Cablevision Holding Sa Class B · BCBA:CVH
Cablevision Holding Sa Class B — Q2 2026 Earnings Presentation
18 slides from Cablevision Holding Sa Class B's earnings presentation, Aug 11, 2026
Slide 1: First Half and Second Quarter 2026 Results
First Half and Second Quarter 2026 Results August 11 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 , – August 11 Q & A Session 26 Results 1H&2Q 3
Slide 4: Macroeconomic Environment
Macroeconomic Environment Key Indicators Inflation (1) Country Risk (3) Montly inflation (Right Axis) YoY inflation (Left Axis) JPMorgan EMBI+ S&P upgraded Argentina’s sovereign 650 rating to B - 300 2024 Inflation 5 600 Presentation of 250 118% 2025 Inflation 4 3.4 550 gov. financing 200 32% progra
Slide 5: Argentina & Company - Latest Events
Argentina & Company - Latest Events Income Statement & Operating Results Financial Debt 2026 th , – August 11 Q & A Session 26 Results 1H&2Q 5
Slide 6: Highlights
Highlights • Growth in subs in Internet and Pay TV driven by the FIFA World Cup. • Higher ARPUs in real terms in mobile services. • Significant Margin Expansion both excluding TMA effect and at TMA level. • Deconsolidation of Microsistemas following the joint venture with 2026 Banco Macro. th , – Au
Slide 7: Income Statement 1H26 & 1H25
Income Statement 1H26 & 1H25 Exhibit 1: Revenues & EBITDA 1 1 1H26 1H25 Exhibit 2: Revenues & EBITDA Exhibit 3: Net Income 1H26 AR$ MM AR$ MM AR$ Bn 4,477,637 IAS 29 5,075,511 1,805.4 284,914 233,216 Nominal Pesos 932,242 EBTIDA Margin 452.8 1,283,320 1,142.5 606.2 32.8 849.2 3,036,846 2,209,320 4,7
Slide 8: Income Statement 2Q26 & 2Q25
Income Statement 2Q26 & 2Q25 Exhibit 5: Revenues & EBITDA 1 2Q25 1 2Q26 Exhibit 7: Revenues Breakdown 2Q26 Exhibit 6: Revenues & EBITDA Constant AR$ in MM Constant AR$ in MM 2,558,330 2,549,355 50,570 49,046 4% 10% 515,560 11% 1% 678,297 1,573,134 22% 1,332,822 53% 2,507,760 36.6% 27.5% 936,150 2026
Slide 9: Results of the Incorporation of TMA
Results of the Incorporation of TMA 2Q26 & 2Q25 Exhibit 8: Network coverage Exhibit 9: Subs Subs in Thousands Subs in Thousands 19,509 2,080 Only TEO 1,659 435 Mobile Telephony Fixed Telephony Broadband Pay TV TEO + Exhibit 10: Revenues & EBITDA 1 TMA AR$ MM 947,721 922,403 2026 th , – August 11 605
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 53% +7% 1,349,425 1,265,270 IAS Adjustment 332,298 +9% 762,756 697,187 1,323,664 Nominal Revenue 932,972 Constant Pesos 2Q25 2Q26 2Q25 2Q26 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 10% Subs in Thousands AR$ MM <100Mbs -1.2% Personal BB Subs >100Mbs 1,110,152 1,096,975 Movistar BB Subs 22,735 IAS Adjustment 4,111 4,221 300,757 8% 1% 547,566 Broadband 22% 396,728 1,
Slide 12: Income Statement - 2Q26 Expenses Breakdown
Income Statement 2Q26 Expenses Breakdown Exhibit 21 : 2Q26 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 34% Programming and Content Costs 6% Commission
Slide 13: Income Statement - 2Q26 & 2Q25 yoy figures
Income Statement 2Q26 & 2Q25 yoy figures Exhibit 22: EBITDA Evolution 2Q26 vs 2Q25 % yoy, AR$ MM 730,128 (18.5%) (9.1%) 111,129 (13.9%) (5.9%) 18,349 7,805 6,135 3.1% (14.4%) 4,874 3,814 21,413 31.2% 12,697 8,624 54,249 2.9% 6.2% 494,950 46,991 (16.4%) 2026 Revenues Revenues Co
Slide 14: Capex
Capex 2Q26 & 2Q25 yoy figures Exhibit 23: Investments AR$ Bn & % over Total Revenues 222 sites were upgraded. Rights of Use from leases TMA CAPEX PP&E and intangible assets 17.8% 21.0% FTTH network cover increased by 706,000 households. +18% 536,313 453,502 46,066 2026 61,082 163,362 th , 146,134 –
Slide 15: Argentina & Company - Latest Events
Argentina & Company - Latest Events Income Statement & Operating Results Financial Debt 2026 th , – August 11 Q & A Session 26 Results 1H&2Q 15
Slide 16: CVH Consolidated Financial Debt
CVH Consolidated Financial Debt Exhibit 24: CVH Consolidated Debt Profile as of June 30 th , 2026 3,726 US$ MM ARS CNY 331 Dollar Linked GUA 226 500 500 454 USD 62 389 330 347 82 309 298 300 300 2,733 101 230 98 356 289 278 92 65 363 19 16 56 21 33 20 74 2026 2027 2028 2029 2030 2031 2032 2033 2034
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 25.1% 20.9% 20 13.5% 10 3.2% 0.2% 2.1% 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 2Q26
Slide 18: Argentina & Company - Latest Events
Argentina & Company - Latest Events Income Statement & Operating Results Financial Debt 2026 th , – August 11 Q & A Session 26 Results 1H&2Q 18