Cablevisión Holding Posts 53% Revenue Growth and 64.7% EBITDA Surge in 2025
Cablevisión Holding's 2025 revenues climbed 53.0% to Ps. 8.33 trillion on incorporation of Telefónica Móvil Argentina and higher real-term ARPUs, while operating costs excluding depreciation rose 48.5% to Ps. 5.83 trillion but would have fallen 3.7% without TMA. EBITDA rose 64.7% to Ps. 2.50 trillion, lifting margin to 30.1%, while net loss increased to Ps. 159.9 billion.
1. Consolidated 2025 Financial Highlights
Total revenues reached Ps. 8,328,814 million, a 53.0% real-term increase year-over-year driven by higher ARPUs in mobile, internet and cable services; operating costs excluding depreciation and amortization rose 48.5% to Ps. 5,825,447 million, yet would have declined 3.7% without TMA.
2. TMA Acquisition Impact
Telefónica Móvil Argentina was consolidated from March 1, 2025, accounting for the bulk of incremental revenues and costs; this acquisition skewed comparability with 2024 and underpins the surge in service revenues and associated operating expenses.
3. Profitability and Net Loss
EBITDA increased 64.7% to Ps. 2,503,367 million, lifting the margin to 30.1% from 27.9%; despite stronger operating performance, consolidated net loss reached Ps. 159,916 million, with Ps. 81,050 million attributable to equity shareholders.