It seems that the glory days at Egyptian Satellite Nilesat are well and truly over. Revenues and profits are down during the first half of the year.
Profits fell 12.2 per cent y-o-y at just $23.81 million (€26.59m), compared to $27.12 million in the same period last year.
Revenues tumbled from $73.39 million in 2018 to $65.86 million during this half-year.
As a comparison, revenues in 2015 were an impressive $188.82 million, and in 2016 $184.57 million.
Its Q2 numbers were similar. Profit for the three months were $11.38 million ($13.07m last year), while revenues were $32.86 million ($36.40m last year).
Nilesat’s share price is reflecting the fall in revenues. This past year it has traded as high as $8 per share, but it current price is around $5.60.