Telecom Argentina Reports 9M24 & 3Q24 Results

Ticker: TCMFF · Form: 6-K · Filed: Nov 7, 2024 · CIK: 932470

Telecom Argentina SA 6-K Filing Summary
FieldDetail
CompanyTelecom Argentina SA (TCMFF)
Form Type6-K
Filed DateNov 7, 2024
Risk Levellow
Pages15
Reading Time17 min
Key Dollar Amounts$4,384.9 million, $2,852,341 million, $2,682,307 million, $822,296 million, $951,912 million
Sentimentneutral

Sentiment: neutral

Topics: results, financials, inflation-adjustment

Related Tickers: TEO

TL;DR

TEO dropped 9M24/3Q24 results, market cap $4.38B, inflation adjusted.

AI Summary

Telecom Argentina S.A. announced its consolidated results for the nine-month period and third quarter of fiscal year 2024. The company's market capitalization on the NYSE (TEO) was US$4,384.9 million as of the filing date. The financial statements account for the effects of inflation adjustments.

Why It Matters

This filing provides investors with key financial performance indicators for Telecom Argentina, allowing them to assess the company's operational health and make informed investment decisions.

Risk Assessment

Risk Level: low — This is a routine financial results announcement with no immediate new risks or significant negative developments.

Key Numbers

  • US$4,384.9 million — Market Cap (NYSE: TEO) (Indicates the total market value of the company's outstanding shares.)

Key Players & Entities

  • Telecom Argentina S.A. (company) — Registrant
  • Luis Fernando Rial Ubago (person) — Contact Person
  • Tomás Pellicori (person) — Contact Person
  • US$4,384.9 million (dollar_amount) — Market Capitalization

FAQ

What period do the announced results cover?

The results cover the nine-month period and the third quarter of fiscal year 2024 (9M24 and 3Q24).

What is Telecom Argentina's market capitalization on the NYSE?

As of the filing date, Telecom Argentina's market capitalization on the NYSE (ticker TEO) was US$4,384.9 million.

How are the financial figures presented?

The company has accounted for the effects of inflation adjustments in the financial figures.

What is the company's principal executive office address?

The address is General Hornos, No. 690, 1272 Buenos Aires, Argentina.

What form is this filing submitted under?

This filing is submitted as a Form 6-K, Report of Foreign Private Issuer.

Filing Stats: 4,362 words · 17 min read · ~15 pages · Grade level 10.9 · Accepted 2024-11-07 17:21:37

Key Financial Figures

  • $4,384.9 million — @teco.com.ar Market Cap (NYSE: TEO): US$4,384.9 million * Telecom Argentina S.A. announces
  • $2,852,341 million — ny's Consolidated Revenues amounted to P$2,852,341 million in 9M24 (-10.4% in constant currency co
  • $2,682,307 million — the first nine months of 2024 totaled P$2,682,307 million (-9.1% compared to the first nine month
  • $822,296 million — erating Income before D, A & I totaled P$822,296 million. · Due to the real appreciatio
  • $951,912 million — , the Company recorded a net income of P$951,912 million (compared to an income of P$263,157 mil
  • $263,157 million — ,912 million (compared to an income of P$263,157 million in 9M23), mainly explained by gains fro
  • $538,119 million — uding right-of-use assets) amounted to P$538,119 million in 9M24 (-7.0% in constant currency vs.
  • $2,325,294 million — · Net Financial Debt totaled P$2,325,294 million as of September 30, 2024, decreasing in
  • $166,117 million — ncy - includes right-of-use assets for P$166,117 million as of September 30, 2024 and for P$123,
  • $123,767 million — llion as of September 30, 2024 and for P$123,767 million as of September 30, 2023) *** (Includ
  • $938,639 million — butable to the controlling company was P$938,639 million. It should be noted that comparative
  • $2,852,341 m — M24, Consolidated Revenues amounted to P$2,852,341 million, from which Service Revenues tota
  • $1,154,984 million — 9M24, mobile services revenues reached P$1,154,984 million (- P$137,447 million or -10.6% vs. 9M23
  • $137,447 million — evenues reached P$1,154,984 million (- P$137,447 million or -10.6% vs. 9M23), obtaining the high
  • $401,005 million — 4, mobile service revenues amounted to P$401,005 million (-4.3% vs. 3Q23). Mobile internet reven

