Telecom preliminary 2012 results show 20% rise in revenue

6 Feb 2013

Telecom Argentina has reported its preliminary unaudited financial results for the twelve months ended 31 December 2012, which indicate a 19.6% increase in consolidated revenues to ARS22.117 billion (USD4.4 billion) from ARS18.498 billion in 2011. Operating income before depreciation and amortisation (OIBDA) totalled ARS6.57 billion in 2012, up 9.6% from ARS5.993 billion twelve months earlier. Telecom Argentina noted that the figure was affected by a one-time charge of ARS90 million that impacted in 2012 and relates to incurred and provisioned costs for the implementation of a programme to improve efficiency in the corporate structure of the company. Without this effect, the percentage increase compared to 2011 would have been 11.1%. As at 31 December 2012 the number of Telecom Personal’s domestic mobile customers stood at 18.975 million, compared to 18.193 million a year earlier, while Argentine fixed broadband customers increased 5.1% year-on-year to 1.629 million and fixed telephony lines in service dropped 0.3% from 4.141 million at the end of 2011 to 4.128 million a year later. The number of mobile customers at Telecom’s Paraguayan unit Nucleo rose 7.1% year-on-year to 2.301 million as at 31 December 2012. Telecom Argentina’s board of directors will consider the complete financial statements on 27 February 2013; the final results and general statements are subject to final year-end accounting adjustments and will consider other significant events that may occur up to the date of approval, the company noted.