UNITED
STATES
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 May 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:
Contacts:
Luis Fernando
Rial Ubago - lfrialubago@teco.com.ar
Tomás
Pellicori - tlpellicori@teco.com.ar |
Market
Cap (NYSE: TEO): US$3,975.7 million*
|
Telecom
Argentina S.A.
announces
consolidated results for the first quarter of fiscal year 2024 (“1Q24”) **
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 1Q24 include the effects of the adoption of inflationary accounting in accordance with IAS 29. Therefore,
comments related to variations of results between 1Q24 and 1Q23 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 March 31 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. |
| · | It
should be noted that the results presented on a comparative basis (March 2023) include
the effect of the year-over-year inflation as of March 2024, which was 287.9%. |
| · | The
Company's Consolidated Revenues amounted to P$683,916 million in 1Q24 (-17.9% in constant
currency compared to 1Q23). Service Revenues totaled P$651,872 million (-16.3% vs. 1Q23),
decreasing because the net effect of the price increases implemented by the Company on revenues
has been lower than the year-on-year inflation. |
| · | The
evolution of our subscriber base has shown resilience during 1Q24. Mobile and fixed internet
accesses increased, reaching 21.2 million in 1Q24 (+681 thousand vs. 1Q23) and 4.1 million
(+18 thousand vs. 1Q23), respectively. On the other hand, Pay TV subscribers in Argentina
totaled 3.1 million in the same period (-49 thousand vs. 1Q23). |
| · | The
margin of Operating Income before Depreciation, Amortization, and Impairments of Fixed Assets
("Operating Income before D, A & I") over revenues remained stable compared
to the same period of the previous year, even in the challenging context in which the Company
operates, registering 30.3% in 1Q24. This stability is due to the effective management of
Operating Costs before Depreciation, Amortization, and Impairments of Fixed Assets, which
recorded a significant decrease in real terms during 1Q24 (-17.9% vs. 1Q23). In 1Q24, Operating
Income before D, A & I totaled P$207,134 million. |
| · | Due
to the real appreciation of the Argentine peso against the US dollar during 1Q24 (due to
inflation being higher than devaluation, registering variations of 51.6% and 6.1%, respectively),
the Company recorded a net income of P$675,032 million (compared to an income of P$110,477
million in 1Q23). mainly explained by gains from exchange rate differences in real terms
included in Financial Results. |
| · | Investments
(including right-of-use assets) amounted to P$145,472 million in 1Q24 (+8.6 in constant currency
vs. 1Q23), which represents 21.3% of our Consolidated Revenues. CAPEX (excluding right-of-use
assets) during the 1Q24 represented 15.3% of Consolidated Revenues. |
| · | Net
Financial Debt totaled P$1,988,429 million as of March 31, 2024, decreasing in real
terms (-29.1% in constant currency vs. December 31, 2023). |
*Market
capitalization as of May 7, 2024
**Unaudited
non-financial information
*(Figures
may not add up due to rounding)
**
(in constant currency - includes right-of-use assets for P$40,804 million as of March 31, 2024 and for P$35,506 million as of March 31,
2023)
***
(Includes IP telephony lines, which amounted to approximately 1.60 million and 1.17 million as of March 31, 2024, and March 31,
2023, respectively)
Consolidated
Revenues
(in
million P$)
| | Operating
Income before D, A & I (EBITDA)
(in
million P$)
|
| | | |
 | |  |
| | | |
Operating
Income (Loss) (EBIT)
(in
million P$)
| | Net
Income (Loss)
(in
million P$)
|
| | | |
 | |  |
Buenos
Aires, May 8, 2024 - Telecom Argentina S.A. (“Telecom Argentina”)
- (NYSE: TEO; BYMA: TECO2), announced today a Net Income of P$675,032 million for the period ended March 31, 2024, mainly explained
by gains from exchange rate differences in real terms included in Financial Results. The Net Income attributable to the controlling company
was P$672,260 million.
It
should be noted that comparative figures for the previous fiscal year have been restated by inflation so that the resulting information
is presented in terms of the current measurement unit as of March 31, 2024.
