Telecom Argentina posts 24% rise in Q3 revenue

1 Nov 2013

Telecom Argentina has announced its consolidated financial results for the first nine months of 2013, reporting a 23.7% increase in revenues to ARS19.8 billion (USD3.4 billion) from ARS16 billion in the year-ago period. Revenue growth was mainly driven by mobile service sales which rose 26.7% year-on-year to ARS14.7 billion, while fixed services turnover grew 15.8% from ARS4.4 billion in 9M12 to ARS5.1 billion twelve months later. Operating income before depreciation and amortisation (OIBDA) totalled ARS5.6 billion in the first nine months of 2013, up 17.5% year-on-year, while net income attributable to the company rose 22.9% from ARS1.9 billion in 9M 2012 to ARS2.3 billion in the same period of 2013. Telecom Argentina said that consolidated operating costs rose 25.3% year-on-year to ARS16.6 billion, which the company attributed to higher labour costs, costs of handsets with new features and taxes associated to revenues. Capital expenditure reached ARS2.9 billion (up 32.4% versus 9M12), of which ARS1.3 billion was allocated for fixed services and ARS1.6 billion for mobile operations.

As at 30 September 2013 the number of Telecom Personal’s domestic mobile customers stood at 19.855 million, compared to 18.909 million a year earlier, while Argentine fixed broadband customers increased 3.5% year-on-year to 1.669 million. Mobile customers of Telecom’s Paraguayan unit Nucleo rose 6.0% year-on-year to 2.407 million at the end of September 2013.