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08.08.2018 19:50:00

Telecom Argentina S.A. announces consolidated six month period ('1H18') and second quarter results for fiscal year 2018 ('2Q18')*

Telecom Argentina S.A. announces consolidated six month period ('1H18') and second quarter results for fiscal year 2018 ('2Q18')*PR NewswireBUENOS AIRES, Argentina, Aug. 8, 2018BUENOS AIRES, Argentina, Aug. 8, 2018 /PRNewswire/ --Note: The merger between Telecom and Cablevisión was considered an inverse acquisition under IFRS 3 (Business Combinations), with Cablevisión being the surviving entity for accounting purposes. Thus, for the purposes of preparing the consolidated financial statements of Telecom Argentina as of June 30, 2018: i) the comparative figures as of December 31, 2017 and June 30, 2017 correspond to those that arise from the consolidated financial statements of Cablevisión at their respective dates; and ii) the corresponding information for the six-month period ended June 30, 2018, incorporates on the basis of figures corresponding to Cablevisión, the effect of the application of Telecom Argentina's method of acquisition at its fair value in accordance with the IFRS 3 guidelines (see Financial Table No. 3) and the operations of Telecom Argentina as of January 1, 2018. On the other hand, in order to ease the understanding and analysis of the earnings evolution by its users, additional tables of the income statements are included, exposing on pro forma basis the comparative figures for 1H17 as if the merger between Telecom and Cablevisión had been effective during that period. The variations of results vs. 1H17 identified in this press release emanate from the comparison with the aforementioned "pro forma" information (see Financial Tables No 6, No 7, No 10, No 11, No 14 and No 15).Consolidated Revenues amounted to P$64,179 million (+29.1% vs. 1H17); of which Service Revenues reached P$59,133 million (+28.3% vs. 1H17). Considering the breakdown of Service Revenues, Mobile Services amounted P$22,398 million (+17.9% vs. 1H17); Internet Services totaled P$14,435 million (+33.2% vs. 1H17), while Cable TV Services and Fixed Telephony and Data Services amounted to P$13,872 million (+37.2% vs. 1H17) and P$8,247 million (+47.5% vs. 1H17), respectively.Mobile subscribers in Argentina: 19.1 million in 1H18, while Cable TV subscribers and Broadband accesses totaled 3.5 million and 4.1 million, respectively.Mobile Internet revenues of Personal in Argentina increased 36.3% vs. 1H17; reaching 54.7% participation in Service Revenues.Mobile ARPU of Personal in Argentina increased to P$165.0 per month in 1H18 (+21.9% vs. 1H17).Broadband ARPU reached P$585.1 per month in 1H18 (+42.0% vs. 1H17). Monthly churn stood at 1.5% in 1H18.Cable TV ARPU increased to P$653.3 per month in 1H18 (+26.3% vs. 1H17).Consolidated Operating costs -including D&A and impairment of PP&E- totaled P$50,525 million (+24.5% vs. 1H17).Operating Income before Depreciation and Amortization reached P$23,296 million (+36.6% vs. 1H17), 36.3% of consolidated revenues.Net Loss amounted to P$4,872 million in 1H18. Net Loss attributable to the Controlling Company amounted to P$4,912 million during the same period. The mentioned Net loss mainly reflects the impact of FX losses over financial results, partially offset by growth in Operating Income before D&A. Capex reached P$14,237 million in 1H18, equivalent to 22.2% of Consolidated Revenues.Net Financial Debt Position: P$48,526 million in 1H18.  (in million P$, except where noted)**As of June, 3020182017Δ $Δ %Consolidated Revenues64,17949,70514,47429.1%Operating Income before D&A  23,29617,0486,24836.6%Operating Income13,6549,1204,53449.7%Net (Loss) Income attributable to Controlling Company(4,912)5,028(9,940)-197.7%Shareholders' equity attributable to Controlling Company119,869n.a.--Net Financial Position - (Debt) / Cash(48,526)n.a.--CAPEX *14,23710,5633,67434.8%Fixed lines in service (in thousand lines)3,6793,861(182)-4.7%Mobile customers (in thousand)21,45922,983(1,524)-6.6%            Personal (Argentina)18,63119,529(898)-4.6%Nextel (Argentina)447952(505)-53.0%            Núcleo (Paraguay) -including Wimax customers-2,3812,502(121)-4.8%Broadband accesses (in thousand)4,0833,9741092.7%Cable TV Suscribers (in thousand)3,4843,511(27)-0.8%Argentina3,3413,366(25)-0.7%Uruguay143144(1)-0.7%Average Billing per user (ARBU) Fixed Telephony / voice  (in P$)204.8140.963.945.3%Average Revenue per user (ARPU) Mobile Services - Personal (in P$)165.0135.329.721.9%Average Revenue per user (ARPU) Broadband (in P$) ***585.1411.9173.242.0%Average Revenue per user (ARPU) Cable TV (in P$)653.3517.0136.226.3% *(Unaudited information - figures as of 1H17 calculated as the sum of the parts of Telecom Argentina's and Cablevisión's CAPEX)**(Figures ...Full story available on Benzinga.com
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