The
following table shows the evolution of the national consumer price index (National CPI - according to INDEC’s official statistics)
as of March 31, 2024, and as of December 31 of 2023 and 2022, used for the restatement of figures in constant currency:
| |
As
of December 31,
2022 |
As
of December 31,
2023 |
As
of March 31,
2024 |
| Annual |
94.8% |
211.4% |
287.9% |
3-month
cumulative
(Since
December 2023) |
n/a |
n/a |
51.6% |
During
1Q24, Consolidated Revenues amounted to P$683,916 million, from which Service Revenues totaled P$651,872 million.
During
1Q24, Service Revenues decreased by 16.3% compared to 1Q23, mainly due to a decrease in real ARPUs in the main segments. This is because
the net effect of the price increases implemented by the Company on revenues was lower than the year-on-year inflation rate, which stood
at 287.9%. Additionally, higher levels of discounts were granted to customers to maintain the customer base, considering the intense
competition in the market.
Consolidated Revenues
Mobile
Services
As
of March 31, 2024, total mobile subscribers in Argentina and Paraguay amounted to 23.5 million. In 1Q24, mobile services revenues
reached P$278,328 million (- P$61,484 million or -18.1% vs. 1Q23), obtaining the highest share in terms of service revenues (representing
42.7% and 43.6% of service revenues in 1Q24 and 1Q23, respectively). Mobile internet revenues in 1Q24 and 1Q23 were equivalent to 92%
of total revenues for these services.
Mobile
Services in Argentina
As
of March 31, 2024, total mobile subscribers amounted to approximately 21.2 million (+681 thousand vs. 1Q23). Throughout the period,
a change in customer behavior was observed, resulting in a 8.7% increase in the prepaid subscriber base and a 4.2% decrease in the postpaid
subscriber base. As of March 31, 2024, postpaid accesses represent 39% of our mobile subscriber base.
In
1Q24, mobile service revenues in Argentina amounted to P$248,513 million (-P$66,084 million or -21% vs. 1Q23). The average monthly revenue
per user (“ARPU”) amounted to P$3,872.0 during the 1Q24 (vs. P$5,071.0 in 1Q23). The effect generated by the restatement
in terms of the current measurement unit as of March 31, 2024, included in the ARPU amounted to P$381.7 and P$3,844.2 for 1Q24 and
1Q23, respectively. The average monthly churn rate was 1.5% in 1Q24 (compared to an average of 1.7% in 1Q23).
During
the Mobile World Congress 2024, the Company was distinguished, for the fifth consecutive time by Ookla, a global leader in network usage
testing, for having the fastest mobile network in Argentina, as verified through its SpeedTest platform. Thus, it is the only operator
in Latin America to achieve this accomplishment.
Personal
in Paraguay (“Núcleo”)
As
of March 31, 2024, Núcleo’s subscriber base reached 2.4 million. Of the total number of accesses, 75% correspond to
prepaid plans and 25% to postpaid plans, whereas as of March 31, 2023, prepaid accesses represented 79% and postpaid accesses 21%.
During
1Q24, Mobile service revenues in Paraguay reached P$29,815 million (+ P$4,600 million or +18.2% vs. 1Q23). The increase is mainly due
to the real depreciation of the Argentine peso against the Guarani compared to 1Q23.
Internet
Services
Internet
services revenues totaled P$168,535 million during 1Q24 (-P$13,829 million or -7.6% vs. 1Q23). Total broadband subscribers reached approximately
4.1 million in 1Q24 (-18 thousand vs. 1Q23), continuing with the stabilization
observed since the second quarter of 2023. The monthly churn rate of Internet services was positioned at 1.5% and 1.7% as of March 31,
2024, and 2023, respectively.
Additionally,
broadband ARPU (restated in constant currency as of March 31, 2024) amounted to P$12,733.2 in 1Q24 (vs. P$14,122.3 in 1Q23). The
effect generated by the restatement in terms of the measuring unit as of March 31, 2024, included in the ARPU amounted to approximately
P$1,184.7 and P$10,711.2 for 1Q24 and 1Q23, respectively.
As
of March 31, 2024, customers with a service of 100 Mb or higher represent 85% of the total customer base (vs. 81% as of March 31,
2023). In 1Q24, accesses with this speed or higher amounted to 3.5 million (+5.5% compared to 1Q23).
