Cablevisi贸n Holding announces its First Half and Second Quarter 2025 Results
Cablevisi贸n Holding (OTC:CVHSY), the controlling shareholder of Telecom Argentina, reported its First Half 2025 results, marked by the significant acquisition of Telef贸nica M贸vil Argentina (TMA) in February 2025.
Key financial highlights include: Total revenues reached Ps. 3,357,004 million, up 44.4% year-over-year, primarily driven by TMA integration and higher ARPUs. EBITDA increased 45.2% to Ps. 1,000,447 million, with margin expanding to 29.8%. However, the company reported a consolidated net loss of Ps. 80,188 million, with Ps. 37,380 million attributable to controlling shareholders.
Results for 1H25 are not directly comparable to 1H24 due to the inclusion of TMA's operations starting March 1st, 2025. Excluding TMA, total costs decreased by 0.6% compared to 1H24.
Cablevisi贸n Holding (OTC:CVHSY), azionista di controllo di Telecom Argentina, ha comunicato i risultati del primo semestre 2025, contraddistinti dalla significativa acquisizione di Telef贸nica M贸vil Argentina (TMA) a febbraio 2025.
Punti finanziari chiave: i ricavi totali si sono attestati a Ps. 3,357,004 million, in aumento del 44,4% su base annua, principalmente grazie all'integrazione di TMA e all'incremento degli ARPU. L'EBITDA 猫 cresciuto del 45,2%, raggiungendo Ps. 1,000,447 million, con il margine che si 猫 ampliato al 29,8%. Tuttavia, la societ脿 ha registrato una perdita netta consolidata di Ps. 80,188 million, di cui Ps. 37,380 million attribuibili agli azionisti di controllo.
I risultati di 1H25 non sono direttamente confrontabili con quelli di 1H24 a causa dell'inclusione delle attivit脿 di TMA a partire dal 1潞 marzo 2025. Escludendo TMA, i costi totali sono diminuiti del 0,6% rispetto a 1H24.
Cablevisi贸n Holding (OTC:CVHSY), accionista mayoritario de Telecom Argentina, inform贸 sus resultados del Primer Semestre 2025, marcados por la significativa adquisici贸n de Telef贸nica M贸vil Argentina (TMA) en febrero de 2025.
Puntos financieros clave: los ingresos totales alcanzaron Ps. 3,357,004 million, un aumento del 44,4% interanual, impulsado principalmente por la integraci贸n de TMA y un mayor ARPU. El EBITDA aument贸 un 45,2% hasta Ps. 1,000,447 million, con el margen ampli谩ndose al 29,8%. No obstante, la compa帽铆a registr贸 una p茅rdida neta consolidada de Ps. 80,188 million, de los cuales Ps. 37,380 million fueron atribuibles a los accionistas controladores.
Los resultados de 1H25 no son directamente comparables con los de 1H24 debido a la inclusi贸n de las operaciones de TMA desde el 1 de marzo de 2025. Excluyendo TMA, los costos totales disminuyeron un 0,6% respecto a 1H24.
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欤检殧 鞛 韽澑韸�搿� 齑濎垬鞚奠澊 Ps. 3,357,004 million鞙茧 鞝勲厔 霃欔赴 雽�牍� 44.4% 歃濌皜頄堨溂氅�, 鞚措姅 欤茧 TMA 韱淀暕瓿� ARPU 靸侅姽鞐� 旮办澑頃╇媹雼�. EBITDA電� 45.2% 歃濌皜頃橃棳 Ps. 1,000,447 million鞚� 旮半頄堦碃, 毵堨鞚� 29.8%搿� 頇曤寑霅橃棃鞀惦媹雼�. 雼る 鞐瓣舶 靾滌啇鞁れ潃 Ps. 80,188 million鞙茧 氤搓碃霅橃棃瓿�, 攴胳 Ps. 37,380 million鞚� 歆�氚办＜欤检棎 攴�靻嶋悩鞐堨姷雼堧嫟.
