TELECOM ARGENTINA S.A. TELECOM ARGENTINA S.A.
Unaudited Condensed Consolidated Financial Statements as of March 31, 2023
General Hornos 690
- Ciudad Autónoma de Buenos Aires Argentina
$: Argentine peso
US$: US dollar
$209.01 = US$1 as of March 31, 2023
TELECOM ARGENTINA S.A.
UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS AS OF MARCH 31, 2023 AND 2022
INDEX
Glossary of terms
Unaudited consolidated financial statementsUnaudited consolidated statements of financial position Unaudited consolidated income statements
Unaudited consolidated statements of comprehensive income Unaudited consolidated statements of changes in equity Unaudited consolidated statements of cash flows
Notes to the unaudited consolidated financial statements Operating and Financial Review and Prospects
Corporate information
TELECOM ARGENTINA S.A.
Glossary of terms
The following explanations are not technical definitions, but to assist the general reader to understand certain terms as used in these unaudited consolidated financial statements.
ADS: Telecom Argentina's American Depositary Share, listed on the New York Stock Exchange, each representing five Class B Shares.
ADR: American Depositary Receipt
BYMA (Bolsas y Mercados Argentinos): Buenos Aires Stock Exchange.
CAPEX: Capital expenditures.
CNV (Comisión Nacional de Valores): The Argentine National Securities Commission.
Company/Telecom Argentina: Telecom Argentina S.A.
CPCECABA (Consejo Profesional de Ciencias Económicas de la Ciudad Autónoma de Buenos Aires): The Professional Council of Economic Sciences of the City of Buenos Aires.
CVH: Cablevisión Holding S.A., controlling company of Telecom since January 1, 2018.
DFI: Derivate Financial Instrument
FACPCE (Federación Argentina de Consejos Profesionales en Ciencias Económicas): Argentine Federation of Professional Councils of Economic Sciences.
Fintech: Fintech Telecom LCC, a Telecom shareholder.
fintech: Financial technology services.
Fixed assets: Includes PP&E, Intangible assets, Goodwill and Rights of use assets.
IAS: International Accounting Standards.
IASB: International Accounting Standards Board.
ICT Services (Information and Communication Technology services): Services to transport and distribute signals or data, such as voice, text, video and images, provided or requested by third-party users, through telecommunications networks.
IFRS: International Financial Reporting Standards, as issued by the International Accounting Standards Board.
INDEC (Instituto Nacional de estadísticas y censos): The National Institute of statistics and cense.
La Capital Cable/Ver TV/TSMA: Names corresponding to limited companies La Capital Cable S.A., Ver T.V. S.A. and Teledifusora San Miguel Arcángel S.A., respectively, companies that are directly or indirectly associates according to the definition of the General Corporations Law.
LAD (Ley Argentina Digital): Argentine Digital Law No. 27,078.
LGS (Ley de General de Sociedades): Argentine Corporations Law No. 19,550 as amended. Since the enforcement of the new Civil and Commercial Code its name was changed to "General Corporations Law".
Micro Sistemas/Pem/Cable Imagen/AVC Continente Audiovisual/Inter Radios/Personal Smarthome/Personal Security/NYSSA: Names corresponding to limited companies or limited responsibility companies that are directly or indirectly controlled according to the definition of the General Corporations Law, or were controlled by the Company, directly or indirectly: Micro Sistemas S.A.U., Pem S.A.U., Cable Imagen S.R.L., AVC Continente Audiovisual S.A., Inter Radios S.A.U., Personal Smarthome S.A., Personal Smart Security S.A.U., Negocios y Servicios S.A.U.
NYSE: New York Stock Exchange.
PEN (Poder Ejecutivo Nacional): The executive branch of the Argentine government.
PP&E: Properties, plant and equipment.
RECPAM (Resultado por exposición a los cambios en el poder adquisitivo de la moneda): Inflation Adjustment Gain (Loss).
RMB: Official currency of Popular Republic of China.
