Q2 2024 Telecom Argentina SA Earnings Call Transcript
Key Points
- Telecom Argentina SA (TEO) achieved an EBITDA margin of 29.7% for the first six months of 2024, indicating effective cost management and pricing strategy.
- The company reported a net income profit of ARS859 billion, largely due to real exchange differences gains.
- Mobile subscriber base grew by over 3% year over year, with data usage per user increasing by 18%.
- Telecom Argentina SA (TEO) successfully returned to international debt capital markets with a $500 million notes issuance due 2031, receiving strong investor support.
- The fintech business, Personal Pay, has grown significantly, reaching almost 3 million onboarded clients and becoming the second most important player in terms of clients' account balances.
- Revenues measured in constant pesos decreased by 13% year over year, despite a nominal increase of 229%.
- The company faced a challenging macroeconomic environment with high inflation rates, impacting financial performance.
- Fixed voice segment continued to see a reduction in accesses, particularly in the traditional fixed copper network.
- Telecom Argentina SA (TEO) had to perform retention actions such as discounts and promotions to maintain its subscriber base amidst price adjustments.
- The company's net debt-to-EBITDA ratio increased temporarily due to the December 2023 devaluation, although it has since stabilized.
Good morning. On behalf of Telecom Argentina, I would like to thank everybody for participating of this conference call. The participants of today's conference call are Roberto Nobile, Chief Executive Officer; Gabriel Blasi, Chief Financial Officer; and myself, Luis Rial Ubago, Manager of Investor Relations.
The purpose of this call is to share with you the results of the six-month period and second quarter ended on June 30, 2024. If you have not received our press release or presentation, you can call our Investor Relations office to request the documents or download them from the Investor Relation section of our website located at inversores.telecom.com.ar.
I would like to go over some Safe Harbor information and other details of the call. We would like to clarify that during the conference call and Q&A session, we could mention certain forward-looking statements about Telecom's future performance, plans, strategies, and objectives. Such statements are subject to uncertainties that could cause Telecom's actual results
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