Cable
TV Services
Cable
TV service revenues reached P$101,424 million in 1Q24 (-P$53,371 million or -34.5% vs. 1Q23). Cable TV subscribers, including Uruguay
and Paraguay, exceeded 3.3 million (-47 thousand vs. 1Q23).
The monthly Cable TV ARPU
(restated in constant currency as of March 31, 2024) reached P$9,041.0 during 1Q24 (vs. P$14,460.9 in 1Q23). The effect generated
by the restatement in terms of the measuring unit as of March 31, 2024, included in the ARPU amounts to P$894.0 and P$10,971.7,
for 1Q24 and 1Q23, respectively.
The
subscriber base in Argentina amounted to 3.1 million accesses as of March 31, 2024, reflecting a 1.5% decrease compared to 1Q23.
This decline is primarily attributed to the country's economic situation and a shift in customer consumption trends. Despite this, the
number of Flow subscribers continued to grow (+12% vs. 1Q23), demonstrating the strength and market acceptance of the platform in the
market. Premium subscriptions as of 1Q24 amounted to 1.2 million. Monthly churn rate was 1.8% as of March 31, 2024, and 2023.
Fixed
Telephony and Data Services
Revenues
generated by fixed telephony and data services reached P$95,749 million in 1Q24 (+P$717 million or +0.8% vs. 1Q23).
The
monthly fixed voice ARPU (restated in constant currency as of March 31, 2024) reached P$5,875.6 in 1Q24 (vs. P$6,276.9 in 1Q23).
The effect generated by the restatement in terms of the measuring unit as of March 31, 2024, included in the ARPU amounted to P$640.7
and P$4,771.7 for 1Q24 and 1Q23, respectively.
Other
Service Revenues
Other
service revenues, primarily including fintech-related services, billing and collection management revenue on behalf of third parties,
administrative revenue, and advertising space sales revenue, among others, reached P$7,836 million (+P$1,067 million or +15.8% compared
to 1Q23).
The
main variation is driven by the increase in fintech services in Argentina by P$1,839 million, mainly due to the growth in platform usage
and the increase in the number of users.
Our
virtual wallet service, Personal Pay, ended the period with 2.5 million customers (vs. 1 million in 1Q23). Personal
Pay developed new features, including the addition of remunerated account balance services, prepaid cards for teenagers, Extra Pay and
B2B solutions, among others.
Revenues
from equipment sales
Equipment
revenues reached P$32,044 million (-P$22,397 million or -41.1% vs. 1Q23). This variation is mainly due to a 37% decrease in the quantity
of handsets sold compared to 1Q23.
Consolidated Operating
Costs
Consolidated
Operating Costs (including Depreciation, Amortization and Impairment of Fixed Assets) totaled P$710,063 million in 1Q24 (-P$135,135 million
or -16.0% vs. 1Q23). Excluding Depreciation, Amortization and Impairment of Fixed Assets, operating costs experienced a reduction of
17.9% in real terms during the same period.
The
cost breakdown was as follows:
| · | Employees
benefits and severance payments: P$157,824 million in 1Q24 (-21.2% vs. 1Q23). Total employees
amounted to 21,079 as of March 31, 2024. |
| · | Interconnection
and transmission costs (including roaming, international settlement charges and lease of
circuits): P$25,088 million (+0.9% vs. 1Q23). |
| · | Fees
for services, maintenance and materials: P$100,037 million in 1Q24 (+2.4% vs. 1Q23). |
| · | Taxes
and fees paid to regulatory authorities: P$52,700 million (-17.9% vs. 1Q23). |
| · | Commissions
and advertising (commissions paid to agents, collection fees and other commissions): These
costs totaled P$35,507 million in 1Q24 (-26.9% vs. 1Q23). |
| · | Cost
of handsets sold: P$23,857 million (-38.3% vs. 1Q23). This variation is mainly due to a decrease
in the number of units sold compared to 1Q23. |
| · | Programming
and content costs: P$37,456 million (-21.6% vs. 1Q23). |
| · | Other
Costs totaled P$44,313 million (-24.7% vs. 1Q23), of which bad debt expenses totaled P$17,020
million (-32.5% vs. 1Q23). |
| · | Our
bad debt ratio was 2.5% of total revenues as of March 31, 2024 (vs. 3.0% in 1Q23). |
| · | Other
operating costs, including charges for lawsuits and other contingencies, energy and other
public services, insurance, rents and internet capacity, among others, totaled P$27,293 million
(-18.8% vs. 1Q23). |
| · | Depreciation,
amortization and impairment of fixed assets amounted to P$233,281 million (-11.7% vs. 1Q23).
