Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 114

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 114
---
 fees revenues and others - (divided by 12 months) by the average number of customers during the period. ARPU is not a measure calculated in accordance with IFRS Accounting Standards and our measure of ARPU may not be calculated in the same manner as similarly titled measures used by other companies. Certain components of service revenues are excluded from Internet’s ARPU calculations presented in this Annual Report. Management believes this measure is helpful in assessing the development of the subscriber base of internet services. The following table shows the reconciliation of total service revenues to such revenues included in the ARPU calculations of 2024 and 2023: 

                                 ​                                    ​              ​               ​                ​           
----------------------------------------------------------------------------------------------------------------------------------
​                                                                         Year ended December 31,          Year ended December 31,
​                                                                     ​   2024                      ​      2023                   
​                                                                     ​   (P$ million)                                            
Total Internet service revenues                                       ​   996,533                   ​      926,525                
Components of service revenues not included in the ARPU calculation   ​   —                         ​      —                      
Adjusted total service revenues included in the ARPU calculation      ​   996,533                   ​      926,525                
Average number of customers during the year (millions)                ​   4.0                       ​      4.1                    
​
Cable Television Services
Cable television service revenues amounted to P$600,134 million in 2024 (equivalent to 15.5% of total consolidated services revenues), decreasing P$191,147 million or 24.2% as compared to revenues in 2023. The effect generated by the restatement in current currency as of December 31, 2024, included in cable television services revenues amounted to P$104,811 million and P$595,347 million in 2024 and 2023, respectively.
The decrease in cable television service revenues in 2024 was mainly due to the decrease in ARPU, a 26.3% decrease compared to 2023, partially offset by a 1.9% increase in the customer base compared to 2023.
The ARPU amounted to P$13,792.3 as of December 31, 2024, compared to an ARPU of P$18,708.5 as of December 31, 2023. The decreased is mainly explained since inflation during 2024 amounted to 117.8%, the Company (and other competitors in the ICT industry) was