Cablevision Holding Sa Class B · BCBA:CVH
Cablevision Holding Sa Class B — Q1 2026 Earnings Presentation
18 slides from Cablevision Holding Sa Class B's earnings presentation, May 13, 2026
Slide 1: First Quarter 2026 Results
First Quarter 2026 Results May 13 th , 2026 www.cvh.com.ar Please consider the environment before printing this presentation IR@cvh.com.ar
Slide 2: Disclaimer
Disclaimer The information contained herein has been prepared by Cablevisión Holding S.A . (“CVH”) solely for use at this presentation . The information herein is only a summary and does not purport to be complete . This presentation is strictly confidential and may not be disclosed to any other per
Slide 3: Argentina & Company - Latest Events
Argentina & Company - Latest Events Income Statement & Operating Results Financial Debt 2026 th , – May 13 Q & A Session 1Q 26 Results 3
Slide 4: Macroeconomic Environment
Macroeconomic Environment Key Indicators Inflation (1) Gap vs. Official FX(3) Official FX Inflation- Montly inflation (Right Axis) YoY inflation (Left Axis) adjusted EoP Crossborder (CCL) FX bands 1.757 300 12 1.800 2024 Inflation 1.481 250 10 1.600 118% 1.400 200 2025 Inflation 8 1.400 150 32% 6 1.
Slide 5: Argentina & Company - Latest Events
Argentina & Company - Latest Events Income Statement & Operating Results Financial Debt 2026 th , – May 13 Q & A Session 1Q 26 Results 5
Slide 6: Highlights
Highlights • 1Q26 include results of Telefónica Móvil Argentina ('TMA'), which was acquired by Telecom Argentina on February 24, 2025, hence, the results for the 1Q26 aren’t comparable to the results of 1Q25 as they include results of TMA from March 1st 2025 onwards. • Significant Margin Expansion e
Slide 7: Income Statement
Income Statement 1Q26 & 1Q25 Exhibit 1: Revenues & EBITDA 1 1 1Q26 1Q25 Exhibit 2: Revenues & EBITDA Exhibit 3: Net Income 1Q26 AR$ MM AR$ MM AR$ Bn 1,806,103 IAS 29 2,357,686 320.7 74,849 79,757 814.2 Nominal Pesos 333,103 EBTIDA Margin 481,202 37.0 628.9 622.0 523.7 1,463,712 878,141 2,282,837 34.
Slide 8: CVH (Excluding TMA) - Income Statement
CVH (Excluding TMA) - Income Statement 1Q26 & 1Q25 Exhibit 5: Revenues & EBITDA 1 1Q25 1 1Q26 Exhibit 7: Revenues Breakdown 1Q26 Exhibit 6: Revenues & EBITDA Constant AR$ in MM Constant AR$ in MM 1,504,174 1,501,122 3% 9% 1% 15% 931,863 996,987 25% 46% 38.0% 33.6% 572,311 504,135 2026 Fixed Telephon
Slide 9: Results of the Incorporation of TMA
Results of the Incorporation of TMA 1Q26 & 1Q25 Exhibit 8 : Network coverage Exhibit 9: Subs Subs in Thousands Subs in Thousands 19,229 Only TEO 2,081 1,637 410 Mobile Telephony Fixed Telephony Broadband Pay TV TEO + Exhibit 10 : Revenues & EBITDA 1 TMA AR$ MM 304,981 853,512 2026 214,256 611,606 th
Slide 10: Revenue Breakdown & KPI - Mobile services
Revenue Breakdown & KPI Mobile services Exhibit 11 : Mobile Services Revenues Exhibit 12 : Excl. TMA Effect AR$ MM AR$ MM 52% +50% 1,235,803 822,400 +9% 696,057 638,838 IAS Adjustment 217,540 1,197,636 Nominal Revenue 604,860 Constant Pesos 1Q25 1Q26 1Q25 1Q26 Exhibit 13: Mobile Personal (1) Exhibit
Slide 11: Revenue Breakdown & KPI - Fixed services
Revenue Breakdown & KPI Fixed services Exhibit 16: Fixed Services Revenues Exhibit 17: Broadband Subs and BB Speed AR$ MM Subs in Thousands 18.9% 11% 1,026,800 4,053 4,188 34,032 IAS Adjustment 2% 863,671 10% 234,325 493,151 Broadband 1,562 1,637 90% 98% 313,143 22% 258,295 Fixed Telephony 148,753 1
Slide 12: Income Statement - 1Q26 Expenses Breakdown
Income Statement 1Q26 Expenses Breakdown Exhibit 21 : 1Q26 Expenses Breakdown % yoy, AR$ MM 3% Employee benefit expenses and severance payments 4% 0% Fees for Services, Maintenance, Materials and Supplies 5% Taxes and Fees with the Regulatory Authority 33% Programming and Content Costs 7% Commission
Slide 13: Income Statement - 1Q26 & 1Q25 yoy figures
Income Statement 1Q26 & 1Q25 yoy figures Exhibit 22 : EBITDA Evolution 1Q26 vs 1Q25 % yoy, AR$ MM 723,492 151,181 (67.9%) 2.5% (31.6%) (14.7%) (14.3%) 19,659 504,135 32,758 5,506 11,412 2,074 1,782 3,766 27,656 35,810 19,526 (39.7%) 1.7% 1.7% 1.8% 4.2% Revenues Revenues Cost of
Slide 14: Capex
Capex 1Q26 & 1Q25 yoy figures Exhibit 2 3 : Investments AR$ Bn & % over Total Revenues 778 sites were upgraded. Rights of Use from leases TMA CAPEX PP&E and intangible assets FTTH network covers 287,000 households. 16.2% 21.8% +76% 513,992 70,949 11,390 blocks with FTTH overlay. 120,577 292,277 2026
Slide 15: Argentina & Company - Latest Events
Argentina & Company - Latest Events Income Statement & Operating Results Financial Debt 2026 th , – May 13 Q & A Session 1Q 26 Results 15
Slide 16: CVH Consolidated Financial Debt
CVH Consolidated Financial Debt Exhibit 24: CVH Consolidated Debt Profile as of March 31 st , 2026 3,909 US$ MM ARS CNY 410 Dollar Linked GUA 394 531 485 500 500 USD 226 367 62 356 82 274 296 300 300 2,690 148 234 98 285 278 35 376 37 55 20 19 39 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 203
Slide 17: Income Statement - YoY Variations (Excluding TMA)
Income Statement YoY Variations (Excluding TMA) Exhibit 26: EBITDA Evolution YoY Revenue & EBITDA Var. (%) Revenues EBITDA 30 20.9% 20 13.5% 10 3.2% 0.2% 0 -7.1% -1.8% -7.7% -8.3% -6.5% -10 -6.5% -11.0% -12.0% -9.3% -8.1% -20 -14.5% -22.6% -30 2019 2020 2021 2022 2023 2024 2025 1Q26 Exhibit 27: EBIT
Slide 18: Argentina & Company - Latest Events
Argentina & Company - Latest Events Income Statement & Operating Results Financial Debt 2026 th , – May 13 Q & A Session 1Q 26 Results 18