This charge includes the impact of the amortization of assets incorporated after March 31,
2023, partially offset by the effect of the assets that were completely amortized after such
date. |
Net Financial Results
Net
Financial Results (including Financial Expenses on Debt and Other Financial Results) showed an income of P$913,364 million in 1Q24 (vs.
an income of P$75,149 million in 1Q23), mainly due to:
*Related
to Notes issued in UVA
Exchange
gains from exchange rate differences, measured in real terms, are the result of inflation outpacing the appreciation of the US dollar
against the Argentine peso (51.6% vs. 6.1%, respectively).
Income Tax
Telecom’s
income tax includes the following effects:
| i) | the
current income tax, determined based on the current tax legislation applicable to Telecom, |
| ii) | the
effect of applying the deferred tax method with respect to temporary differences determined
by comparing our asset and liability valuation according to tax and financial accounting
criteria which includes the effect of the income tax inflation adjustment. |
Income
tax loss amounted to P$210,826 million in 1Q24 (vs. an income of P$45,665 million in 1Q23). The loss related to item (i) above
amounted to P$1,738 million in 1Q24 (vs. a loss of P$310 million in 1Q23) and the income tax effect related to the application of
the deferred tax method described in item (ii) above is a loss of P$209,088 million in 1Q24 (vs. an income of P$45,975 million in 1Q23).
Consolidated
Net Financial Debt
As
of March 31, 2024, our net financial debt (cash, cash equivalents – net of Client Funds - plus financial investments and financial
NDF* minus loans) is passive and amounted to P$1,988,429 million, which represents a decrease of P$815,908 when compared to the net financial
debt as of December 31, 2023, restated by inflation.
*
Contemplates rate swaps and NDF (non-delivery forwards) agreements.
Investments
in PP&E, intangible assets and rights of use assets
During
1Q24, the Company invested (including rights of use assets) P$145,472 million (+8.6% vs. 1Q23). Said investments represented 21.3% of
consolidated revenues in 1Q24. As of March 31, 2024, investments without considering right of use of assets totaled $104.668 million
(+6.4% vs. 1Q23).
The
investments were focused on:
| · | Expansion
of cable TV and internet services to improve transmission and access speed offered to customers. |
| · | Deployment
and modernization of our 4G mobile access sites to improve coverage and increase mobile network
capacity. The deployment of 4G/LTE reached a coverage of 98% of the population. Our mobile
subscribers with access to our 4G network, according to Ookla's latest March 2024 benchmark,
perceived a better service experience, reaching average speeds of 38.6Mbps, compared to 30Mbps
during the same period in 2023. |
| · | During
the first months of 2024, we continued the expansion of our 5G network, with plans to reach
200 sites by the end of the year. |
| · | Expanding
our transmission and transport networks to unify the different access technologies and to
consolidate the deployment of last-mile networks with FTTH architecture. Additionally, we
continued with the plan to connect remote and low-density areas through satellite backhaul. |
Relevant
financial events of the period
Central
Bank Communication "A" 7621
On
September 15, 2020, through Communication "A" 7106, the BCRA established certain requirements to access the local exchange
market for purposes of repayment of cross-border financial debts, in particular, for the payment of principal outstanding amounts in
loans and securities having amortization payments scheduled between October 15, 2020 and December 31, 2021. According to this
Communication, the payment of principal amounts pertaining to loans and securities subject to the regulation should be part of a refinancing
plan that must be previously filed with the BCRA, which must provide that (i) only 40% of the principal amount owed and payable
shall be paid through the local foreign Exchange market on or prior to March 31, 2021; and (ii) the remaining 60% must be refinanced
so the average life of the debt is increased for a minimum of two years.
On
March 3, 2022, through Communication "A" 7466, and on October 13, 2022, through Communication "A" 7621,
the BCRA extended the requirements established by Communication "A" 7106 until December 31, 2022, and 2023, respectively.
