Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
|---|
| Our postpaid participation over total mobile subscribers continues to be strong, reaching 39% of our total mobile customer base |
| Our cash flow generation remains strong despite the challenging context |
| In fact, we have seen good results in our pay TV during the fourth quarter of 2023, where we managed to stabilize our customer base while we are still observing encouraging growth in our growth platform, both in Flow Full and Flow Flex modalities |
| We also improved the upstream capacity of our HFC network by almost 17,000 blocks |
| We are exploiting our Flow video platform, which we observe that has very good usage and NPS metrics in comparison with the legacy HD |
| My conclusion on that, I'm sorry if I am not more precise, is that if you look at how we have coped with that, the company has been pretty successful in terms of coping with the trend |
| In the pay TV businesses, Flow is our IP video platform with the best experience |
| And we have been very successful with one of the successful with one of the unions on the labor cost |
| We also have better pricing power in mobile |
| We have a very good quality of product in mobile and the fastest network in the country |
| This was mainly related with the good performance of our prepaid segment, where we registered a stronger customer recharge rate |
| So you did a very strong job there in improving margins despite revenues declining in real terms |
| Mobile and broadband are the segments where we have been able to greatly improve the pass-through of inflation to revenues |
| We have a solid and stable free cash flow generation before dividends and interest payments, generating between $400 million and $500 million annually during the last three years considering ordinary CapEx for each year |
| The company's efforts have been very successful, as evidenced by most cost lines keeping the same share of our revenues, with almost every cost line decreasing more than our revenues in real terms |
| Flow Flex, our broadband subscription modality, also delivered good results during fiscal year 2023 |
| Our regional operations remain very solid |
| This allowed us to increase our EBITDA margin for 2023 in a year-over-year basis |
| Thanks to these measures, we have been able to reduce the lag versus inflation during the fiscal year 2023 |
| Our cash flow generation remained very robust, factoring in the macroeconomic situation in Argentina |
| I mean, we've been very successful reducing all our OpEx in pesos significantly and trying to match and keeping the margins up |
| We managed to improve the margin on a year-over-year basis due to effective cost management initiatives and an improvement in the pass-through of inflation to revenues |
| In pay TV, our Flow platform continues to perform well, and our pay TV accesses have remained steady quarter-over-quarter |
| In overall, and despite this situation, we have fully executed our CapEx plan for this year and the performance of our network is currently very solid |
| Thanks to this, we have been able to revert the trend registered during the last quarter of 2022 and the first quarter of 2023, and stabilize our broadband subscriber base in a challenging competitive environment |
| Our mobile subscriber base continues to grow, increasing almost 4% year-over-year |
| So, in fact, we are leveraging on the very good quality of our HFC network while actively migrating our legacy xDSL accesses |
| Our operation in Paraguay is performing very well |
| Consolidated revenues grew by 110% on nominal terms during 2023, reaching more than ARS1.1 trillion |
| Our strategy is to continue to uphold the quality of our service, improving our NPS, which has registered an improving trend since 2019 |
| Statement |
|---|
| But it is something that we are challenging on an everyday basis and this is -- we can manage sustaining the margin |
| When analyzing said figure adjusted by inflation, revenues amounted to more than ARS2 trillion, showing a decrease of 9% in real terms versus the same figure in 2022 |
| Our main concern, not main concern, but main challenge is on the labor cost side |
| In general terms, our postpaid customer base has been registering a down selling to prepaid, not affecting the overall mobile customer base |
| Our fixed voice segment continues to register a reduction in accesses, mainly in our traditional fixed copper network, which we are replacing partially with the new IP telephony accesses over our HFC and FTTH networks |
| We managed to maintain our EBITDA margin in a challenging context in Argentina |
| The company had a net loss of ARS249 billion in 2023, mainly due to the influence of the strong devaluation that the peso experienced in real terms, which affected our financial debt denominated in foreign currency |
| In pesos, our structure in pesos, we're always challenging that |
| It has been affected mostly by a lower EBITDA in real terms, a higher CapEx mainly associated with investment in 5G spectrum |
| But we have been very cautious and we launched only $350 million |
| Due to these, figures in US dollars as of the end of fiscal year 2023 had been temporarily affected by the abrupt devaluation of the peso that took place in mid-December |
| We've been very tough trying to make sure that labor is growing with inflation, but growing with inflation with at least with a month lag |
| Just to go back to the first and second quarter of last year, that we have a little impact on customer base |
| In dollar terms, total free cash flow generation experienced a reduction of approximately $330 million in 2023 |
| In turn, we have observed a reduction in xDSL accesses, which we are migrating to FTTH |
| Yeah, I'm wondering how long do you think it will take you to catch up with FX depreciation from an EBITDA standpoint because clearly in the fourth quarter, the very sharp FX depreciation was so quick and happening at the very last month of the year that this impacted your whole EBITDA figure |
| We have refinanced more than $600 million in a very challenging year, of which more than 50% were cross-border maturities |
| It seems up to now that inflation is decreasing |
| Such statements are subject to uncertainties that could cause Telecom's actual results and operations to differ materially |
| And that's the 25% margin that we are losing on the pass-through |
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