Cairo-based Nilesat has declared its worst set of results for four years.

The satellite operator’s revenue has declined for the fourth successive year from $156.22 million (€149m) in 2017 to $111.76 million at the year-end December 31st 2021. This represents a Y-o-Y decrease of 10.66 per cent from US$125.1 million compared to 2020 and 28.46 per cent when compared to 2017.

However, there was some light in the quarterly numbers from Nilesat which showed that the satellite radio and television broadcasting operator’s net profit jumped by 395.26 per cent from just $2.11 million in the period ended September 30th 2021, to $10.45 million in the period ended December 31st 2021.

Meanwhile, Nilesat saw its latest satellite (Nilesat 301) successfully launched by SpaceX on June 9th. The next day it was confirmed that all was well with the satellite. Nilesat 301 is now starting its journey its designated orbital position where it will sit alongside Nilesat 201. Nilesat 201 is expected to run out of its station-keeping fuel in 2028 after some 18 years of life.

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Categories: Articles, Business, Results

Tags: nilesat, spacex