XML 52 R39.htm IDEA: XBRL DOCUMENT
v3.22.1

DESCRIPTION OF BUSINESS AND BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
DESCRIPTION OF BUSINESS AND BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS |
Schedule of subsidiaries included in the consolidation process and the respective equity interest owned by the company | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Telecom Argentina's |
​ | ​ | ​ | ​ | ​ | ​ | direct/indirect interest | ​
​ | ​ | ​ | ​ | ​ | ​ | in capital stock and | ​
Company |  | Main Activity |  | Country |  | votes | ​
Núcleo |  | Mobile telecommunications Services | ​ | Paraguay | ​ | 67.50 | %
Personal Envíos | ​ | Mobile financial services | ​ | Paraguay | ​ | 67.50 | %
Tuves Paraguay | ​ | Distribution of television and audio signals direct to home services | ​ | Paraguay | ​ | 67.50 | %
Micro Sistemas | ​ | Services related to the use of electronic payment media | ​ | Argentina | ​ | 100.00 | %
Pem | ​ | Investment | ​ | Argentina | ​ | 100.00 | %
Cable Imagen | ​ | Closed-circuit television | ​ | Argentina | ​ | 100.00 | %
Televisión Dirigida | ​ | Cable television services | ​ | Paraguay | ​ | 100.00 | %
Adesol (a) |  | Holding | ​ | Uruguay | ​ | 100.00 | %
AVC Continente Audiovisual (b) |  | Broadcasting services | ​ | Argentina | ​ | 100.00 | %
Inter Radios |  | Broadcasting services | ​ | Argentina | ​ | 100.00 | %
Telecom USA | ​ | Telecommunication services | ​ | USA | ​ | 100.00 | %
Personal Smarthome S.A. (c) | ​ | Security solutions and services | ​ | Argentina | ​ | 100.00 | %
Opalker S.A. (d) | ​ | Cybersecurity and related services | ​ | Uruguay | ​ | 100.00 | %
​
(a) | Includes the 100% interest in Telemas S.A., which holds interests in the following special-purpose entities: Audomar S.A., Bersabel S.A., Dolfycor S.A., Reiford S.A., Space Energy S.A., Tracel S.A. and Visión Satelital S.A. (See Note 3 d.4) to these consolidated financial statements).
(b) | On October 27, 2021, Telecom acquired the remaining 40% of AVC Continente Audiovisual's capital stock. For further information, see Note 3.d.1.b) to these consolidated financial statements.
(c) | Company started on December 30, 2020 and registered in the IGJ on June 9, 2021 As of December 31, 2021 is a dormant entity.
(d) | Company acquired on July 27, 2021. For further information, see Note 3.d.1.f) to these consolidated financial statements.
​
Schedule of income statement information | Presented below is the Segment financial information as it is analyzed by the Executive Committee and the CEO for the years ended December 31, 2021, 2020 and 2019.
