Telecom Argentina SA Class B ( (TCMFF) ) has released its Q3 earnings. Here is a breakdown of the information Telecom Argentina SA Class B presented to its investors.
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Telecom Argentina S.A. is a prominent telecommunications provider in Argentina, offering a range of services including fixed-line and cellular telephone, data transmission, internet, and pay TV services. The company also operates in Paraguay and Uruguay, providing mobile, broadband, and satellite services.
In its latest earnings report for the nine-month period and third quarter of 2024, Telecom Argentina reported consolidated revenues of P$2,852,341 million, marking a 10.4% decrease in constant currency compared to the same period in 2023. However, service revenues showed signs of recovery during the third quarter. The company also experienced a notable increase in net income, primarily due to exchange rate gains.
Key financial highlights include a net income of P$951,912 million for the nine-month period, significantly up from P$263,157 million in the previous year, driven by exchange rate differences. Additionally, the company’s customer base in Argentina grew, with increases in mobile accesses and cable TV subscriptions, although broadband access saw a slight decline. Operating income before depreciation, amortization, and impairments remained stable at 28.8% of revenues.
Despite the challenging economic environment, characterized by high inflation rates, Telecom Argentina has managed to reduce its net financial debt by 37.6% in real terms compared to the end of 2023. The company invested P$538,119 million in capital expenditures, focusing on expanding cable TV, internet services, and enhancing mobile network capacity.
Looking ahead, Telecom Argentina is poised to continue its strategic investments and network expansions, with a focus on improving service offerings and maintaining financial stability amid Argentina’s economic challenges. The company’s management remains cautiously optimistic about future growth prospects.