Since
December 31, 2023, and up to the date of this release, this regime has not been extended, therefore, the Company has access to the
official exchange market for all financial debt maturities going forward.
Revocation
of Decree No. 690/20
Through
Executive Decree No. 302/24 published in the Official Gazette on April 9, 2024, the National Executive Power revoked the Decree
No. 690/20. As of the date of the issuance of this report, the Company is analyzing the effects of the Decree’s revocation.
Furthermore,
on February 20, 2024, the Company reported the extension of the preliminary injunction suspending the application of the regulation
for a period of six months, remaining in force until August 20, 2024. Consequently, the preliminary injunction is fully effective
as of this date.
Relevant
events after March 31, 2024
Ordinary
and Extraordinary General Shareholders’ Meeting
The
Ordinary and Extraordinary General Shareholders' Meeting held on April 25, 2024, resolved, among other matters, the following:
To
approve the proposal of the Board of Directors, expressed in purchasing power currency as of March 31, 2024, using the National
Consumer Price Index (National CPI) in accordance with Resolution CNV No. 777/18, regarding the negative Unassigned Results as of
December 31, 2023, amounting to P$257,730 million (P$390,775 million in constant currency as of March 31, 2024).
| (i) | Absorb
the amount of P$257,730 million (P$390,775 million in constant currency as of March 31,
2024) from the "Discretionary reserve to maintain the level of capital investments and
the current solvency level of the Company"; |
| (ii) | Reclassify
the amount of P$84,257 million (P$127,752 million in constant currency as of March 31,
2024) from the "Discretionary reserve to maintain the level of capital investments and
the current solvency level of the Company" and charge it against the "Merger Premium"; |
| (iii) | Delegate
powers to the Board of Directors to release the " Discretionary reserve to maintain
the level of capital investments and the current solvency level of the Company" in an
amount that allows the distribution of dividends in cash or in kind or in any combination
of both options, for a maximum distribution amount of up to US$100 million, once the conditions
detailed in Note 13.c), penultimate paragraph, of the Consolidated Financial Statements as
of December 31, 2023, are met or waived. |
Telecom
Argentina is a leading telecommunications company in Argentina, offering local and long distance fixed-line telephone, cellular, data
transmission, and pay TV and Internet services, among other services. Additionally, Telecom Argentina offers mobile, broadband and satellite
TV services in Paraguay and pay TV services in Uruguay. The Company commenced operations on November 8, 1990, upon the Argentine
government’s transfer of the telecommunications system in the northern region of Argentina.
As
of March 31, 2024, Telecom Argentina owns 2,153,688,011 issued and outstanding shares.
For
more information, please contact Investor Relations:
Luis
Fernando Rial Ubago
lfrialubago@teco.com.ar
|
Tomás
Pellicori
tlpellicori@teco.com.ar |
Santiago
Gramegna
smgramegnavedani@teco.com.ar |
|
For
information about Telecom Argentina’s services, visit:
www.telecom.com.ar
www.personal.com.ar
www.personal.com.py
Disclaimer
This
document may contain statements that could constitute forward-looking statements, including, but not limited to (i) the Company’s
expectations for its future performance, revenues, income, earnings per share, capital expenditures, dividends, liquidity and capital
structure; (ii) the continued synergies expected from the merger between the Company and Cablevisión S.A. (or the Merger);
(iii) the implementation of the Company’s business strategy; (iv) the changing dynamics and growth in the telecommunications
and cable markets in Argentina, Paraguay, Uruguay and the United States; (v) the Company’s outlook for new and enhanced technologies;
(vi) the effects of operating in a competitive environment; (vii) the industry conditions; (viii) the outcome of certain
legal proceedings; and (ix) regulatory and legal developments. Forward-looking statements may be identified by words such as “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “plan,” “project,”
“will,” “may” and “should” or other similar expressions. Forward-looking statements are not guarantees
of future performance and involve certain risks and uncertainties that are difficult to predict. In addition, certain forward-looking
statements are based upon assumptions as to future events that may not prove to be accurate. Many factors could cause actual results,
performance or achievements of the Company to be materially different from any future results, performance or achievements that may be