RT: Technical resolutions issued by the FACPCE.
RT 26: Technical resolution No, 26 issued by the FACPCE, amended by RT29 and RT43.
Telecom: Telecom Argentina and its consolidated subsidiaries.
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TELECOM ARGENTINA S.A.
Telecom USA/Núcleo/Personal Envíos/Tuves Paraguay/Televisión Dirigida/Adesol/Opalker: Names corresponding to foreign companies Telecom Argentina USA, Inc., Núcleo S.A.E, Personal Envíos S.A., Tuves Paraguay S.A., Televisión Dirigida S.A., Adesol S.A. and Opalker S.A., respectively, companies that are directly or indirectly controlled according to the definition of the General Corporations Law.
USA: United States of America
VLG: VLG S.A.U. (formerly VLG Argentina LLC), a company that is a shareholder of the Company and controlled by CVH.
In these unaudited consolidated financial statements, unless otherwise stated, $ amounts are stated in millions.
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TELECOM ARGENTINA S.A.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(In millions of Argentine pesos in current currency - Note 1.d)
March 31, | December 31, | ||
ASSETS | Note | 2023 | 2022 |
Current Assets | |||
Cash and cash equivalents | 2 | 41,594 | 48,756 |
Investments | 2 | 50,131 | 10,193 |
Trade receivables | 3 | 48,122 | 45,791 |
Other receivables | 4 | 25,442 | 23,783 |
Inventories | 5 | 8,667 | 7,849 |
Assets classified as held for sale | 1,149 | 1,161 | |
Total current assets | 175,105 | 137,533 | |
Non-Current Assets | |||
Trade receivables | 3 | 143 | 144 |
Other receivables | 4 | 1,886 | 2,031 |
Deferred income tax assets | 13 | 3,125 | 3,009 |
Investments | 2 | 8,139 | 7,844 |
Goodwill | 6 | 602,273 | 602,280 |
PP&E | 7 | 936,405 | 965,087 |
Intangible assets | 8 | 302,592 | 310,183 |
Right of use assets | 9 | 79,503 | 76,609 |
Total non-current assets | 1,934,066 | 1,967,187 | |
TOTAL ASSETS | 2,109,171 | 2,104,720 | |
LIABILITIES | |||
Current Liabilities | |||
Trade payables | 10 | 107,124 | 108,655 |
Borrowings | 11 | 180,802 | 163,561 |
Salaries and social security payables | 12 | 37,733 | 45,835 |
Income tax payables | 13 | 417 | 382 |
Other taxes payables | 14 | 13,828 | 12,089 |
Leases liabilities | 15 | 11,267 | 11,202 |
Other liabilities | 16 | 5,474 | 6,038 |
Provisions | 17 | 3,268 | 3,206 |
Total current liabilities | 359,913 | 350,968 | |
Non-Current Liabilities | |||
Trade payables | 10 | 365 | 388 |
Borrowings | 11 | 389,068 | 407,594 |
Salaries and social security payables | 12 | 3,106 | 3,344 |
Deferred income tax liabilities | 13 | 300,091 | 311,894 |
Other taxes payables | 14 | 31 | 54 |
Leases liabilities | 15 | 24,393 | 23,975 |
Other liabilities | 16 | 2,697 | 3,177 |
Provisions | 17 | 12,783 | 14,187 |
Total non-current liabilities | 732,534 | 764,613 | |
TOTAL LIABILITIES | 1,092,447 | 1,115,581 | |
EQUITY | |||
Equity attributable to Controlling Company | 996,389 | 969,405 | |
Equity attributable to non-controlling interest | 20,335 | 19,734 | |
TOTAL EQUITY(See Consolidated Statements of | 1,016,724 | 989,139 | |
Changes in Equity) | |||
TOTAL LIABILITIES AND EQUITY | 2,109,171 | 2,104,720 |
The accompanying notes are an integral part of these unaudited consolidated financial statements.
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Telecom Argentina SA published this content on 11 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2023 22:10:52 UTC.
