Telecom Argentina SA

Latest Results (23.05.2024):

Revenue Growth

In the fiscal year 2023, Telecom Argentina SA reported a significant increase in revenues, amounting to P$153,169 million, which represents a 1.2% increase compared to the previous year. This growth was primarily driven by a 13% increase in the quantity of handsets sold, highlighting the company's strong performance in the equipment sales segment.

Consolidated Operating Costs

Telecom Argentina SA managed to significantly reduce its consolidated operating costs in FY23, totaling P$2,184,166 million, which is a decrease of 31.5% compared to the previous year. This reduction includes a decrease in costs across several categories such as employee benefits, interconnection, and transmission costs, as well as lower fees for services, maintenance, and materials.

Net Financial Results

The net financial results for Telecom Argentina SA in FY23 showed a loss of P$460,991 million, a stark contrast to the income of P$193,004 million reported in FY22. This downturn was mainly due to adverse financial expenses on debt and other financial results, reflecting the challenging economic conditions.

Investments in Technology and Infrastructure

During FY23, Telecom Argentina SA continued to invest heavily in its technological infrastructure, spending P$568,817 million on property, plant, and equipment (PP&E), intangible assets, and rights of use assets. This represents a 24.0% increase from the previous year, emphasizing the company's commitment to enhancing its service quality and expanding its network capabilities.

Legal and Regulatory Developments

In a significant legal development, Telecom Argentina SA was notified on November 17, 2023, of the Federal Administrative Court No. 8's decision to declare the nullity of Decree 690/2020 and related ENACOM Resolutions. This decision is pivotal as it affects the regulatory framework within which Telecom Argentina operates, potentially impacting future operations and compliance requirements.