Telecom Argentina S.A. (TEO)

Telecom Argentina Income Statement

Financials in millions ARS. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	1,726,348	2,059,101	2,270,728	2,581,043	886,765	487,067
Revenue Growth (YoY)	-60.16%	-9.32%	-12.02%	191.06%	82.06%	38.39%
Cost of Revenue	468,550	546,760	595,387	695,183	222,186	129,271
Gross Profit	1,257,798	1,512,341	1,675,341	1,885,860	664,579	357,796
Selling, General & Admin	526,628	636,920	707,633	706,325	223,351	125,645
Other Operating Expenses	222,410	231,675	250,826	279,211	107,636	58,097
Operating Expenses	1,336,006	1,617,394	1,791,561	1,848,444	604,497	317,427
Operating Income	-78,208	-105,053	-116,220	37,416	60,082	40,369
Interest Expense	-55,158	-58,478	-46,559	-103,213	-44,383	-22,080
Interest & Investment Income	10,812	15,430	6,026	-	-	3,175
Earnings From Equity Investments	-6,432	-1,888	2,550	2,398	1,459	-385
Currency Exchange Gain (Loss)	947,116	-684,612	134,026	325,987	-5,733	2,849
Other Non Operating Income (Expenses)	-127,259	205,001	140,399	59,937	6,310	10,464
EBT Excluding Unusual Items	690,871	-629,600	120,222	322,525	17,735	34,392
Impairment of Goodwill	-	-	-759,722	-4,045	-	-
Gain (Loss) on Sale of Investments	59,625	64,323	-39,496	8,614	2,749	-5,353
Asset Writedown	473	-314	-6,761	-3,743	-1,106	-5,269
Legal Settlements	3,152	-21,554	-37,033	-47,898	-	-2,643
Other Unusual Items	3,193	-799	-125	-13,054	-10,125	-
Pretax Income	757,314	-587,944	-722,915	262,399	9,253	21,127
Income Tax Expense	318,246	-338,257	-82,536	202,105	24,260	29,116
Earnings From Continuing Operations	439,068	-249,687	-640,379	60,294	-15,007	-7,989
Minority Interest in Earnings	-9,389	-8,043	-6,829	-7,735	-1,796	-1,045
Net Income	429,679	-257,730	-647,208	52,559	-16,803	-9,034
Net Income to Common	429,679	-257,730	-647,208	52,559	-16,803	-9,034
Shares Outstanding (Basic)	2,154	2,154	2,154	2,154	2,154	2,154
Shares Outstanding (Diluted)	2,154	2,154	2,154	2,154	2,154	2,154
EPS (Basic)	199.51	-119.67	-300.51	24.40	-7.80	-4.19
EPS (Diluted)	199.51	-119.67	-300.51	24.40	-7.80	-4.19
Free Cash Flow	51,205	353,759	301,345	342,421	140,143	67,321
Free Cash Flow Per Share	23.78	164.26	139.92	158.99	65.07	31.26
Gross Margin	72.86%	73.45%	73.78%	73.07%	74.94%	73.46%
Operating Margin	-4.53%	-5.10%	-5.12%	1.45%	6.78%	8.29%
Profit Margin	24.89%	-12.52%	-28.50%	2.04%	-1.89%	-1.85%
Free Cash Flow Margin	2.97%	17.18%	13.27%	13.27%	15.80%	13.82%
EBITDA	363,452	518,580	578,957	789,239	284,564	153,895
EBITDA Margin	21.05%	25.18%	25.50%	30.58%	32.09%	31.60%
D&A For EBITDA	441,660	623,633	695,177	751,823	224,482	113,526
EBIT	-78,208	-105,053	-116,220	37,416	60,082	40,369
EBIT Margin	-4.53%	-5.10%	-5.12%	1.45%	6.78%	8.29%
Effective Tax Rate	42.02%	-	-	77.02%	262.19%	137.81%

Source: S&P Capital IQ. Standard template. Financial Sources.