the improvement of Argentina’s economic situation during 2024, the Company has been able to revert the situation that motivated the waiver and has complied with the ratios established in the original loan agreements since the calculation period ending on September 30, 2024 and has complied at all times with the conditions and restrictions set forth in the waiver agreements. As a consequence, thereof, and based on the early calculation of the ratios for the calculation period ending on Dember 31, 2024 following the methodology set forth in the original loan agreements, ,the Company has informed to the lenders that such waivers should be no longer in effect and that the original terms of the loan agreements shall be reinstated in their entirety.
Additionally, beyond the flexibility established in the waivers, the Company has also been within the limits established in the original loan agreements in relation to the aforementioned ratios, for the calculation periods of 2024.
As of the date of issuance of these consolidated financial statements, the Company complies with: a) the EBITDA/ Interest Net ratio and b) the Net Debt/EBITDA ratio established in the original loan agreements, and is also in compliance with the rest of the covenants established.
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NOTE 14 – SALARIES AND SOCIAL SECURITY PAYABLES
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                                              ​                                                 ​       ​        ​         ​   
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​                                                                                               ​            As of December 31,
Current                                                                                         2024           2023            
Salaries, annual complementary salaries, vacation, bonuses and their social security payables   ​    209,705   ​        189,592
Termination benefits                                                                            ​     16,557   ​          8,878
​                                                                                               ​    226,262   ​        198,470
​                                                                                               ​          ​   ​              ​
Non-current                                                                                     ​          ​   ​              ​
Termination benefits                                                                            ​      9,468   ​          8,120
​                                                                                               ​      9,468   ​          8,120
Total salaries and social security payables                                                     ​    235,730   ​        206,590
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Compensation for the Key Managers of Telecom for the years ended