TCMFF · Telecom Argentina S.A.

Telecom Argentina S.A. reported strong financial results for the first quarter of 2026, with net income attributable to the controlling company reaching 636,682 million Argentine pesos, a significant increase from 118,100 million in the same period of 2025. Revenues grew to 2,357,686 million ARS from 1,806,103 million ARS, driven by higher service revenues. Operating income improved to 295,758 million ARS from 148,384 million ARS, reflecting effective cost management despite inflationary pressures. The company benefited from a substantial increase in financial results from borrowings, which rose to 578,726 million ARS from 113,556 million ARS, likely due to inflation-linked gains. Total assets increased slightly to 18,275,230 million ARS, while total liabilities decreased to 10,056,632 million ARS from 10,549,402 million ARS at year-end 2025. The balance sheet remains solid with equity of 8,218,598 million ARS. The results demonstrate Telecom Argentina's ability to navigate the challenging Argentine economic environment and deliver strong profitability.