expressed or implied by forward-looking statements. These factors include, among others: (i) the Company’s ability to successfully
implement our business strategy and to achieve synergies resulting from the Merger; (ii) the Company’s ability to introduce
new products and services that enable business growth; (iii) uncertainties relating to political and economic conditions in Argentina,
Paraguay, Uruguay and the United States, including the policies of the new government in Argentina; (iv) the impact of political
developments, including the policies of the new government in Argentina, on the demand for securities of Argentine companies; (v) inflation,
the devaluation of the peso, the Guaraní and the Uruguayan peso and exchange rate risks in Argentina, Paraguay and Uruguay; (vi) restrictions
on the ability to exchange Argentine or Uruguayan pesos or Paraguayan guaraníes into foreign currencies and transfer funds abroad;
(vii) the impact of currency and exchange measures or restrictions on our ability to access the international markets and our ability
to repay our dollar-denominated indebtedness; (viii) the creditworthiness of our actual or potential customers; (ix) the nationalization,
expropriation and/or increased government intervention in companies; (x) technological changes; (xi) the impact of legal or
regulatory matters, changes in the interpretation of current or future regulations or reform and changes in the legal or regulatory environment
in which the Company operates, including regulatory developments such as sanctions regimes in other jurisdictions (e.g., the United States)
which impact on the Company’s suppliers; (xii) the effects of increased competition; (xiii) reliance on content produced
by third parties; (xiv) increasing cost of the Company’s supplies; (xv) inability to finance on reasonable terms capital
expenditures required to remain competitive; (xvi) fluctuations, whether seasonal or in response to adverse macro-economic developments,
in the demand for advertising; (xvii) the Company’s ability to compete and develop our business in the future; (xviii) the
impact of increased national or international restrictions on the transfer or use of telecommunications technology; and (xix) the
impact of the outbreak of COVID-19 on the global economy and specifically on the economies of the countries in which we operate, as well
as on our operations and financial performance. Many of these factors are macroeconomic and regulatory in nature and therefore beyond
the control of the Company’s management. Should one or more of these risks or uncertainties materialize, or underlying assumptions
prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended,
planned or projected. The Company does not intend and does not assume any obligation to update the forward-looking statements contained
in this document. These forward-looking statements are based upon a number of assumptions and other important factors that could cause
our actual results, performance or achievements to differ materially from our future results, performance or achievements expressed or
implied by such forward-looking statements. Readers are encouraged to consult the Company’s Annual Report on Form 20-F and
the periodic filings made on Form 6-K, which are periodically filed with or furnished to the United States Securities and Exchange
Commission, as well as the presentations periodically filed before the Argentine Securities and Exchange Commission (Comisión
Nacional de Valores) and the Buenos Aires Stock Exchange (Bolsas y Mercados Argentinos), for further information concerning risks and
uncertainties faced by the Company.
(Financial
tables follow)
*******
Telecom
Argentina S.A.
Consolidated
Information
First
Quarter – Fiscal Year 2024
(in
million Argentine Pesos)
Telecom
Argentina S.A.
Consolidated
Information
First
Quarter – Fiscal Year 2024
(in
million Argentine Pesos)
Telecom
Argentina S.A.
Consolidated
Information
First
Quarter – Fiscal Year 2024
(in
million Argentine Pesos)
Telecom
Argentina S.A.
Consolidated
Information
First
Quarter – Fiscal Year 2024
(in
million Argentine Pesos)
Telecom
Argentina S.A.
Consolidated
Information
First
Quarter – Fiscal Year 2024
(in
million Argentine Pesos)
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
| |
|
Telecom
Argentina S.A. |
| |
|
|
| |
|
|
| |
|
|
| Date: |
May 8, 2024 |
|
By: |
/s/
Luis Fernando Rial Ubago |
| |
|
|
|
Name: |
Luis Fernando Rial Ubago |
| |
|
|
|
Title: |
Responsible for Market Relations |
Telecom Argentina (PK) (USOTC:TCMFF)
Gráfica de Acción Histórica
De Oct 2024 a Nov 2024
Telecom Argentina (PK) (USOTC:TCMFF)
Gráfica de Acción Histórica
De Nov 2023 a Nov 2024
