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Contacts : Fernando Balmaceda ( 5411 ) 4968 5222 Lucas Berges ( 5411 ) 4085 7604 TELECOM Telecom Argentina S.A. announces consolidated results for the six month period ( “ 1H21 ” ) and second quarter of fiscal year 2021 ( “ 2Q21 ” ) ** Market Cap ( NYSE : TEO ) : US $ 2,210 million * Note : For the figures included in their FFSS , the Company has accounted for the effects of inflation adjustment adopted by Resolution 777/18 of the Comisión Nacional de Valores ( “ CNV " ) , which establishes that the restatement will be applied to the annual financial statements , for intermediate and special periods ended as of December 31 , 2018 inclusive . Accordingly , the reported figures corresponding to 1H21 include the effects of the adoption of inflationary accounting in accordance with IAS 29. Finally , comments related to variations of results of 1H21 and vs. 1H20 mentioned in this press release correspond to " figures restated by inflation " or " constant " . Moreover , Table 3 contemplates information broken down by segment for periods ended as of June 30 of 2021 and 2020 as analyzed by the Executive Committee and the CEO , who receive periodically the financial information of Telecom and its subsidiaries ( in historical values ) . For further details , please refer to the titles of the financial tables beginning from page 11 . For comparative purposes , it is important to highlight that the results restated by inflation corresponding to June 2020 contain the effect of the year over year inflation as of June 2021 , which amounted to 50.2 % . Consolidated Revenues amounted to P $ 180,018 million in 1H21 , from which Service Revenues totaled P $ 167,085 million ( -10.8 % in constant currency vs. 1H20 ) , in a context where inflation still remains high . Service revenues for 2021 totaled P $ 81,523 million ( -12.3 % in constant currency vs 2Q20 ) Mobile clients in Argentina reached 19.3 million in 1H21 ( +460 thousand vs. 1Q21 ) , cable TV subscribers totaled approximately 3.5 million ( +20 thousand vs. 1Q21 ) , while broadband accesses amounted to almost 4.2 million ( +62 thousand vs. 1Q21 ) . Operating Income before Depreciation and Amortization amounted to P $ 61,254 million in 1H21 ( -14.8 % vs. 1H20 ) . Operating Income totaled P $ 5,305 million ( -75.6 % vs. 1H20 ) . The Company registered a Net Loss of P $ 1,672 million in 1H21 , mainly due to tax expenses of P $ 25,682 million , partially offset by the company's operating profit and positive net financial results of P $ 18,590 million * Market Cap as of August 5th , 2021 ** Unaudited non financial data Investments ( including rights of use assets ) reached P $ 41,705 million in 1H21 , equivalent to 23.2 % of Consolidated Revenues . Net Financial Debt amounted to P $ 189,342 million in 1H21 , ( -13.7 % in constant currency vs. 4Q20 ) 1