| ◻ | Consolidated Income Statement as of December 31, 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Services |  | Services |  | ​ |  | Other |  | ​ |  | ​ |  | ​
​ | ​ | ​ | ​ | rendered in | ​ | rendered in | ​ | ​ | ​ | abroad | ​ | Other abroad | ​ | ​ | ​ | ​
​ | ​ | Services | ​ | Argentina – | ​ | Argentina | ​ | Other | ​ | segments – | ​ | segments | ​ | ​ | ​ | ​
​ | ​ | rendered in | ​ | Inflation | ​ | restated for | ​ | abroad | ​ | Inflation | ​ | restated for | ​ | ​ | ​ | ​
​ | ​ | Argentina | ​ | restatement | ​ | inflation | ​ | segments | ​ | restatement | ​ | inflation | ​ | Eliminations | ​ | Total
Revenues |  | 332,816 |  | 63,403 | ​ | 396,219 | ​ | 26,215 |  | 5,067 | ​ | 31,282 | ​ | (2,008) |  | 425,493
Operating costs without depreciation, amortization and impairment of fixed assets |  | (229,554) |  | (46,552) | ​ | (276,106) | ​ | (15,514) |  | (3,114) | ​ | (18,628) | ​ | 2,008 |  | (292,726)
Adjusted EBITDA | ​ | 103,262 | ​ | 16,851 | ​ | 120,113 | ​ | 10,701 | ​ | 1,953 | ​ | 12,654 | ​ | — | ​ | 132,767
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation, amortization and impairment of fixed assets |  | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (135,554)
Operating loss |  | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (2,787)
Earnings from associates |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | 395
Debt financial expenses |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | 28,700
Other financial results, net |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | 16,949
Income before income tax expense |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | 43,257
Income tax expense |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | (33,317)
Net Income |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | 9,940
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Attributable to: |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | ​
Controlling Company |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | 8,665
Non-controlling interest |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | 1,275
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 9,940
​
| ◻ | Consolidated Income Statement as of December 31, 2020
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Services |  | Services |  | ​ |  | Other |  | ​ |  | ​ |  | ​
​ | ​ | ​ | ​ | rendered in | ​ | rendered in | ​ | ​ | ​ | abroad | ​ | Other abroad | ​ | ​ | ​ | ​
​ | ​ | Services | ​ | Argentina – | ​ | Argentina | ​ | Other | ​ | segments – | ​ | segments | ​ | ​ | ​ | ​
​ | ​ | rendered in | ​ | Inflation | ​ | restated for | ​ | abroad | ​ | Inflation | ​ | restated for | ​ | ​ | ​ | ​
​ | ​ | Argentina | ​ | restatement | ​ | inflation | ​ | segments | ​ | restatement | ​ | inflation | ​ | Eliminations | ​ | Total
Revenues |  | 240,325 |  | 185,042 | ​ | 425,367 | ​ | 18,183 |  | 13,811 | ​ | 31,994 | ​ | (2,127) |  | 455,234
Operating costs without depreciation, amortization and impairment of fixed assets |  | (158,901) |  | (123,028) | ​ | (281,929) | ​ | (11,419) |  | (8,712) | ​ | (20,131) | ​ | 2,127 |  | (299,933)
Adjusted EBITDA | ​ | 81,424 | ​ | 62,014 | ​ | 143,438 | ​ | 6,764 | ​ | 5,099 | ​ | 11,863 | ​ | — | ​ | 155,301
Depreciation, amortization and impairment of fixed assets |  | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (124,669)
Operating Income |  | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | 30,632
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Earnings from associates |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | 749
Debt financial expenses |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | (37,280)
Other financial results, net |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | 10,649
Income before income tax expense |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | 4,750
Income tax expense |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | (12,454)
Net loss |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | (7,704)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Attributable to: |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | ​
Controlling Company |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | (8,626)
Non-controlling interest |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | 922
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (7,704)
​
| ◻ | Consolidated Income Statement as of December 31, 2019
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | Services | ​ | Services | ​ | ​ |  | Other | ​ | ​ | ​ | ​ |  | ​
​ | ​ | ​ | ​ | rendered in | ​ | rendered in | ​ | ​ | ​ | abroad | ​ | Other abroad | ​ | ​ | ​ | ​
​ | ​ | Services | ​ | Argentina – | ​ | Argentina | ​ | Other | ​ | segments – | ​ | segments | ​ | ​ | ​ | ​
​ | ​ | rendered in | ​ | Inflation | ​ | restated for | ​ | abroad | ​ | Inflation | ​ | restated for | ​ | ​ | ​ | ​
​ | ​ | Argentina | ​ | restatement | ​ | inflation | ​ | segments | ​ | restatement | ​ | inflation | ​ | Eliminations | ​ | Total
Revenues |  | 182,233 |  | 274,494 | ​ | 456,727 | ​ | 12,931 |  | 19,924 | ​ | 32,855 | ​ | (2,515) |  | 487,067
