Between July and September, revenues in the country were € 362 million. The update of rates and the sale of terminals with greater margin explain the increase despite having recorded falls in almost all accesses, according to its balance sheet.

Mobile lines (17 million) fell 8% year-on-year, fixed broadband accesses (1.4 million) 10% and fixed lines 13%.

The prepaid mobile segment (9.2 million) continues to decrease (-13.5%) in part due to the obligation to identify users, although without significant impact on revenue, the company explains. On the other hand, prepaid customers who frequently recharge increased by 105,000. Postpaid (7.8 million) grew 0.5% year-on-year with positive portability of 7,600 lines.

The two businesses that grow in number of customers are FTTH and pay television. They closed the quarter with 566,000 FTTX customers, 1.4 times more than a year ago, and 2.5 million units passed.

Pay-TV accesses, as Convergencialatina advanced, reached 130,000: 39,000 were connected in the quarter. And Movistar Play, launched in March, reached 142,000 active accesses as of September.

Inflation made its operating expenses to increase by 54% compared to the third quarter of 2018. OIBDA (operating income before amortization) was € 94 million: an increase of 31.5% year-on-year, and the OIBDA margin of 26 %, had a fall of 3.3 percentage points year-on-year.

The CapEx accumulated as of September, € 212 million, represents 13% of sales, and was mainly used to expand the fiber and 4G network.

The reported results are affected by Argentina's accounting treatment as a "hyperinflationary economy".