Company: TCMFF
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001104659-25-018326
Chunk: 1

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 1
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| · | For analysis purposes, it should be noted that the results presented on a comparative basis (December 2023) include the effect of year-over-year inflation as of December 2024, which was 117.8%. |

| · | The Company's Consolidated Revenues amounted to P$4,137,596 million in FY24 (-7.7% in constant currency compared to FY23). The evolution of Service Revenues shows a trend of recovery in real terms: |

| o | Cumulative service revenues during FY24 totaled P$3,884,058 million (-6.4% vs. FY23), whereas in FY23 these had declined by 10.1% compared to FY22. |

| o | Service revenues for 4Q24 totaled P$986,418 million (+2.6% vs. 4Q23 – the first quarter of the year showing year-over-year revenues growth above inflation, consolidating the improvement observed in previous quarters). |

| · | During FY24, the evolution of the customer base in Argentina was positive: mobile accesses increased, reaching 21.6 million (+621 thousand compared to FY23). Meanwhile, cable TV subscribers also increased, totaling 3.2 million in the same period (+61 thousand compared to FY23). Finally, broadband totaled 4.0 million accesses (-44 thousand compared to FY23). |

| · | During FY24, the margin of Operating Income before Depreciation, Amortization, and Impairments of Fixed Assets ("Operating Income before D, A & I") over revenues registered 28.2%, which remained stable when compared with FY23. During FY24, Operating Income before D, A & I totaled P$1,164,877 million. |

| · | The real appreciation of                                                                                                          
 the Argentine peso against the US dollar during FY24, mainly driven by inflation outpacing devaluation, resulted in the Company   
 recording gains from foreign exchange differences in real terms, which are included in the Financial Results. These gains largely 
 explained a net income of P$1,033,252 million (vs. a loss of $543,727 million in FY23).                                           |

| · | CAPEX (excluding right-of-use assets) during FY24 represented 13.8% of Consolidated Revenues. Investments (including right-of-use assets) amounted to P$806,649 million in FY24, which represented 19.5% of our Consolidated Re