Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 119

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 119
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 and, partially offset by increases in salaries agreed by the Company with several trade unions for unionized employees, and for non-unionized employees, together with related social security charges and an increase in severance payments.

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PART I - ITEM 5 OPERATING AND FINANCIAL REVIEW AND PROSPECTS   TELECOM ARGENTINA S.A.
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The effect generated by the restatement in current currency as of December 31, 2024, included in Employee benefit expenses and severance payments amounted to P$175,330 million and P$831,431 million in 2024 and 2023, respectively.
Interconnection and transmission costs
Interconnection and transmission costs (including charges for Roaming and cost of international outbound calls and lease of circuits) decreased P$13,860 million or 10.5%, amounting to P$118,525 million in 2024 as compared to P$132,385 million in 2023, respectively. The decrease was mainly due to new dynamics of the business that imply an optimization of links and sites and partially offset by increases in the foreign exchange rate in relation to fixed services denominated in U.S. dollars.
The effect generated by the restatement in current currency as of December 31, 2024, included in Interconnection and transmission costs amounted to P$23,971 million and P$98,496 million in 2024 and 2023, respectively.
Fees for services, maintenance, materials and supplies
Fees for services, maintenance, materials and supplies decreased P$12,934 million or 2.3%, amounting to P$550,457 million in 2024 as compared to P$563,391 million in 2023. The variation is mainly explained by the efficiency and management of resources through which fees for services decreased by P$29,192 million compared to 2023 partially offset by higher costs of maintenance and materials for P$15,468 million compared to 2023.
The effect generated by the restatement in current currency as of December 31, 2024, included in Fees for services, maintenance, materials and supplies amounted to P$125,857 million and P$423,183 million in 2024 and 2023, respectively.
Taxes and fees with the Regulatory Authority
Taxes and fees with the Regulatory Authority, including turnover tax, municipal taxes and other taxes, decreased P$18,856 million or 5.5%, amounting to P$325