Company: TCMFF
Filing Date: 2025-11-12
Form Type: 6-K
Source: 0001104659-25-110392
Chunk: 32

Company: TELECOM ARGENTINA SA
Filing Date: 2025-11-12
Form: 6-K
Chunk 32
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 million and $1,025,559 million in 9M25 and 9M24, respectively.

Main operating costs for 9M25 and 9M24 are comprised as follows:

Employee benefit expenses and severance payments

Employee benefit expenses and severance payments amounted to $1,358,615 million in 9M25, increasing $443,530 million or 48.5% compared to 9M24.

The increase was mainly due to the consolidation of TMA’s results, which contributed $465,035 million, which includes $111,746 million related to restructuring costs mentioned in Note 1.a) to the unaudited condensed consolidated financial statements.

Excluding the impact of the consolidation of TMA, the decrease was mainly due to lower severance payments and the effect of a reduction in net headcount (18,977 Company employees as of September 30, 2025, a decrease of 6.3% compared to September 30, 2024), partially offset by salary increases agreed upon by the Company with several trade unions for unionized employees, as well as for non-unionized staff, together with related social security charges.

The effect generated by the restatement in constant currency as of September 30, 2025, included in employee benefit expenses and severance payments amounted to $90,765 million and $332,993 million in 9M25 and 9M24, respectively.

Interconnection and transmission costs

Interconnection and transmission costs (including charges for termination from third parties’ mobile networks, roaming and cost of international outbound calls and lease of circuits) amounted to $200,813 million in 9M25, increasing $88,431 million or 78.7% compared to 9M24.

The increase was mainly due to the consolidation of TMA’s results, which contributed $135.344 million. These mainly include the use of infrastructure and interconnection costs.

Excluding the impact of TMA’s consolidation, the decrease is mainly due to the change in the service contracting model for call termination on the destination network, shifting from a variable charge model to a fixed mobile capacity block contracting model.

The effect generated by the restatement in constant currency as of September 30, 2025, included in Interconnection and transmission costs amounted to $15,994 million and $42,896 million in 9M25 and 9M24, respectively.

Fees for services, maintenance, materials and supplies

Fees for services, maintenance