TELECOM ARGENTINA S.A.
TELECOM ARGENTINA S.A.
Unaudited Condensed Consolidated Financial Statements as of June 30, 2022
General Hornos 690
- Ciudad Autónoma de Buenos Aires Argentina
$: Argentine peso
US$: US dollar
$125.23= US$1 as of June 30, 2022
TELECOM ARGENTINA S.A.
UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2022 AND 2021
INDEX
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.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(In millions of Argentine pesos in current currency - Note 1.d)
June 30, | December 31, | ||
ASSETS | Note | 2022 | 2021 |
Current Assets | |||
Cash and cash equivalents | 2 | 21,515 | 27,025 |
Investments | 2 | 4,802 | 14,685 |
Trade receivables | 3 | 26,788 | 30,707 |
Other receivables | 4 | 13,126 | 12,043 |
Inventories | 5 | 4,822 | 4,242 |
Assets classified as held for sale | 27.3 | 657 | - |
Total current assets | 71,710 | 88,702 | |
Non-Current Assets | |||
Trade receivables | 3 | 92 | 99 |
Other receivables | 4 | 2,110 | 2,839 |
Deferred income tax assets | 13 | 1,057 | 896 |
Investments | 2 | 4,364 | 4,392 |
Goodwill | 6 | 516,657 | 516,150 |
Property, plant and equipment | 7 | 576,367 | 614,282 |
Intangible assets | 8 | 186,026 | 196,215 |
Right of use assets | 9 | 44,208 | 45,496 |
Total non-current assets | 1,330,881 | 1,380,369 | |
TOTAL ASSETS | 1,402,591 | 1,469,071 | |
LIABILITIES | |||
Current Liabilities | |||
Trade payables | 10 | 57,435 | 67,029 |
Financial debt | 11 | 92,751 | 88,320 |
Salaries and social security payables | 12 | 22,821 | 30,312 |
Income tax payables | 13 | 23,492 | 18,962 |
Other taxes payables | 14 | 5,541 | 5,395 |
Dividends payables | 2 | 435 | - |
Leases liabilities | 15 | 8,043 | 8,346 |
Other liabilities | 16 | 3,907 | 4,160 |
Provisions | 17 | 2,148 | 2,922 |
Total current liabilities | 216,573 | 225,446 | |
Non-Current Liabilities | |||
Trade payables | 10 | 657 | 1,493 |
Financial debt | 11 | 245,698 | 275,097 |
Salaries and social security payables | 12 | 2,060 | 2,104 |
Deferred income tax liabilities | 13 | 163,962 | 184,121 |
Other taxes payables | 14 | 21 | - |
Leases liabilities | 15 | 14,586 | 17,409 |
Other liabilities | 16 | 2,146 | 1,704 |
Provisions | 17 | 11,591 | 13,035 |
Total non-current liabilities | 440,721 | 494,963 | |
TOTAL LIABILITIES | 657,294 | 720,409 | |
EQUITY | |||
Equity attributable to Controlling Company | 734,470 | 736,992 | |
Equity attributable to non-controlling interest | 10,827 | 11,670 | |
TOTAL EQUITY(See Consolidated Statements of | 745,297 | 748,662 | |
Changes in Equity) | |||
TOTAL LIABILITIES AND EQUITY | 1,402,591 | 1,469,071 |
The accompanying notes are an integral part of these unaudited consolidated financial statements.
F-1
TELECOM ARGENTINA S.A.
CONSOLIDATED INCOME STATEMENTS
(In millions of Argentine pesos in current currency, except per share data in Argentine pesos in current currency - Note 1.d)
Three-month period | Six-month period | |||||||||
ended June 30, | ended June 30, | |||||||||
Note | 2022 | 2021 | 2022 | 2021 | ||||||
Revenues | 21 | 126,897 | 145,009 | 264,577 | 295,198 | |||||
Employee benefit expenses and severance payments | 22 | (32,111) | (29,834) | (60,519) | (57,727) | |||||
Interconnection and transmission costs | (3,910) | (5,088) | (8,118) | (10,898) | ||||||
Fees for services, maintenance, materials and supplies | 22 | (16,011) | (16,677) | (30,711) | (33,625) | |||||
Taxes and fees with the Regulatory Authority | 22 | (9,842) | (11,173) | (20,370) | (22,854) | |||||
Commissions and advertising | (7,228) | (8,507) | (14,765) | (16,480) | ||||||
Cost of equipment and handsets | 22 | (5,405) | (8,003) | (12,456) | (15,121) | |||||
Programming and content costs | (7,925) | (9,510) | (16,719) | (20,577) | ||||||
Bad debt expenses | 3 | (2,702) | (3,219) | (6,454) | (5,105) | |||||
Other operating expenses | 22 | (8,649) | (7,218) | (13,619) | (12,366) | |||||
Depreciation, amortization and impairment of fixed assets | 22 | (43,124) | (46,884) | (89,381) | (91,747) | |||||
Operating (loss) income | (10,010) | (1,104) | (8,535) | 8,698 | ||||||
Earnings from associates | 2 | 3 | 40 | 144 | 189 | |||||
Debt financial results | 23 | 7,977 | 14,078 | 24,989 | 19,916 | |||||
Other financial results, net | 23 | 4,509 | 4,088 | 13,702 | 10,569 | |||||
Income before income tax expense | 2,479 | 17,102 | 30,300 | 39,372 | ||||||
Income tax | 13 | 1,547 | (36,240) | 1,579 | (42,114) | |||||
Net income (loss) for the period | 4,026 | (19,138) | 31,879 | (2,742) | ||||||
Attributable to: | ||||||||||
Controlling Company | 3,664 | (19,192) | 31,260 | (3,288) | ||||||
Non-controlling interest | 362 | 54 | 619 | 546 | ||||||
4,026 | (19,138) | 31,879 | (2,742) | |||||||
Earnings (losses) per share attributable to Controlling | ||||||||||
Company - Basic and diluted | 1.c | 1.70 | (8.91) | 14.51 | (1.53) |
The accompanying notes are an integral part of these unaudited consolidated financial statements.
See Note 22 for additional information on operating expenses per function.
F-2
TELECOM ARGENTINA S.A.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In millions of Argentine pesos in current currency - Note 1.d)
Net income (loss) for the period
Other comprehensive income - Will be reclassified subsequently to profit or loss
Currency translation adjustments (no effect on Income Tax)
DFI effects classified as hedges
Income Tax effects on DFI classified as hedges and others
Three-month period
ended June 30,
2022 2021
4,026 | (19,138) | |
- (3,725)
- 120
- (24)
Six-month period ended June 30,
2022 2021
31,879 (2,742)
(2,791) (3,683)
99 233
(29) | (80) |
Other comprehensive loss, net of tax | (793) | (3,629) | ||||
Total comprehensive income (loss) for the period | 3,233 | (22,767) | ||||
Attributable to: | ||||||
Controlling Company | ||||||
3,017 | (21,962) | |||||
Non-controlling interest | 216 | (805) | ||||
3,233 | (22,767) | |||||
(2,721) | (3,530) |
29,158 (6,272)
29,112 (6,008)
46 (264)
29,158 (6,272)
The accompanying notes are an integral part of these unaudited consolidated financial statements.
F-3
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Telecom Argentina SA published this content on 11 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2022 17:56:04 UTC.