Telecom Argentina slashed investments in 2022

Telecom Argentina slashed investments in 2022

Telecom Argentina reported total investments of 126bn pesos (US$631mn) in 2022, down 24.2% from 2021.

Including usage rights, such as for spectrum, total investments over the year reached 147bn pesos (US$730mn), which is above the US$700mn that the company had planned to disburse last year. These investments were equivalent to 20.2% of the company’s consolidated sales.

The majority of Telecom’s investments were focused on improving transmission and internet access, deployment and modernization of 4G mobile access sites, expansion of 5G DSS, expansion of transmission and transport networks to unify access technologies, last-mile networks via fiber to the home (FTTH) and new systems to make customers relations more efficient.

As of the end of December, Telecom had 180 5G mobile sites in Buenos Aires, Rosario, the Atlantic Coast, Córdoba, Santa Fe, Corrientes, Posadas and Paraná.

Telecom did not specify the number of users now accessing its services via fiber optics, but it did mention 79% of total customers now had internet download speeds above 100Mbps, exceeding the 30% reported at end-2021.

The Argentine company offers fixed broadband services over HFC cable networks and fiber optics.

During 2022 the company continued deploying its ISDB-T television technology for its Flow on-demand video service and it now has 1.3mn customers under this format. Revenues from cable TV services reached 131bn pesos for the year, down 18.6% compared with 2021. 


During 2022, Telecom Argentina signed new financing tranches with China Development Bank Shenzhen Branch (CBD) for a total of US$70.5mn.

In addition, it received disbursements from two credit lines, US$11.4mn under one with Finnvera and US$23mn from Export Development Canada (EDC), completing the amounts agreed.

Telecom also received disbursements totaling US$16mn from Cisco System Capital Corporation that were used to purchase telecommunications equipment.


Telecom Argentina’s consolidated sales of amounted to 729bn pesos, sliding 12% compared with 2021. Service sales totaled 681bn pesos, a drop of 11.7% compared with 2021.

During the year, the company reported a net loss of 206bn pesos. Net financial debt reached 420bn pesos.

The results include the effects of inflation, which in 2022 was estimated at 94.8%.

Telecom Argentina ended the year with a total of 20.2mn customers, up 116,000 compared with the end of 2021. Cable TV subscribers fell by 84,000 to 3.5mn, while broadband accesses dipped by 132,000 to 4.1mn.


The firm’s Paraguayan operation Núcleo ended 2022 with 2.3mn clients, of which 79% were prepaid and 21% were postpaid. Sales of mobile services reached 25.1bn pesos, down 22.9% compared with 2021.

In Argentina, the Personal Pay virtual wallet ended the year with 700,000 customers. Recently, the company announced the incorporation of an investment service in mutual funds to allow clients to generate growth from the money they have available in the virtual wallet platform.

Revenues from handset sales slipped 16.2% due to a 15% drop in the number of devices sold, which was offset by 66% growth in their average cost.

In the corporate segment, Telecom is trying to expand with new solutions, including cybersecurity and a partnership with Oracle Cloud. Telecom also reaffirmed its partnership with the Cessi software chamber to work together with its more than 1,800 member companies as technological advisors and help them with their digital transformation and processes of evolution.