Telecom Argentina posts 23% rise in FY revenue

3 Mar 2014

Telecom Argentina has announced its consolidated financial results for the year ended 31 December 2013, reporting a 23% year-on-year increase in revenues to ARS27.287 billion (USD3.4 billion), mainly driven by mobile and fixed services sales. Net income attributable to the company rose 19% during 2013 to ARS3.202 billion, while capital investments totalled ARS4.851 billion, an increase of 49% versus 2012. CAPEX in 4Q13 was up by 83% year-on-year and was focussed on the development of the firm’s fixed and mobile access networks. Telecom Argentina said that consolidated operating costs rose 25% year-on-year to ARS22.832 billion, attributed to higher labour costs (27%), costs of handsets with new features (52%) and taxes associated to revenues (+33%).

As at 31 December 2013 Telecom Argentina’s customer base stood at 28.3 million, including 20.1 million domestic mobile subscribers. Argentine fixed broadband accesses rose 4.8% to 1.7 million and fixed telephony lines in service were relatively stable at 4.1 million. Mobile customers of Telecom’s Paraguayan unit Nucleo rose 5.2% year-on-year to 2.4 million at the end of December 2013.