Filing Documents

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of November 2024 Commission File Number: 001-13464 Telecom Argentina S.A. (Translation of registrant’s name into English) General Hornos, No. 690, 1272 Buenos Aires, Argentina (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F Form 40-F Contacts: Luis Fernando Rial Ubago - lfrialubago@teco.com.ar Tomás Pellicori - tlpellicori@teco.com.ar Market Cap (NYSE: TEO): US$4,384.9 million * Telecom Argentina S.A. announces consolidated results for the nine-month period (“9M24”) and third quarter of fiscal year 2024 (“3Q24”) ** Note: For the figures included in the FFSS, the Company has accounted for the effects of inflation adjustment adopted by Resolution 777/18 of the Comisión Nacional de Valores (“CNV”), which establishes that the restatement will be applied to annual financial statements, interim and special periods ending as of December 31, 2018, inclusive. Accordingly, the reported figures corresponding to 9M24 include the effects of the adoption of inflationary accounting in accordance with IAS 29. Therefore, comments related to variations of results between 9M24 and 9M23 mentioned in this press release correspond to “figures restated by inflation” or “constant” figures. Moreover, Table 3 shows information broken down by segment for periods ended as of September 30 of 2024 and 2023, as analyzed by the Executive Committee and the CEO, who receive periodically the financial information of Telecom and its subsidiaries (in historical values). For further details, please refer to the titles of the financial tables beginning on page 11. · For analysis purposes, it should be noted that the results presented on a comparative basis (September 2023) include the effect of the year-over-year inflation as of September 2024, which was 209%. · The Company's Consolidated Revenues amounted to P$2,852,341 million in 9M24 (-10.4% in constant currency compared to 9M23). The evolution of Service Revenues shows a trend of recovery in real terms that consolidated during 3Q24 (+2.5% and +6.0% compared to 2Q24 and 1Q24, respectively). Meanwhile, Service Revenues during the first nine months of 2024 totaled P$2,682,307 million (-9.1% compared to the first nine months of 2023), in a context where year-over-year inflation remains at high levels. · During 9M24, the customer base in Argentina showed growth: mobile accesses increased to 21.4 million (+668 thousand compared to 9M23). Meanwhile, cable TV subscribers also increased, totaling 3.2 million in the same period (+49.5 thousand compared to 9M23). Finally, broadband totaled 4.0 million accesses (-46.9 thousand compared to 9M23). · During9M24 the margin of Operating Income before Depreciation, Amortization, and Impairments of Fixed Assets ("Operating Income before D, A & I") over revenues registered 28.8%, stable when compared with 9M23. During 9M24, Operating Income before D, A & I totaled P$822,296 million. · Due to the real appreciation of the Argentine peso against the US dollar during 9M24 (due to inflation being higher than devaluation during the period), the Company recorded a net income of P$951,912 million (compared to an income of P$263,157 million in 9M23), mainly explained by gains from exchange rate differences in real terms included in Financial Results. · CAPEX (excluding right-of-use assets) during the 9M24 represented 13.0% of Consolidated Revenues. Investments (including right-of-use assets) amounted to P$538,119 million in 9M24 (-7.0% in constant currency vs. 9M23), which represents 18.9% of our Consolidated Revenues. · Net Financial Debt totaled P$2,325,294 million as of September 30, 2024, decreasing in real terms (-37.6% in constant currency vs. December 31, 2023). *Market capitalization as of November 5, 2024 **Unaudited non-financial information TELECOM ARGENTINA 2 *(Figures may not add up due to rounding) ** (in constant currency - includes right-of-use assets for P$166,117 million as of September 30, 2024 and for P$123,767 million as of September 30, 2023) *** (Includes IP telephony lines, which amounted to approximately 1.78 million and 1.42 million as of September 30, 2024, and September 30, 2023, respectively) – Not included in ARPU calculations. 1- Consolidated Revenues 3- Operating Income before D, A & I (EBITDA) (in million P$) (in million P$) 2- Quarterly Service Revenues 4- Net Income (Loss) (in million P$) (in million P$) TELECOM ARGENTINA 3 Buenos Aires, November 7, 2024 - Telecom Argentina S.A. (“Telecom A

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