1H25 鞁れ爜鞚� 2025雲� 3鞗� 1鞚茧秬韯� TMA 鞓侅梾鞚� 韽暔霅橃柎 1H24鞕� 歆侅爲 牍勱祼頃� 靾� 鞐嗢姷雼堧嫟. TMA毳� 鞝滌櫢頃橂┐ 齑濍箘鞖╈潃 1H24 雽�牍� 0.6% 臧愳唽頄堨姷雼堧嫟.
Cablevisi贸n Holding (OTC:CVHSY), actionnaire de contr么le de Telecom Argentina, a publi茅 ses r茅sultats du premier semestre 2025, marqu茅s par l'acquisition significative de Telef贸nica M贸vil Argentina (TMA) en f茅vrier 2025.
Points financiers cl茅s : les revenus totaux se sont 茅lev茅s 脿 Ps. 3,357,004 million, en hausse de 44,4 % en glissement annuel, principalement tir茅s par l'int茅gration de TMA et une augmentation des ARPU. L'EBITDA a progress茅 de 45,2 % pour atteindre Ps. 1,000,447 million, la marge s'茅tant 茅largie 脿 29,8 %. Toutefois, la soci茅t茅 a enregistr茅 une perte nette consolid茅e de Ps. 80,188 million, dont Ps. 37,380 million attribuables aux actionnaires de contr么le.
Les r茅sultats du 1H25 ne sont pas directement comparables 脿 ceux du 1H24 en raison de l'inclusion des op茅rations de TMA 脿 partir du 1er mars 2025. Hors TMA, les co没ts totaux ont diminu茅 de 0,6 % par rapport 脿 1H24.
Cablevisi贸n Holding (OTC:CVHSY), Mehrheitsaktion盲r von Telecom Argentina, hat seine Ergebnisse f眉r das erste Halbjahr 2025 ver枚ffentlicht, die von der bedeutenden 脺bernahme von Telef贸nica M贸vil Argentina (TMA) im Februar 2025 gepr盲gt sind.
Wesentliche finanzielle Kennzahlen: Die Gesamtums盲tze beliefen sich auf Ps. 3,357,004 million, ein Anstieg von 44,4 % gegen眉ber dem Vorjahr, haupts盲chlich bedingt durch die Integration von TMA und h枚here ARPU. Das EBITDA stieg um 45,2 % auf Ps. 1,000,447 million, wobei die Marge auf 29,8 % anstieg. Allerdings meldete das Unternehmen einen konsolidierten Nettoverlust von Ps. 80,188 million, davon entfallen Ps. 37,380 million auf die Mehrheitsaktion盲re.
Die Ergebnisse f眉r 1H25 sind nicht direkt mit 1H24 vergleichbar, da die TMA-Aktivit盲ten ab dem 1. M盲rz 2025 ber眉cksichtigt werden. Ohne TMA sind die Gesamtkosten im Vergleich zu 1H24 um 0,6 % gesunken.
- Major acquisition of Telef贸nica M贸vil Argentina completed, expanding market presence
- Total revenues increased 44.4% year-over-year to Ps. 3,357,004 million
- EBITDA grew 45.2% with margin expansion to 29.8%
- Higher ARPUs achieved across all services
- Total costs (excluding TMA) decreased by 0.6% year-over-year
- Consolidated net loss of Ps. 80,188 million compared to profit in 1H24
- Decrease in fixed telephony copper accesses
- EBITDA margin in Q2 declined to 27.5% from 32.9% in Q1 2025
- Net loss attributable to shareholders of Ps. 37,380 million versus profit in previous year
Insights
CVH reports mixed results with revenue growth driven by TMA acquisition, but posts net loss despite improved EBITDA.
Cablevision Holding's first half 2025 results present a complex picture of growth coupled with profitability challenges. The company's total revenue surged
The EBITDA performance shows improvement, increasing by
However, the bottom line tells a different story. CVH reported a consolidated net loss of
The quarter-over-quarter EBITDA margin deterioration from
BUENOS AIRES, ARGENTINA / / August 11, 2025 / Cablevisi贸n 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 First Half and Second 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 June 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 Comisi贸n Nacional de Valores ("CNV").
