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Telecom(TEO) - 2020 Q3 - Earnings Call Transcript
2020-11-11 20:23
Financial Data and Key Metrics Changes - Telecom Argentina's revenue for the first nine months of 2020 totaled P$2.7 billion, with a year-over-year decrease of 4.6% in constant pesos [10] - EBITDA reached P$1 billion, resulting in a 35.8% EBITDA margin, which grew by 2.4% year-over-year in constant pesos [10] - Service revenues decreased by 3.6% in real terms compared to the same period in 2019, with inflation reaching 36.6% year-over-year [23][34] Business Line Data and Key Metrics Changes - Mobile subscribers decreased by approximately 150,000 to 18.7 million, with a decline of around 250,000 in the prepaid segment, partially offset by an increase of close to 100,000 in postpaid [11] - Broadband and paid TV clients increased to 4.2 million and 3.6 million respectively, while fixed voice subscribers totaled 2.9 million [11] - Postpaid subscribers accounted for 41% of the total customer base, with a 2.6% increase, while prepaid subscribers decreased by 4.5% [22] Market Data and Key Metrics Changes - In Paraguay, Núcleo, a subsidiary, registered revenues of around P$142 million and EBITDA of P$62 million for the first nine months of 2020, with mobile customers totaling 2.2 million [30][31] - The broadband market share in Paraguay reached 33%, with significant growth in fixed internet subscribers [67] Company Strategy and Development Direction - The company is focused on digital transformation, aiming to become a 100% digital company, integrating operations and enhancing customer experience [14] - Telecom Argentina is working on IoT, FinTech, and Personal Cloud projects to diversify revenue streams [13] - The company plans to maintain CapEx at around 17% of revenues, focusing on network integration and infrastructure improvements [62] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about potential price increases in 2021, despite current price freezes due to government regulations [60] - The company is targeting a reduction in bad debt to around 3% for the next year, anticipating a gradual return to normal levels post-pandemic [73] - Management noted that the competitive landscape remains aggressive, but Telecom Argentina has managed to increase ARPU and maintain revenue growth [74] Other Important Information - The company has improved its capital structure by refinancing debts and extending maturities, with a gross debt of P$171 billion as of September 2020 [49][52] - Operating free cash flow amounted to approximately $509 million, reflecting an increase due to higher EBITDA and reduced CapEx [48] Q&A Session Summary Question: Update on potential price increases for telecom services in 2021 - Management is optimistic about negotiating price increases with the government, although the extent remains uncertain [60] Question: Alternatives if price increases are not allowed - Management believes there is room to reduce promotional discounts to maintain revenue levels [61] Question: CapEx targets for 2021 - The target is to maintain CapEx at around 17% of revenues, with a focus on network integration and infrastructure [62] Question: Mobile performance despite price freeze - The success in converting prepaid to postpaid subscribers has contributed to stable revenue performance [66] Question: Long-term goals for Paraguay's fixed broadband product - The company aims to continue growing its market share in Paraguay, leveraging its FTTH network [67] Question: Impact of the decree on customer base and bad debt - The decree has led to an increase in non-paying customers, with bad debt rising to approximately 3.8% [69] Question: Competitive environment in Paraguay - The market remains competitive, but Telecom Argentina has managed to increase revenues while competitors struggle [74] Question: Plans for dividend distribution next year - The decision regarding dividends will be made at the upcoming shareholders' assembly [76] Question: Cost-cutting initiatives and future potential - Management believes there is limited room for further cost reductions without impacting necessary operational expenses [77]
Telecom(TEO) - 2020 Q2 - Earnings Call Transcript
2020-08-19 21:10
Telecom Argentina SA. (NYSE:TEO) Q2 2020 Results Earnings Conference Call August 19, 2020 11:00 AM ET Company Participants Solange Barthe Dennin - Manager of Investor Relations Roberto Nobile - Chief Executive Officer Gabriel Blasi - Chief Financial Officer Fernando José Balmaceda - Director of Investor Relations Conference Call Participants Solange Barthe Dennin Good morning. On behalf of Telecom Argentina, I would like to thank everybody for participating on this conference call. The participants on today ...
Telecom(TEO) - 2019 Q4 - Annual Report
2020-03-18 20:52
As filed with the Securities and Exchange Commission on March 18, 2020 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition pe ...
Telecom(TEO) - 2018 Q4 - Annual Report
2019-03-26 22:37
Table of Contents As filed with the Securities and Exchange Commission on March 26, 2019 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For ...
Telecom(TEO) - 2018 Q4 - Earnings Call Transcript
2019-03-12 00:26
Telecom Argentina SA (NYSE:TEO) Q4 2018 Results Earnings Conference Call March 8, 2019 10:00 AM ET Company Participants Solange Barthe Dennin - IR Gabriel Blasi - CFO Conference Call Participants Rodrigo Villanueva - BofA Merrill Lynch Andre Baggio - JP Morgan Guilherme Haguiara - Bradesco Operator Good day, everyone, and welcome to the Telecom Argentina TEO Fiscal Year 2018 Earnings Conference Call. Today's call is being recorded. Participating on today's call, we have Mr. Gabriel Blasi, Chief Financial Of ...