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Freitag, 14.08.2020 20:37 von

Telecom Argentina S.A. announces consolidated results for the six month period ("1H20") and second quarter of fiscal year 2020 ("2Q20")

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

PR Newswire

BUENOS AIRES, Aug. 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 1H20 include the effects of the adoption of inflationary accounting in accordance with IAS 29. Finally, comments related to variations of results of 1H20 and vs. 1H19 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 June 2019 contain the effect of year over year inflation as of June 2020, which amounted to 42.8%.
  • Consolidated Revenues of Telecom Argentina amounted to P$131,158 million in 1H20, from which Service Revenues totaled P$124,658 million (-1.4% in real terms vs. 1H19). Services Revenues in 2Q20 totaled P$61,898 million (+0.5% vs. 2Q19).
  • Mobile clients in Argentina have reached 18.8 million in 1H20 (-35 thousand vs. 1Q20). In turn, cable TV subscribers totaled approximately 3.5 million (+21 thousand vs. 1Q20), while broadband accesses amounted to almost 4.1 million (+21 thousand vs. 1Q20). Therefore, our client base remained relatively stable for all products when compared to the previous quarter's.
  • Operating Income before Depreciation and Amortization amounted to P$47,852 million (+5.3% vs. 1H19) in 1H20. Operating Income totaled P$ 14,491 million (+8.5% vs. 1H19).
  • The Company registered a Net Income of P$1,961 million in 1H20 (-79.6% vs. 1H19). The decrease in Net Income mainly reflects the impact of FX losses in a context of greater devaluation in real terms, partially offset by the growth in Operating Income before D&A.
  • Investments (including rights of use assets) reached P$22,766 million in 1H20, equivalent to 17.4% of Consolidated Revenues.
  • Net Financial Debt amounted to P$131,032 million in 1H20, (+21.9% in real terms vs. 1H19).


IAS 29



IAS 29





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


As of June, 30



As of June, 30


Δ $

Kurse


Δ %


2020



2019



Consolidated Revenues


131,158



135,272


(4,114)


-3.0%

Operating Income before D&A 


47,852



45,453


2,399


5.3%

Operating Income


14,491



13,361


1,130


8.5%

Net income before income tax expense


5,252



20,487


(15,235)


-74.4%

Net Income attributable to Controlling Company


1,744



9,422


(7,678)


-81.5%

Shareholders' equity attributable to Controlling Company


347,432



391,553


(44,121)


-11.3%

Net Financial Debt


(131,032)



(107,452)


(23,580)


21.9%

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


22,766



34,433


(11,667)


-33.9%











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


2,998



3,371


(373)


-11.1%

Mobile customers (in thousand)


21,049



20,760


289


1.4%

            Personal (Argentina)


18,804



18,408


396


2.2%

            Núcleo (Paraguay) -including Wimax customers-


2,245



2,352


(107)


-4.5%

Broadband accesses in Argentina (in thousand)


4,095



4,132


(37)


-0.9%

Pay TV Suscribers (in thousand)


3,500



3,485


15


0.4%











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


519.4



487.9


31.5


6.5%

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


375.5



351.4


24.1


6.9%

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


1,160.9



1,235.4


(74.5)


-6.0%

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


1,255.3



1,367.2

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