The following is a summary of the Telecom Argentina S.A. (TEO) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Telecom Argentina reported Q1 2024 revenues of around $800 million, while revenues in constant pesos fell by 18% YoY due to high inflation.

• EBITDA for the quarter increased by 11% to $240 million compared to Q4 2023.

• The company maintained its EBITDA margin at 30.3% YoY and invested approximately $122 million in CapEx, or 15% of its revenues.

• Despite economic challenges, net income was a profit of ARS675 million, largely credited to real exchange difference gains.

• Notably, the financial net debt to EBITDA ratio showed significant improvement, which indicates resilient resistance to FX depreciation.

Business Progress:

• The company's mobile subscriber base grew by over 3% YoY, with average monthly gigabytes per user increasing by 21%.

• Progress in broadband has been quick, with new FTTH access contributing to an increased customer base.

• The number of unique customers for the Flow platform rose by 12% YoY to nearly 1.5 million.

• With 2.5 million onboarded clients, the company's digital wallet, Personal Pay, has emerged as a strong player in the FinTech market.

• The company focused its CapEx on FTTH technology expansion, mobile network development, and 5G.

• Promisingly, the company managed to strengthen its position in the mobile, broadband and Pay TV markets in Paraguay, as well as the Pay TV market in Uruguay.

• Future revenue growth is expected to come from the B2B sector based on contracts following the FX evolution and a strong focus on developing the digital business ecosystem.

More details: Telecom Argentina IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.