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Russian Satellite Communications Co (RSCC), which works closely with Paris-based Eutelsat, has reported a 50 per cent increase in revenues for last year.
Revenues were helped by a favourable ruling last year by a Paris court that commercial deals between RSCC and Eutelsat were valid and could not be part of any compensation claims made by the Yukos energy company against the Russian government.
RSCC operates 12 commercial satellites in positions from 14 degrees West to 145 degrees East.
RSCC is also hugely affected by currency fluctuations, and the weakness of Russia’s Ruble. However, for the year to December 31st RSCC reported overall revenues of 11.4 billion Rubles ($188.5 million), which is up 24 per cent from 2015 in Ruble terms and up 50 per cent in US dollars when applying dollar/Ruble exchange rates at year-end 2015 and year-end 2016.
Non-Russian business brought in 40 per cent of its 2016 revenues, with South Africa also helping boost income and enjoying significant growth in 2016.