CORRECTION FROM SOURCE: Cablevisión Holding Announces its Nine Months and Third Quarter 2025 Results

Rhea-AI Summary

Cablevisión Holding (NYSE:TEO) reported Nine Months and Third Quarter 2025 results on November 11, 2025. Results reflect the February 24, 2025 acquisition of Telefónica Móvil Argentina (TMA), with TMA results included from March 1, 2025, making 9M25 vs 9M24 not directly comparable.

Key figures: Total revenues of Ps. 5,622,561 million (+49.6% real), EBITDA Ps. 1,705,926 million (+57.8% real) with a 30.3% margin, total costs (ex-D&A) Ps. 3,916,635 million (+46.3%), consolidated net loss Ps. (279,620) million; net loss attributable Ps. (120,080) million.

Management applied IAS 29 inflation adjustment; a webcast is scheduled for Nov 12, 2025 at 3:00pm Buenos Aires.

Positive

• Total revenues Ps. 5,622,561 million (+49.6% real)
• EBITDA Ps. 1,705,926 million (+57.8% real)
• EBITDA margin 30.3% in 9M25 (vs 28.8% in 9M24)
• Costs excluding TMA down 3.0% vs 9M24 (Ps. 2,596,051 million)

Negative

• Consolidated net loss Ps. (279,620) million in 9M25
• Net loss attributable to equity shareholders Ps. (120,080) million
• Total costs (ex-D&A) rose to Ps. 3,916,635 million (+46.3%) driven by TMA

Insights

Senior Telecom Financial Analyst

Revenues and EBITDA rose sharply due to the Telefónica Móvil Argentina acquisition, but the group still reports a sizable consolidated net loss.

Consolidated Total Revenues reached 5,622,561 million for 9M25, up 49.6% year‑over‑year in real terms, driven explicitly by the inclusion of Telefónica Móvil Argentina (TMA) from March 1, 2025 and higher ARPUs; reported EBITDA rose to 1,705,926 million, a 57.8% increase, lifting the EBITDA margin to 30.3%.

At the same time, the group recorded a Consolidated Net Loss of 279,620 million, with 120,080 million attributable to equity holders; those loss figures are presented as fact and are not explained beyond the statement. Costs excluding depreciation rose to 3,916,635 million, largely reflecting TMA; excluding TMA, costs fell 3.0%.

The key business mechanism is simple: the TMA acquisition materially expanded revenue and EBITDA in 9M25, changing comparability with 9M24. Dependencies and risks include integration and one‑off accounting or consolidation effects tied to the acquisition and to the application of IAS 29 for inflation accounting, which the company applied as stated. Watch the upcoming webcast on November 12, 2025 for any management commentary clarifying the drivers of the reported net loss, the sustainability of higher ARPUs, and post‑acquisition cost dynamics over the next several quarters.

Correction: A new webcast link for the conference call

BUENOS AIRES, ARGENTINA / ACCESS Newswire / November 10, 2025 / Cablevisión Holding S.A., ("Cablevision Holding", "CVH" or "the Company" - BCBA:CVH)(OTC:CVHSY), controlling shareholder of Telecom Argentina S.A. (NYSE:TEO)(BCBA:TECO2), announced today its Nine Months and Third Quarter 2025 Results. Figures have been prepared in accordance with International Financial Reporting Standards ("IFRS") and are stated in constant Argentine Pesos ("Ps." or "P$") as of September 30, 2025, unless otherwise indicated.

The Company's Management has applied IAS 29 (inflation adjustment) in the preparation of these financial statements, following the provisions of Resolution 777/18, issued by the Comisión Nacional de Valores ("CNV").

CVH Highlights (9M25 vs. 9M24):

• This quarter includes results of Telefónica Móvil Argentina ('TMA'), which was acquired by Telecom Argentina on February 24, 2025, hence, the results for the 9M25 aren't comparable to the results of 9M24 as they include results of TMA from March 1^st 2025.

• Total Revenues reached Ps. 5,622,561 million, an increase of 49.6% in real terms as of 9M25, compared to the same period of 2024, mostly driven by the incorporation of revenue from TMA and by higher ARPUs in real terms in mobile, internet and Cable TV services, in part the effect of price increases carried implemented in 2024 and the decrease in inflation rate; partially offset by a decrease in fixed telephony copper accesses.

• Total Costs (Excluding Depreciation and Amortization) reached Ps. 3,916,635 million, an increase of 46.3% in constant currency, mainly driven by higher costs on all items, driven by the incorporation of TMA. Excluding this effect, total costs reached Ps. 2,596,051 million, a decrease of 3.0% compared to 9M24.

• EBITDA reached Ps. 1,705,926 million as of 9M25, an increase of 57.8% in real terms compared to 9M24, mainly driven by the incorporation of TMA's EBITDA, and by higher revenues (excluding TMA), resulting in a higher EBITDA Margin of 30.3% in 9M25, compared to 28.8% in 9M24.

