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spk_0: good morning and welcome to cablevision holdings conference call my name is chad and i will be or conference operator today after the speakers are much there will be a question and answer session may submit your questions throughout the event by clicking in the in that a question box on your screen today we will discuss cablevision holding nine months in third quarter two thousand twenty two results this call is for investors and analysts only therefore questions for the media will not be taken at this time however if you are a member of the media and have questions please contact big corporate communications following the call i went out and use our speaker from is samantha i'm a very had of investor relations the team will be discussing results as perverts earnings release distributed last thursday november the camp if you have not received a report or need assistance during today's call please contact sig corporate communications and are at nine one seven six nine one four zero four seven or the company in buenos aires at five four one one four three zero nine three four worth one said pvh has also posted the webcast presentation that can be found at w w dot cablevision hauling dot com slash investors comments made by management may contain for looking statements about cablevision whole future performance plans strategies and sorry such statements are subject to uncertainties that could cause cablevision holdings actual results in operations to differ materially dutch uncertainties includes that are not limited to the effects of the impact in the region of eastern conflict new are ongoing industry and economic relief regulations possible changes in demand for cablevision holdings products and services and the effects of more general factors such as changes in general market economics or in regulatory conditions please refer to the disclaimer in earnings reports for presentation for additional information regarding regarding for the he said it is now my pleasure to talk to a call over tim is samantha all a very please go ahead
spk_1: thank you said good morning everyone think you for joining us today collar begin with a brief macro review to continue with their reviews that companies income statements and operating reasons followed by a review of the financial decisions pleases decide for as we've been describing in the past where did he presentations argentina's economy continues to to register acceleration in the inflation rate in addition he attempts to bring the interest rates and it seems rate closer to inflation result in an acceleration is an i'm an allergy of the economy which is continues to challenge the central bank of the lady to maintain a level of reserves going into numbers september later wrote to six point two percent are lower than previous month which registered a record high in july and accumulate sixty six point one percent reaching eighty three percent year over year estimate for twenty twenty two are being revised upwards and are entering the triple digit series according to the central bank expectations survey current estimates twenty twenty three in the best case scenario rf unknown gdp growth following a four point five girls expected for the current here and one hundred percent inflation rate giving the scenario there seems to be some level of consensus between the governing party and if up opposition about the need for a civilization fans langford generates high prices any stabilization plan was initially correct relative prices including official effect face while ensuring a foot snow share of the fiscal deficit that puts an end to the direct monetary sense financing of the treasury whether by central bank transfers are dividends or and direct to purchase a sorry sovereign debt this month comes hand in hand with the prices and salaries agreement to bring an end to the indexation of salaries and pensions the plantations in agreement with the am a staff of a consistent monetary and fiscal road map for the years to come would contribute to enter expectations about the future economic prefer performance we will now in kenya with cv a key finances slight six shows that highlights for the nine months of twenty twenty two the company has reflected the effects of the place in adjustment adopted a resolution seven hundred and seventy seven sexy team of they consume less and under that not as cmv which establishes the refreshed and a figures must be applied to the animal financial statements for intermediate and special fears and it as soft and including december thirty first twenty team appointing needs the report it figures corresponding to the nine months twenty twenty two include the effects of reduction of inflationary accounting in accordance with the international counting standard twenty nine for comparative purposes there were some three stated by inflation corresponding to september twenty twenty one contain the effect of year over year inflation as of september twenty twenty two which amounted to eighty three percent and this presentation we included some figures and historical value for the sake of clarity see the age of thirty nine point states in feel and controlling shareholder of telecom argentina it consolidates one hundred percent of it's operations in coffins currency revenues for nine months twenty two dropped twelve point two percent from five hundred and thirty six point two to four hundred and seventy one billion pesos mainly driven by lowered service revenues increasingly higher higher inflation is hard to fully best to to prices for services a be that rates approximately one hundred and thirty four point seven the and basis in constant currency a twenty two point six degrees compared to nine months twenty one driven by know revenue partially offset by know or operating costs and beat the margin decreased from thirty two point five percent to twenty eight point six percent and be phenomenal faces it's to one hundred and seven point one billion pesos twenty four percent higher than nominal be tough for nine months twenty one when inflation for the same period was approximately eighty three percent
spk_2: setting them total negative
spk_3: one hundred and thirty one
spk_1: nine eight thousand nine hundred and ninety nine million from two thousand and five hundred forty eight million we pointed during nine months twenty one a decrease in net income is mainly the recent of an impairment loss of the good with acid of one hundred and seventy four thousand five hundred and fifty eight million pesos following a revision of they recoverable value that summation of the good ones generated by the merger between silicon and cablevision in twenty teams given the current my
