Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 98

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 98
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 and business strategy. Additionally, during 2024, we distributed non-cash dividends for an aggregate of P$115,725 million (P$118,854 million in current currency as of December 31, 2024).
We remain confident in Argentina’s potential economic recovery and emphasize the need for regulatory and tax incentives to promote investment in the ICT industry. 
Our achievements would not be possible without the support of our customers, who choose us every day. We deeply thank them and renew our commitment to continue delivering high-quality services, products, and solutions that enhance their digital experience.
Consolidated revenues in 2024 amounted to P$4,137,596 million as compared to P$4,483,972 million in 2023 and P$4,944,819 million in 2022. The decrease of P$346,376 million in 2024 (a 7.7% decrease) was mainly due to the fact that the inflation rate for the last twelve months amounted to 117.8% and the Company (and other competitors in the ICT industry) did not transfer the totality of this inflation to its prices. The decrease of P$460,847 million in 2023 (a 9.3% decrease) was mainly due to the fact that the inflation rate for the last twelve months amounted to 211.4% and the Company (and other competitors in the ICT industry) did not transfer the totality of this inflation to its prices. 
Net income in 2024 amounted to P$1,033,252 million as compared to a net loss of P$543,727 million and a net loss of P$1,394,512 million in 2023 and 2022, respectively. Net income for 2024 increased by P$1,576,979 million as compared to 2023. 
For a detailed analysis of our results of operations for fiscal year 2024, see “—Years ended December 31, 2024, 2023 and 2022” below. For a discussion of the factors that may affect our results of operations see “Item 3—Key Information—Risk Factors” and “—Years ended December 31, 2024, 2023 and 2022—Factors Affecting Results of Operations” and “—Trend Information” below.
Non-IFRS Accounting Standards Measures
The following discussion and analysis summarizes relevant measures of results of operations presenting items by nature. The Company believes that