CVH Highlights (1H25 vs. 1H24):
This quarter includes results of Telef贸nica M贸vil Argentina ('TMA'), which was acquired by Telecom Argentina on February 24, 2025, hence, the results for the 1H25 aren't comparable to the results of 1H24 as they include results of TMA from March 1st 2025.
Total Revenues reached Ps. 3,357,004 million, an increase of
44.4% in real terms as of 1H25, compared to the same period of 2024, mostly driven by the incorporation of revenue from TMA and by higher ARPUs in real terms in all of the 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. 2,356,557 million, an increase of
44.1% in constant currency, mainly driven by higher costs on all items, driven by the incorporation of TMA. Excluding this effect, total costs reached Ps. 1,625,722 million, a decrease of0.6% compared to 1H24.EBITDA reached Ps. 1,000,447 million as of 1H25, an increase of
45.2% in real terms compared to 1H24, mainly driven by the incorporation of TMA's EBITDA, and by higher revenues (excluding TMA), resulting in a higher EBITDA Margin of29.8% in 1H25, compared to29.6% in 1H24.Consolidated Net Loss amounted to Ps. 80,188 million. Consolidated net loss attributable to the Controlling Company amounted to Ps. 37,380 million.
FINANCIAL HIGHLIGHTS
(millions of Ps. in constant Currency as of June 30, 2025) | 1H25 | 1H24 | % Ch. | 2Q25 | 1Q25 | 2Q24 | QoQ | YoY | ||||||||||||||||||||||||
Total Revenues | 3,357,004 | 2,324,104 | 44.4 | % | 1,911,678 | 1,445,326 | 1,193,553.5 | 32.3 | % | 60.2 | % | |||||||||||||||||||||
EBITDA (1) | 1,000,447 | 688,776 | 45.2 | % | 524,886 | 475,561 | 347,058 | 10.4 | % | 51.2 | % | |||||||||||||||||||||
EBITDA Margin (2) | 29.8 | % | 29.6 | % | 0.6 | % | 27.5 | % | 32.9 | % | 29.1 | % | (16.6 | %) | (5.6 | %) | ||||||||||||||||
Net income | (80,188 | ) | 1,193,499 | (106.7 | %) | (172,174 | ) | 91,985 | 79,589 | (287.2 | %) | (316.3 | %) | |||||||||||||||||||
Attributable to: | ||||||||||||||||||||||||||||||||
Equity Shareholders | (37,380 | ) | 459,614 | (108.1 | %) | (67,459 | ) | 30,077 | 27,279 | (324.3 | %) | (347.3 | %) | |||||||||||||||||||
Non-Controlling Interests | (42,808 | ) | 733,885 | (105.8 | %) | (104,715 | ) | 61,908 | 52,310 | (269.1 | %) | (300.2 | %) | |||||||||||||||||||
(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.
Investor Relations Contacts: | In New York: |
CONFERENCE CALL AND WEBCAST INFORMATION
CABLEVISI脫N HOLDING S.A
(BCBA:CVH)(OTC:CVHSY)
cordially invites you to participate in its Webcast Presentation
to discuss the First Half and Second Quarter 2025 Results
Date: Wednesday, August 13, 2025
Time: 12:00pm Buenos Aires Time/11:00am New York Time/4:00pm London
To access the live stream and slide presentation, visit:
The webcast presentation will also be available at:
ABOUT THE COMPANY
CVH was founded as corporate spin-off from Grupo Clar铆n 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.
SOURCE: Cablevision Holding S.A.
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FAQ
What were Cablevisi贸n Holding's (CVHSY) key financial results for First Half 2025?
How did the Telef贸nica M贸vil Argentina acquisition impact CVHSY's 2025 results?
What was Cablevisi贸n Holding's EBITDA margin trend in Q2 2025?
How much net loss did CVHSY report for shareholders in 1H 2025?
What were the main factors driving CVHSY's revenue growth in 1H 2025?
