Company: TCMFF
Filing Date: 2025-05-13
Form Type: 6-K
Source: 0001104659-25-047837
Chunk: 42

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-13
Form: 6-K
Chunk 42
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 an expense of $2,710 million in 3M24), (ii) regarding the deferred tax in 3M25, Telecom recorded
a deferred tax gain of $119,173 million compared to an expense of $326,031 million in 3M24.

Income tax benefit (expense) contains $35,158 million
corresponding to the consolidation of TMA as of March 31, 2025.

| · | Net income |

Telecom recorded net income of $93,202 million
in 3M25 as compared to net income of $1,052,577 million in 3M24 and represented a 6.8% of revenues as compared to 98.7% in 3M24. The decrease
in 3M25 compared to 3M24 was mainly due to a decrease in financial result net of $1,323,252 million which was partially offset by an increase
in operating income of $152,670 and a decrease in income tax expense of $208,996 million.

Net income attributable to controlling shareholders
amounted to $89,060 million in 3M25 compared to $1,048,255 million in 3M24.

Net income contains a loss of $24,404 million corresponding
to the consolidation of TMA as of March 31, 2025.

| · | Adjusted EBITDA |

An important operational performance measure used
by the Company’s Chief Operating Decision Maker (as this term is defined in IFRS Accounting Standard 8) is Adjusted EBITDA. Adjusted
EBITDA is defined as our net (loss) income less income tax, financial results, earnings (losses) from associates and joint ventures and
depreciation, amortization and impairment of Fixed and intangible assets. We believe Adjusted EBITDA facilitates company-to-company operating
performance comparisons by backing out potential differences caused by variations such as capital structures, taxation and the useful
lives and book depreciation and amortization of property, plant and equipment (PP&E) and intangible assets, which may vary for different
companies for reasons unrelated to operating performance. Although Adjusted EBITDA is not a measure defined in accordance with IFRS Accounting
Standards (a non-GAAP measure), our Management believes that this measure facilitates operating performance comparisons from period to
period and provides useful information to investors, financial analysts and the public in their evaluation of our operating performance.
Adjusted EBITDA does