spk_4: or economic and markets environments
spk_1: and lower they don't partially offset by lower income tax as a result of the application of the deferred income tax man method which resulted in a game versus a and twenty twenty one in higher next financial results the effects slack prevented the effect of laugh as a result to to the revaluation of death and dollars as a been occurring in previous quarters the equity shareholders net not for the period amounted to eighty thousand nine hundred and eighty eight million and is mainly the result a cv a stake in silicon and assessment of the goodwill incinerated by the merger at this at cvs level now let's continue on to cite seven for a discussion of the operating results in the third quarter twenty two revenues and thirty four to twenty two decreased by sixteen point nine percent of a price increases for his services keeping up with high levels inflation the argentine economy has experienced a way that south month has been a challenge revenues and nominal terms increased forty nine percent one inflation for the same period was approximately eighty three percent the main source of revenue for is of sixty infrastructure prop and pay tv and six that funny in data services amounted to fifty one point seven percent of total a more mobile service participation stood at forty point nine percent if you beats increased by twenty four percent year on year in nominal terms representing and it is a margin of twenty five percent for twenty five point three percent well maybe some margin in real terms decrease to twenty four point five percent then i love for the period a to rid of up to the equity shareholders was ninety five thousand two hundred and fifty six million in constant basis mainly as a result of see the it's participation and telecoms net income and assessments of goodwill generated by the merger of at cvs level
spk_5: now let's move on to slide eight
spk_1: my revenues were present approximately forty point nine percent of our revenue and decrease nine point five percent in real terms when comparing third quarter twenty two versus third four to twenty one as an emergency next lions increase two point four percent twenty million and post a clients amounted to forty three percent of total mobile clients mobile internet users increased reaching an average of five six bytes per user per month in the first nine months of twenty twenty two thanks to the cabbage deployment silicone have been able to increase in numbers at forty subscribers if rapid growth and subscribers cities of forty network has been the main driver of data traffic increase argentina for restated and constant currency debrief by nine point nine percent to nine hundred and thirty six point five pesos in nine months twenty two and most a journey increased to two point five percent from one point six percent in nine months twenty one the commercial strategy has been focused on achieving higher mobile portability two convergence offers and promoting this excessive consumption of mobile internet
spk_6: update fifty two points
spk_1: fifty two percent of telecoms brother customers have a mobo bundle there's the roll out of the strategic catholics plan and that converts and ah for the company has turned around strand of negative portability night addition in argentina and have been increasing the number of stuff over the last four and a half years
spk_7: please turn to sign nine
spk_1: revenues for fixed services including province cable tv and fix of a nice and data services decreased by twenty percent a real terms mainly driven by the challenging inflation aerodynamics broadband subscribers the main staple four point two million one month return with one point five percent stable have compared to the same figure last year i for real terms decrease approximately two thousand six hundred and forty two pesos pricing says in september twenty one january a bronze like twenty two and higher internet speeds sold her customer base were not enough to offset the inflation the to the also be noted said due to our across selling strategy six products have been offered with some discounts to encourage positive positive mobile for the village around seventy nine percent of or four point two million brother customers were censored for their twenty two subscribe to services with feats of fifty megabytes or higher moving to the cable tv subscribers to customer base remained stable at three point five million sonia slight decrease year over year furthermore zoe any customers received one point three million on eighteen point three percent increase from figures have served over the years during the past month still through it's lower version has continued to expand it's penetration in areas where sets on that has a great presence mean the northern region of argentina this is allowed an increase in the capture of cable tv subscribers the region in which company reach it's so it's fc a cell and five or two at home network for it's content proposal as the content aggregator slow includes not only near to the series on him and movies documentaries and go productions but also music games and exclusives events in addition as a step forward into the technological evolution platform take on began activating the i have diabetes that says alex a sensory solutions to it and then logical customers which allows clients to connect to a digital service from the traditional cable connection without a decoder the senate sensitive will continue to expand during the rest of twenty twenty two furthermore during the third this quarter telecom last flow flex a prepaid flexible pay tv service that enables lions to hire the service for a few days period article in real terms decreased by and eighteen point one percent to two thousand six hundred and twenty point nine faces during nine months twenty two months a to increase to one three three percent please turn to slide sense in august twenty twenty the argentine government is has decreased six ninety six twenty twenty vader from from by congress it's declaring mobile six boys problem and pay tv as public essential services and freezing their prices until the end of twenty twenty one and saving enough come as a regulatory agency in charge of enforcing the degree and regulating the industry practices it's like as it has been sadness in court by the industry in general and twenty twenty one philip was granted a preliminary injunction be accessed several sections of the decrease which has been accepted last time in october