• Consolidated Net Loss amounted to Ps. 279,620 million. Consolidated net loss attributable to the Controlling Company amounted to Ps. 120,080 million.

FINANCIAL HIGHLIGHTS

(millions fo Ps. in constant Currency as of September 30, 2025)			9M25				9M24			% Ch.					3Q25				2Q25				3Q24			QoQ				YoY
Total Revenues			5,622,561				3,758,165				49.6	%			2,065,202				2,025,772				1,295,363				1.9	%			59.4	%
EBITDA (1)			1,705,926				1,081,123				57.8	%			645,770				556,213				351,243				16.1	%			83.9	%
EBITDA Margin (2)			30.3	%			28.8	%			5.5	%			31.3	%			27.5	%			27.1	%			13.9	%			15.3	%
Net income			(279,620	)			1,248,159				(122.4	%)			(194,646	)			(182,449	)			(16,572	)			6.7	%			1074.6	%
Attributable to:
Equity Shareholders			(120,080	)			477,259				(125.2	%)			(80,471	)			(71,483	)			(9,786	)			12.6	%			722.3	%
Non-Controlling Interests			(159,540	)			770,900				(120.7	%)			(114,175	)			(110,966	)			(6,786	)			2.9	%			1582.6	%

^{(1) EBITDA is defined as Total Revenues minus operating cost and expenses (excluding depreciation and amortization). We believe that EBITDA is a meaningful measure of our performance. It is commonly used to analyze and compare media companies based on operating performance, leverage and liquidity. Nonetheless, EBITDA is not a measure of net income or cash flow from operations and should not be considered as an alternative to net income, an indication of our financial performance, an alternative to cash flow from operating activities or a measure of liquidity. Other companies may compute EBITDA in a different manner; therefore, EBITDA as reported by other companies may not be comparable to EBITDA as we report it.
(2 ) EBITDA Margin is defined as EBITDA over Total Revenues.}

CONFERENCE CALL AND WEBCAST INFORMATION
CABLEVISIÓN HOLDING S.A
(BCBA:CVH / OTC:CVHSY)
cordially invites you to participate in its Webcast Presentation
to discuss the Nine Months and Third Quarter 2025 Results

Date: Wednesday, November 12, 2025
Time: 3:00pm Buenos Aires / 1:00pm New York / 6:00pm London

To access the live stream and slide presentation, visit: https://event.choruscall.com/mediaframe/webcast.html?webcastid=cZ17fMoZ

The webcast presentation will also be available at: https://www.cablevisionholding.com/Investors

ABOUT THE COMPANY

CVH was founded as corporate spin-off from Grupo Clarín S.A. and it is the first Argentine holding company that engages in the development of infrastructure and the provision of convergent telecommunications services, focusing on Argentina and the region. CVH's subsidiaries specialize in the provision of cable TV, broadband and mobile communications services; and their brands are well known in the telecommunications and content distribution industries.

Disclaimer

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of CVH. You can identify forward-looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could", "may" or "might" the negative of such terms or other similar expressions. These statements are only predictions and actual events or results may differ materially. CVH does not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in CVH's projections or forward-looking statements, including, among others, general economic conditions, CVH's competitive environment, risks associated with operating in Argentina a, rapid technological and market change, and other factors specifically related to CVH and its operations.

Investor Relations Contacts: In Buenos Aires: Cablevisión Holding S.A. Samantha Olivieri, Head of Investor Relations mail: ir@cvh.com.ar Tel: (+54 11) 4309 - 3417 www.cvh.com.ar

In New York: Fig Corporate Communications Camilla Ferreira and Marcella Ewerton Dragone Email: fig@fig.ooo Tel: +1 917 691-4047

SOURCE: Cablevision Holding S.A.

View the original press release on ACCESS Newswire

FAQ

What did Cablevisión Holding (TEO) report for total revenues in 9M25?

Cablevisión Holding reported total revenues of Ps. 5,622,561 million for 9M25, a 49.6% increase in real terms versus 9M24.

How did EBITDA and margin change for TEO in 9M25?

EBITDA was Ps. 1,705,926 million (+57.8% real) with an EBITDA margin of 30.3% in 9M25 versus 28.8% in 9M24.

Why are Cablevisión Holding (TEO) 9M25 results not comparable to 9M24?

Results include Telefónica Móvil Argentina (TMA) after the Feb 24, 2025 acquisition, with TMA results consolidated from Mar 1, 2025.

What net income did Cablevisión Holding (TEO) record for 9M25 and attributable to shareholders?

Consolidated net loss was Ps. (279,620) million, with net loss attributable to equity shareholders of Ps. (120,080) million.

When and where is Cablevisión Holding's 9M25 webcast for investors?

The webcast is scheduled for Nov 12, 2025 at 3:00pm Buenos Aires; the live stream is available via the provided webcast link and the investor site.