$TEO

TELECOM ARGENTINA SA

CIK:0000932470|SEC Filings

CONSOLIDATED INCOME STATEMENTS - ARS ($) $ in Millions	12 Months Ended
CONSOLIDATED INCOME STATEMENTS - ARS ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
CONSOLIDATED INCOME STATEMENTS
Revenues	$ 8,328,814	$ 5,442,958	$ 5,898,611
Employee benefit expenses and severance payments	(1,961,097)	(1,346,737)	(1,473,756)
Interconnection and transmission costs	(243,797)	(155,918)	(174,151)
Fees for services, maintenance, materials and supplies	(1,064,393)	(724,120)	(741,134)
Taxes and fees with the Regulatory Authority	(720,488)	(428,352)	(453,157)
Commissions and advertising	(437,205)	(305,491)	(345,483)
Cost of equipment and handsets	(288,668)	(259,216)	(318,199)
Programming and content costs	(450,698)	(314,423)	(332,792)
Bad debt expenses	(143,722)	(112,102)	(127,913)
Other operating expenses, net	(493,211)	(264,218)	(272,257)
Depreciation, amortization and impairment of Fixed and intangible assets	(2,075,488)	(1,725,057)	(2,018,038)
Operating income (loss)	450,047	(192,676)	(358,269)
Losses from associates and joint ventures	(3,742)	(15,094)	(5,408)
Financial results from borrowings	(748,840)	1,914,786	(1,817,071)
Other financial results, net	110,799	190,451	496,492
Income (loss) before income tax	(191,736)	1,897,467	(1,684,256)
Income tax benefit (expense)	46,432	(538,237)	968,990
Net income (loss) for the year	(145,304)	1,359,230	(715,266)
Attributable to:
Controlling Company	(170,006)	1,331,805	(738,306)
Non-controlling interest	$ 24,702	$ 27,425	$ 23,040
Earnings (losses) per share for income attributable to the Controlling Company
Basic earnings (losses) per share	$ (78.94)	$ 618.38	$ (342.81)
Diluted earnings (losses) per share	$ (78.94)	$ 618.38	$ (342.81)

CONSOLIDATED STATEMENTS OF CASH FLOWS - ARS ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES
Net income (loss) for the year	$ (145,304)	$ 1,359,230	$ (715,266)
Adjustments to reconcile net income to net cash flows provided by operating activities
Allowances deducted from assets	160,105	99,860	113,817
Depreciation of PP&E	1,533,091	1,312,898	1,559,899
Amortization of intangible assets	234,722	152,940	251,826
Amortization of rights of use assets	278,639	260,674	205,413
Depreciation of Investment properties	2,028
Impairment of goodwill	15,941
Disposals of Fixed and intangible assets	147,293	2,217	1,454
Losses from associates and joint ventures	3,742	15,094	5,408
Financial results and others	624,547	(2,418,267)	803,367
Income tax expenses	(46,432)	538,237	(968,990)
Income tax paid	(15,012)	(9,703)	(14,670)
Change in operating assets and liabilities, net of effects from purchase of controlled entity
Increase Trade receivables	(224,666)	(343,132)	(509,799)
Decrease / (Increase) Other receivables	(15,709)	(106,937)	(257,366)
Decrease / (Increase) Inventories	71,370	(8,403)	(59,785)
(Decrease) / Increase Trade payables	(17,962)	27,494	968,990
Increase Salaries and social security payables	62,144	109,976	207,576
(Decrease) / Increase Other taxes payables	(250,817)	85,071	125,970
(Decrease) / Increase Other Liabilities and Provisions	(31,862)	(9,736)	51,647
Total cash flows from operating activities	2,385,858	1,067,513	1,769,491
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES
Payments for PP&E	(1,355,061)	(457,953)	(756,094)
Payments for intangible asset acquisitions	(135,574)	(60,623)	(571,697)
Dividends received from associates	7	1,333	3,449
Proceeds from the sale of PP&E and intangible assets	37,202	7,777	3,308
Payments for acquisition of subsidiary, net of cash acquired	(1,304,037)	(18,237)	(6,466)
Integration of contributions in joint ventures	(220)
Compensation received for acquisition of companies	1,720	4,208
Proceeds from DFI liquidations	33,850	5,186	69,087
Proceeds from sale of investments not considered as cash and cash equivalents	442,802	438,002	400,610
Payments for investments not considered as cash and cash equivalents	(732,319)	(424,073)	(766,727)
Acquisition of purchase option			(7,150)
Total cash flows used in investing activities	(3,011,630)	(504,380)	(1,631,680)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES
Proceeds from borrowings	3,959,692	1,573,995	1,111,970
Payment of borrowings	(2,583,267)	(1,474,844)	(654,722)
Repurchase of Notes	(15,011)	(34,913)
Payment of interests, DFI and related expenses	(514,351)	(428,014)	(592,904)
Payments of leases liabilities	(196,180)	(121,016)	(126,595)
Transaction with non-controlling interests		(36,164)	(1,690)
Dividends paid to non-controlling interests in subsidiaries	(17,640)	(12,634)	(11,516)
Dividends paid	(20,286)
Total cash flows from (used in) financing activities	612,957	(533,590)	(275,457)
NET INCREASE IN CASH AND CASH EQUIVALENTS	(12,815)	29,543	(137,646)
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR	418,745	457,698	357,294
NET FOREIGN EXCHANGE DIFFERENCES AND RECPAM ON CASH AND CASH EQUIVALENTS	63,120	(68,496)	238,050
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR	$ 469,050	$ 418,745	$ 457,698

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - ARS ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Current Assets
Cash and cash equivalents	$ 469,050	$ 418,745
Investments	323,064	44,179
Trade receivables	799,188	389,375
Other receivables	159,969	58,875
Inventories	79,530	79,513
Assets classified as held for sale	3,011	2,322
Total current assets	1,833,812	993,009
Non-Current Assets
Trade receivables	940	568
Other receivables	28,870	64,417
Deferred income tax assets	48,434	43,398
Investments	14,701	17,902
Goodwill	4,443,998	4,436,736
PP&E	6,789,118	5,696,731
Intangible assets	2,671,525	2,494,659
Right of use assets	727,288	646,324
Investment properties	63,866
Total non-current assets	14,788,740	13,400,735
TOTAL ASSETS	16,622,552	14,393,744
Current Liabilities
Trade payables	1,108,820	584,980
Borrowings	1,616,544	1,411,178
Salaries and social security payables	435,044	297,645
Income tax liabilities	66,741	5,999
Other taxes payables	243,086	119,264
Dividends payables	87	902
Leases liabilities	149,030	98,045
Other liabilities	85,165	53,144
Provisions	133,783	5,109
Total current liabilities	3,838,300	2,576,266
Non-Current Liabilities
Trade payables	20,314	21,674
Borrowings	3,820,071	2,374,802
Salaries and social security payables	59,034	12,455
Deferred income tax liabilities	1,179,974	1,855,808
Other taxes payables		3
Leases liabilities	239,266	182,123
Other liabilities	52,983	20,162
Provisions	429,302	69,524
Total non-current liabilities	5,800,944	4,536,551
TOTAL LIABILITIES	9,639,244	7,112,817
EQUITY
Equity attributable to Controlling Company	6,863,861	7,136,514
Equity attributable to non-controlling interest	119,447	144,413
TOTAL EQUITY(See Consolidated Statements of Changes in Equity)	6,983,308	7,280,927
TOTAL LIABILITIES AND EQUITY	$ 16,622,552	$ 14,393,744