Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 135

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 135
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 December 31, 2023 and 2022, respectively).
The customer base of fixed telephony services amounted to 2.9 million in 2023, compared to 3.0 million in 2022. The customer base decreased mainly due to changes in consumption behavior of customers.
Equipment
Equipment revenues amounted to P$333,546 million in 2023 (representing 7.4% of our total consolidated revenues) increasing P$3,832 million or 1.2% as compared to 2022.
The effect generated by the restatement in current currency as of December 31, 2024, included in equipment revenues amounted to P$249,705 million and P$293,562 million in 2023 and 2022, respectively.
The increase was mainly due to higher handsets sold as compared to 2022 (13%).

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PART I - ITEM 5 OPERATING AND FINANCIAL REVIEW AND PROSPECTS   TELECOM ARGENTINA S.A.
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Operating costs (without depreciation, amortization and impairment of Fixed Assets)

                                            ​                                               ​    ​          ​         ​      ​          ​        ​   ​      ​      ​      ​        ​   
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​                                                                                           ​   Year ended December 31,                          ​   ​             ​    ​              
​                                                                                               ​             2023          ​             2022       Total Change                      
​                                                                                               (P$million)                                      ​   %                  (P$million)    
Employee benefit expenses and severance payments                                            ​   ​      (1,120,311)          ​      (1,238,705)       ​     (9.6)        ​       118,394
Interconnection and transmission costs                                                      ​   ​        (132,385)          ​        (152,276)       ​    (13.1)        ​        19,891
Fees for services, maintenance, materials and supplies                                      ​   ​        (563,391)          ​        (599,849)       ​     (6.1)        ​        36,458
Taxes and fees with the Regulatory Authority                                                ​   ​        (344,478)          ​        (379,692)       ​     (9.3)        ​        35,214
Commissions and advertising                                                                 ​   ​        (262,627)          ​        (299,503)       ​    (12.