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Donnerstag, 14.05.2020 21:13 von PR Newswire

Telecom Argentina S.A. announces consolidated results for the first quarter of fiscal year 2020 ("1Q20")*

Ein Telefon in einem Büro (Symbolbild). © jackSTAR / Cultura / Getty Images http://www.gettyimages.de

PR Newswire

BUENOS AIRES, May 14, 2020

BUENOS AIRES, May 14, 2020 /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 1Q20 include the effects of the adoption of inflationary accounting in accordance with IAS 29. Finally, comments related to variations of results of 1Q20 and vs. 1Q19 mentioned in this press release correspond to "figures restated by inflation" or "constant".

For comparative purposes, it is important to highlight that the results restated by inflation corresponding to March 2019 contain the effect of year over year inflation as of March 2020, which amounted to 48.3%.
Consolidated Revenues of Telecom Argentina amounted to P$62,762 million in 1Q20, of which Service Revenues totaled P$59,559 million (-3.3% in real terms vs. 1Q19), in a context where inflation still remains pretty high.
Mobile clients in Argentina reached 18.8 million in 1Q20 (-245 thousand vs. 4Q19). In turn, cable TV subscribers totaled approximately 3.5 million (-22 thousand vs. 4Q19), while broadband accesses amounted to almost 4.1 million (-49 thousand vs. 4Q19). A decrease in subscribers was noted for all products versus the previous quarter.
Operating Income before Depreciation and Amortization amounted to P$22,025 million (+2.5% vs. 1Q19) in 1Q20. Operating Income totaled P$ 5.766 million (-13.5% vs. 1Q19).
The Company registered a Net Income of P$2,641 million in 1Q20 (+39.2% vs. 1Q19), mainly reflecting a reduction in operative costs, which was partially offset by lower net financial results, measured in real terms. Moreover, FX gains during 1Q20 contributed positively to the Net Income.
Investments (including rights of use assets) reached P$9,985 million in 1Q20, equivalent to 15.9% of Consolidated Revenues. Said decrease in investments, as mentioned before, aims to enhance the Company's financial strength in the current environment.
Net Financial Debt amounted to P$134,098 million in 1Q20, (+26.3% in real terms vs. 1Q19).

*Unaudited non financial data

IAS 29

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

As of March, 31

Kurse

Telecom Argentina SA B ADR

5,825 €

0,00%

Telecom Argentina SA B ADR Realtime-Chart

Δ $

Δ %

2020

2019

Consolidated Revenues

62,762

65,735

(2,973)

-4.5%

Operating Income before D&A

22,025

21,488

537

2.5%

Operating Income

5,766

6,666

(900)

-13.5%

Net income before income tax expense

4,334

6,976

(2,642)

-37.9%

Net (loss) Income attributable to Controlling Company

2,549

1,827

722

39.5%

Shareholders' equity attributable to Controlling Company

330,433

375,429

(44,996)

-12.0%

Net Financial Debt

(134,098)

(106,179)

(27,919)

26.3%

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

9,985

13,446

(3,461)

-25.7%

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

3,078

3,452

(374)

-10.8%

Mobile customers (in thousand)

21,202

20,526

676

3.3%

Personal (Argentina)

18,839

18,152

687

3.8%

Núcleo (Paraguay) -including Wimax customers-

2,363

2,374

(11)

-0.5%

Broadband accesses in Argentina (in thousand)

4,073

4,114

(41)

-1.0%

Pay TV Suscribers (in thousand)

3,495

3,475

0.6%

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

487.3

466.4

20.9

4.5%

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

352.0

334.9

17.1

5.1%

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

1,107.5

1,212.6

(105.1)

-8.7%

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

1,250.6

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