Operating costs without depreciation, amortization and impairment of fixed assets |  | (121,682) |  | (186,711) | ​ | (308,393) | ​ | (8,946) |  | (13,842) | ​ | (22,788) | ​ | 2,515 |  | (328,666)
Adjusted EBITDA | ​ | 60,551 | ​ | 87,783 | ​ | 148,334 | ​ | 3,985 | ​ | 6,082 | ​ | 10,067 | ​ | — | ​ | 158,401
Depreciation, amortization and impairment of fixed assets |  | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (125,944)
Operating Income |  | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | 32,457
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Losses from associates |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | (385)
Debt financial expenses |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | (34,229)
Other financial results, net |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | 23,284
Income before income tax expense |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | 21,127
Income tax benefit |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | (29,116)
Net loss |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | (7,989)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Attributable to: |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | ​
Controlling Company |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | (9,034)
Non-controlling interest |  |  |  | ​ | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​ |  |  | 1,045
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (7,989)
Schedule of Financial Statement Information Based on Geographical Area | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31
​ | ​ | 2021 | ​ | 2020 | ​ | 2019
Sales revenues from customers located in Argentina |  | 394,781 |  | 423,580 |  | 454,269
Sales revenues from foreign customers |  | 30,712 |  | 31,654 |  | 32,798
​ | ​ | ​ | ​ | ​ | ​ | ​
CAPEX corresponding to the segment “Services rendered in Argentina |  | 78,593 |  | 75,599 |  | 124,088
CAPEX corresponding to the segment “Other abroad segments” |  | 6,957 |  | 8,525 |  | 10,486
​ | ​ | ​ | ​ | ​ | ​ | ​
Fixed assets corresponding to the segment “Services rendered in Argentina” |  | 974,315 |  | 1,008,512 |  | 1,034,134
Fixed assets corresponding to the segment “Other abroad segments” |  | 33,608 |  | 39,882 |  | 40,985
​ | ​ | ​ | ​ | ​ | ​ | ​
Financial Debt corresponding to the segment “Services rendered in Argentina” |  | 259,403 |  | 293,562 |  | 303,919
Financial Debt corresponding to the segment “Other abroad segments” |  | 7,518 |  | 8,623 |  | 8,421
​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of national consumer price index according to official statistics (INDEC) | The table below show the evolution of the National CPI in the last three years according to official statistics (INDEC) and following the guidelines provided by Resolution No. 539/18, as well as the devaluation of the argentine peso against the US dollar for the same years:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of December 31, |  | As of December 31, |  | As of December 31, |
​ | ​ | 2019 | ​ | 2020 | ​ | 2021 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
National Consumer Price Index (December 2016=100) | ​ | 284.44 | ​ | 385.88 | ​ | 582.46 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Variation in Prices |  |  |  |  |  | ​ | ​
Annual |  | 53.8 | % | 36.1 | % | 50.9 | %
Accumulated 3 years | ​ | 183.2 | % | 209.2 | % | 216.1 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Banco Nación US$/$ exchange rate | ​ | 59.89 | ​ | 84.15 | ​ | 102.72 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Variation in the exchange rate | ​ | ​ | ​ | ​ | ​ | ​ | ​
Annual | ​ | 58.9 | % | 40.5 | % | 22.1 | %
Accumulated 3 years |  | 276.9 | % | 351.2 | % | 172.5 | %

X
- Definition The disclosure of operating segments. [Refer: Operating segments [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2021-01-01 -Paragraph 23 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_23&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_DisclosureOfOperatingSegmentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | teo_DisclosureOfDescriptionOfBusinessAndBasisOfPreparationOfFinancialStatementsAbstract
Namespace Prefix: | teo_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of entities included in the consolidation process and the respective equity interest owned by the company. + References No definition available. + Details
Name: | teo_ScheduleOfEntitiesIncludedInConsolidationProcessAndRespectiveEquityInterestOwnedByCompanyTableTextBlock
Namespace Prefix: | teo_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financial statement related information based on geographical area. + References No definition available. + Details
Name: | teo_ScheduleOfFinancialStatementInformationBasedOnGeographicalAreaTableTextBock
Namespace Prefix: | teo_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The + References No definition available. + Details
Name: | teo_ScheduleOfNationalConsumerPriceIndexAccordingToOfficialStatisticsTableTextBlock
Namespace Prefix: | teo_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration