Telecom Argentina S.A. - TEO STOCK NEWS

Telecom Argentina reported a significant net loss of P$205,640 million for FY22, a sharp decline from a net income of P$19,362 million in FY21. The loss was largely attributed to a goodwill impairment of P$243.9 billion. Consolidated revenues decreased by 12.0% to P$729,182 million, with service revenues down 11.7%. Operating income fell 22.5%, and the operating margin was 27.5%. The company's net financial debt decreased by 8.7% to P$420,446 million, while investments dropped 27.1%. Mobile clients rose to 20.2 million, but broadband accesses and cable TV subscribers declined.

Telecom Argentina reported a net loss of P$163,498 million for the first nine months of 2022, significantly down from a profit of P$1,876 million in 2021. Consolidated revenues decreased by 12.2% to P$470,960 million, with service revenues at P$440,369 million.

Key metrics included a decrease in operating income before D&A by 22.6% and a goodwill impairment of P$207,940 million due to market conditions.

Mobile clients increased by 0.5 million, while broadband accesses fell by 30,000. Investments totaled P$85,664 million, equating to 18.2% of consolidated revenues.

Telecom Argentina reported a net income of P$31,879 million for 1H22, a significant recovery from a net loss of P$2,742 million in 1H21. However, consolidated revenues dropped by 10.4% to P$264,577 million, attributed to high inflation. Service revenues also decreased by 9.7% to P$247,527 million. Mobile customers grew to 20.1 million, while cable TV subscribers fell to 3.5 million. Operating income before depreciation decreased by 19.5%. Investments in the period reached P$45,219 million, accounting for 17.1% of revenues. Net financial debt slightly increased by 0.5% to P$312,116 million.

Telecom Argentina (NYSE: TEO) reported a significant net income of P$23,745 million for Q1 2022, marking a 69.9% increase year-over-year. However, consolidated revenues dropped to P$117,372 million, an 8.3% decrease in constant currency compared to Q1 2021. Service revenues also fell by 8.6%, totaling P$109,378 million. Despite a rise in the number of mobile clients and broadband accesses, operating income before depreciation dropped by 12.7% to P$40,691 million. The company’s net financial debt decreased by 12.4%, reaching P$251,888 million, as investments declined by 38% to P$18,783 million.

Cablevisión Holding S.A. (BCBA:CVH; LSE:CVH), the controlling shareholder of Telecom Argentina S.A. (NYSE:TEO), reported its 2021 financial results showing a 6.5% decline in total revenues to Ps. 425,493 million compared to 2020. The decrease is attributed mainly to lower earnings from fixed telephony, mobile, cable TV, and internet services, with inflation rising 50.9% over the same period. EBITDA fell 14.5% to Ps. 132,482 million, resulting in a lower EBITDA margin of 31.1%. Consolidated net income was Ps. 10,252 million, showing a significant improvement from a loss in the previous year.

Telecom Argentina reported a net income of P$9,940 million for FY21, recovering from a loss of P$8,626 million in FY20. Consolidated revenues were P$425,493 million, down 6.5% year-over-year, with service revenues at P$395,697 million (-7.7%). Mobile users increased by 1.7 million to 20.1 million, while broadband accesses rose by 89,000 to 4.2 million. However, operating income fell 14.5% to P$132,767 million. The company reduced net financial debt by 11.2% to P$236,286 million, emphasizing operational resilience amidst inflationary pressures.

Telecom Argentina (NYSE: TEO) reported a net income of P$1,025 million for the nine months ended September 30, 2021. Service revenues decreased by 9.4% in constant currency, totaling P$272,173 million. Operating income plummeted 96% year-over-year to P$1,185 million, while net financial debt decreased 6.8% to P$223,416 million. Mobile clients reached 19.5 million, and broadband accesses were nearly 4.2 million. Despite these challenges, the company aims to improve financial inclusion through its new fintech service, Personal Pay.

Telecom Argentina reported a net loss of P$1,672 million for 1H21, with consolidated revenues of P$180,018 million, a decline of 8.6% year-over-year. Service revenues decreased to P$167,085 million (-10.8% in constant currency). Operating income fell by 75.6% to P$5,305 million, while net financial debt decreased by 13.7% to P$189,342 million. Investments rose by 22.0% to P$41,705 million, representing 23.2% of revenues. Key metrics include 19.3 million mobile clients and 4.2 million broadband accesses. The company plans a shareholder meeting on August 11, 2021, regarding potential dividend distributions.

Telecom Argentina reported a strong net income of P$9,012 million for 1Q21, up 139.2% year-over-year, despite real terms service revenue declining by 9.2% to P$77,116 million amid high inflation of 42.6%. Operating income fell 34.5% to P$5,387 million, impacted by strict cost controls, while net financial gains reached P$6,771 million due to favorable FX differences. The company invested P$19,522 million, representing 23.6% of revenues, focusing on service expansion and network improvements.