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Overview of Telecom Argentina (NYSE: TEO)
Telecom Argentina S.A., a leading telecommunications company in Argentina, delivers a comprehensive suite of connectivity and digital services. Established in 1990, the company has evolved into a key provider of integrated 'quadruple-play' services, encompassing mobile telephony, fixed-line telephony, broadband internet, and cable television. Operating through its subsidiaries, Telecom Argentina also extends its reach to Paraguay, Uruguay, the United States, and Chile, offering a diverse range of services such as satellite TV, cybersecurity solutions, and IT outsourcing.
Core Services and Business Model
Telecom Argentina's primary business revolves around delivering bundled telecommunications services that cater to residential, business, and wholesale customers. Its offerings include:
- Mobile Telephony: The company provides 4G and 5G mobile services, with a robust subscriber base across Argentina and Paraguay. Mobile internet revenues constitute a significant portion of its mobile segment.
- Broadband Internet: High-speed internet services, with a focus on fiber-optic connectivity, serve millions of customers. Over 85% of its broadband subscribers enjoy speeds of 100 Mbps or higher.
- Cable Television: Through its Flow platform, Telecom Argentina offers digital and on-demand TV services, including innovative products like Flow Flex, a fully digital solution requiring no physical installation.
- Fixed-Line Telephony: Traditional and IP telephony services cater to residential and enterprise users, with a focus on data transmission and reliability.
- Fintech Services: The company's Personal Pay platform has emerged as a significant player in Argentina's fintech landscape, offering virtual wallets, prepaid cards, and other financial solutions.
Revenue generation is predominantly subscription-based, bolstered by equipment sales and value-added services like cybersecurity and IT solutions. The company's integrated approach allows it to cross-sell services effectively, enhancing customer retention and lifetime value.
Geographic Footprint
Telecom Argentina operates extensively across Latin America, with its core market in Argentina. Its services extend to:
- Paraguay: Mobile, broadband, and satellite TV services through its subsidiary Núcleo.
- Uruguay: Cable television services catering to a growing subscriber base.
- Chile: Specialized cybersecurity solutions and IT services.
- United States: Wholesale fixed-line services targeting enterprise clients.
This diversified geographic presence enables Telecom Argentina to mitigate risks associated with economic fluctuations in any single market.
Competitive Positioning
Telecom Argentina operates in a highly competitive telecommunications landscape, contending with regional and global players. Its competitive advantages include:
- Integrated Service Offerings: The 'quadruple-play' model provides seamless connectivity and entertainment solutions, creating a one-stop-shop experience for customers.
- Technological Leadership: Recognized for having the fastest mobile network in Argentina by Ookla, the company continues to invest in 5G expansion and fiber-optic infrastructure.
- Customer-Centric Innovations: Products like Flow Flex and Personal Pay demonstrate Telecom Argentina's ability to adapt to evolving consumer needs.
Despite these strengths, the company faces challenges such as intense competition, regulatory pressures, and economic instability in its core markets.
Industry Relevance and Market Significance
Telecom Argentina plays a pivotal role in the digital transformation of Latin America. By enabling high-speed connectivity and offering innovative digital solutions, the company supports economic growth, remote work, and digital inclusion. Its investments in 4G, 5G, and fiber-optic networks underscore its commitment to technological advancement and customer satisfaction.
Conclusion
Telecom Argentina's robust service portfolio, geographic diversification, and focus on innovation position it as a cornerstone of the telecommunications industry in Argentina and beyond. With a strong emphasis on customer-centric solutions and technological leadership, the company continues to shape the digital landscape of the regions it serves.
Telecom Argentina (NYSE:TEO) has announced the filing of its 2024 Form 20-F with the U.S. Securities and Exchange Commission (SEC), including audited financial statements under IFRS for the year ended December 31, 2024. The company, with a market cap of US$4,781.2 million as of February 27, 2025, has made these documents accessible through their investor relations website and the SEC webpage.
As a leading telecommunications provider in Argentina, Telecom Argentina offers comprehensive services including fixed-line telephony, cellular, data transmission, pay TV, and Internet services. The company also maintains operations in Paraguay (mobile, broadband, satellite TV) and Uruguay (pay TV). As of December 31, 2024, Telecom Argentina has 2,153,688,011 issued and outstanding shares.
Telecom Argentina (NYSE: TEO) reported its FY24 and Q4 2024 results. The company's consolidated revenues reached P$4,137,596 million in FY24, showing a 7.7% decline in constant currency compared to FY23. However, service revenues showed signs of recovery, with Q4 2024 marking the first quarter of year-over-year growth above inflation at 2.6%.
Key operational highlights include growth in mobile subscribers to 21.6 million (+621,000 vs FY23) and cable TV subscribers reaching 3.2 million (+61,000). The company reported a net income of P$1,033,252 million, primarily driven by gains from foreign exchange differences. CAPEX represented 13.8% of consolidated revenues, with total investments amounting to P$806,649 million.
Notable improvements include a 5G network expansion with 200 new sites, and 4G/LTE coverage reaching 98% of the population. The company's net financial debt decreased by 36.9% in constant currency compared to December 2023, totaling P$2,524,923 million.
Telecom Argentina reported financial results for 9M24, with consolidated revenues of P$2,852,341 million, showing a 10.4% decrease in constant currency compared to 9M23. Service revenues totaled P$2,682,307 million (-9.1% vs 9M23). The company recorded a net income of P$951,912 million, mainly due to exchange rate gains. Mobile subscribers in Argentina increased to 21.4 million (+668 thousand vs 9M23), while cable TV subscribers grew to 3.2 million. Operating margin before D,A&I remained stable at 28.8%. CAPEX represented 13.0% of revenues, with investments amounting to P$538,119 million. Net Financial Debt decreased 37.6% in constant currency to P$2,325,294 million.
Telecom Argentina (NYSE: TEO) announced its 1H24 and 2Q24 results, highlighting key financial metrics and operational performance. Consolidated Revenues for 1H24 were P$1,666,979 million, a decrease of 13.3% compared to 1H23. Service Revenues totaled P$1,572,594 million, down 11.7% year-over-year. The company noted high inflation, impacting performance.
Mobile accesses in Argentina increased to 21.2 million, while broadband and Pay TV subscribers saw slight declines. Operating Income before D, A & I margin improved to 29.7% in 1H24 and 29.1% in 2Q24.
Net income soared to P$859,223 million, driven primarily by exchange rate gains. Investments amounted to P$315,946 million, representing 19% of revenues. Net Financial Debt decreased by 34.2% in real terms to P$2,189,225 million.
Despite a challenging economic environment, there was a noted recovery trend in Service Revenues in 2Q24. The company remains focused on expanding its 4G and 5G networks and improving broadband services.
Telecom Argentina S.A. announced a Net Income of P$675,032 million for the first quarter of fiscal year 2024, with Consolidated Revenues of P$683,916 million. Despite a decrease in service revenues due to lower price increases than inflation, the subscriber base showed growth. Operating costs decreased, resulting in stable Operating Income. The Company recorded a net income increase mainly due to exchange rate gains. Investments in PP&E increased, while net financial debt decreased. Mobile services and internet revenues declined, while cable TV services saw a significant decrease. The Company faces challenges in maintaining revenues amidst intense competition in the market.
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