october twenty twenty two although we feel that the final ruling regarding the underlying issue is imperative to guarantee the health of the industry as a consequence of to sanctions telecom can manage pricing policy of services as the for the decrease in he says twenty twenty the company has been trying to offset the inflation impact on revenues and costs with price increases suspended and twenty twenty and the increasingly high inflation the coverings to is a challenge year over year inflation as of september twenty twenty two and two eighty three percent while inflation for the first nine months of twenty twenty two amounted to sixty six point one percent during january to april and july twenty twenty two are subsidiary increased prices on all of its services and again in september and november twenty two while a for mobile services and october twenty two four six services well the practice for increased by seventeen percent for have paid enough to twenty percent for free fate services brava prices for xp itself services increased by ninety percent and prices for a sexy and cyber to the home services increased by up to fifteen percent they tv services were increased by up to nineteen percent and premium services up to fifteen percent prices of six for basic services were increased by up to nineteen percent his price increases have resulted in higher full in nominal terms across all services as shown in exhibits nineteen to twenty two the nominal price increases were not enough to offset enter an old free inflation eighty three percent here we're here as of september or something is lower revenues one ushered in clumps and faces the company will continue to monitor it's construct structure competitive environment and client behavior and household income in order to decide on future price increases to help compensate for inflation and maintain sustainability let's move to the next slide for a discussion of soft structure before we discussed quarter over quarter of it's a performance amongst the most significant operating costs and expenses are salary see for service maintenance than two years and supply costs taxes and fees was their regulatory authority and programming and content costs on flight eleven for show the performance of is a beast and the behavior of different thoughts on sense of revenue some costs the company continues with it's efforts to expand efficiency and has shown some positive results despite the challenging economic context operating costs excluding cost of equipment and handsets to twist in real terms nine percent most of the company soft components decrease in real terms reflecting efficiencies except for employee costs which increased above inflation as a result of severance payments which amounted to six point two billion from sleep point eight billion and search for the twenty one and agreements reach with their unions as a result operating costs decrease ten percent in real terms and driven by the reduction in revenue and be so decreased by thirty percent a real terms while arts and contracted to twenty four point five percent margin for the effect of severance payments was twenty eight point seven percent from thirty one point six per cent concert quarter twenty one
spk_8: next sites these
spk_1: and third quarter twenty two cats as a percentage of revenue was twenty point six percent lower than the same period of the previous year thanks catholics have made me advocated to network and technology ancestor my friends equipment or see be a balance was allocated to or international operations about away and the doing yes or quarter twenty to thirty four for new mobo sites were deployed and more than five hundred existing site for upgraded the company has been focused on expanding and cyber to the home network for farming and overlay with a fiber to the home over the age of see network and increasing it's upstream capacity
spk_3: in it isn't steadicam expanded it's seibert to home network in the promise of mendoza over five hundred and fifty new blocks delay bombers also fire needs pioneered the fancy deployment in argentina and september twenty twenty two it deployed one hundred and nine sides city as a site that connection speeds up to sixteen said
spk_1: device and expect to have it to so of one hundred and seventy sites working with the dss technology by the end of the year argentina's government is working two oxen side see spectrum frequencies during twenty twenty three the graphics program will continue evolving according to seen as economic conditions network performance and customers requirements going to set up by financial position as for cytosine since september twenty twenty two don't we have reported a total sense of depth of four hundred million faces and that type of three hundred and fifty nine point three billion pesos equivalent of two point four billion in new stars one hundred percent of the death is that the operating level and telecom argentina as the total deaths sixty four sixty two point four percent is dollar denominated thirty point six percent is in argentine spaces including dollar link logan emissions and the rest is in one and years and been named are you are us dollar sauces debt is approximately six point five percent from twenty twenty three to twenty twenty six debt maturities remain manageable within the range of five hundred to six hundred million dollars each year and under the current central bank regulation status on has access to the fx market to attendants maturity the company expects to continue accessing the local capital markets for any potential financing not that to adjusted ebitda covers ratio as of the end of september twenty twenty two was two times essences or cements we are now ready to take your questions chat
spk_0: thank you at this time we will open the floor for your questions if you would like to ask the question please type it in the box and click sense luna pause for a few seconds in order to allow participants to write their questions thank you and again if you do have a question please type it in the boss and click send once again he will pause momentarily to assemble those questions
spk_1: hey ladies and gentlemen it appears that we have no questions at this time so i like to turn the program back over to samantha almost every for any remarks
spk_0: thank you can i think he all for your interest and see the age should you have any questions in the future do not hesitate to contact at our i our team i look forward to speaking with you regarding the fourth quarter an annual sunset twenty pages have a great day
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