Eine Frau beim Telefonieren (Symbolbild).
Mittwoch, 09.11.2022 20:22 von

Telecom Argentina S.A. announces consolidated results for the nine month period ("9M22") and third quarter of fiscal year 2022 ("3Q22") **

Eine Frau beim Telefonieren (Symbolbild). © pixabay.com

PR Newswire

BUENOS AIRES, Argentina, Nov. 9, 2022 /PRNewswire/ -- Note: For the figures included in their 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 the annual financial statements, for intermediate and special periods ended as of December 31, 2018 inclusive. Accordingly, the reported figures corresponding to 9M22 include the effects of the adoption of inflationary accounting in accordance with IAS 29. Finally, comments related to variations of results of 9M22 and vs. 9M21 mentioned in this press release correspond to "figures restated by inflation" or "constant".

  • Previous' year figures included for comparative purposes (September 2021) contain the effect of the year over year inflation as of September 2022, which was 83.0%.
  • Consolidated Revenues amounted to P$470,960 million in 9M22 (-12.2% in constant currency vs. 9M21), in a context of inflationary acceleration. Service Revenues totaled P$440,369 million (-11.6% in constant currency vs. 9M21).
  • Mobile clients in Argentina reached 20 million in 9M22 (+0.5 million vs. 9M21), cable TV subscribers totaled approximately 3.5 million (-61 thousand vs. 9M21), while broadband accesses amounted to 4.2 million (-30 thousand vs. 9M21).
  • Operating Income before Depreciation and Amortization amounted to P$135,138 million in 9M22 (-22.6% vs. 9M21), while our operating margin before D&A was 28.7%.
  • Due to economic and market conditions, a goodwill impairment of P$207.940 million was recorded as depreciation, amortization and impairment of fixed assets (refer to the "Impairment of goodwill" section of this press release), mainly including the goodwill generated as a result of the merger between Cablevisión and Telecom (which was effective as of January 1, 2018). The aforementioned impairment does not affect assets other than goodwill and has no impact over the Company's operations or its cash generation capacity.
  • The Company registered a Net Loss of P$163,498 million in 9M22 (vs. an income of P$1,876 million in 9M21). This loss was mainly due to the abovementioned impairment, and was partially offset by positive net financial results of P$75,126 million.
  • Investments (including rights of use assets) reached P$85,664 million in 9M22, equivalent to 18.2% of our Consolidated Revenues.
  • Net Financial Debt amounted to P$360,531 million in 9M22 (-11.8% in constant currency vs. 9M21).

**Unaudited non financial data

 (in million P$ adjusted by inflation, except where noted)**


IAS 29



IAS 29


  Δ $ 


 Δ % 

Kurse


As of Sep-30,



As of Sep-30,




2022



2021



Consolidated Revenues


470,960



536,247


(65,287)


-12.2 %

Operating Income before D&A  


135,138



174,607


(39,469)


-22.6 %

Operating Income (loss)


(234,668)



2,169


(236,837)


-

Net Income (loss) before income tax expense


(159,200)



58,542


(217,742)


-

Net income (loss) attributable to Controlling Company


(164,873)



655


(165,528)


-

Shareholders' equity attributable to Controlling Company


690,897



887,412


(196,515)


-22.1 %

Net Financial Debt 


(360,531)



(408,918)


48,387


-11.8 %

Investments in PP&E, intangible assets & rights of use assets *


85,664



121,750


(36,086)


-29.6 %











Fixed lines in service (in thousand lines) ***


2,030



2,524


(494)


-19.6 %

Mobile customers (in thousand)


22,339



21,722


617


2.8 %

            Personal (Argentina)


19,997



19,522


475


2.4 %

            Núcleo (Paraguay) -including Wimax customers-


2,342



2,200


141


6.4 %

Broadband accesses in Argentina (in thousand)


4,218



4,248


(30)


-0.7 %

Pay TV Subscribers (in thousand)


3,500



3,561


(61)


-1.7 %











Average Billing per user (ARPU) Fixed Telephony / voice  (in P$ - Restated by inflation)


1,206.6



1,296.2


(89.6)


-6.9 %

Average Revenue per user (ARPU) Mobile Services - Personal (in P$ - Restated by inflation)


936.5



1,039.6


(103.1)


-9.9 %

Average Revenue per user (ARPU) Broadband (in P$ - Restated by inflation)


2,642.0



2,892.8


(250.8)


-8.7 %

Average Revenue per user (ARPU) Cable TV (in P$ - Restated by inflation)


2,620.9

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