NileSat sees profit fall

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Cairo-based Nilesat, which serves the MENA region, has again seen profit fall 22 per cent for the 9 months to September 30th.

The operator’s net profit for the 9 month period was $20.3 million(€17.7m) – down from $26.07 million in the same period last year.

NileSat is now again trading successfully with Eutelsat with whom it has reached a new, but “partial” contract agreement in place.

NileSat, generated $86.66 million in revenue in January-September 2021. The amount is an 8.3 per cent decline compared to the $93.89 million reported in 2020. According to a Cairo bourse disclosure on November 9th, in the January-June period, NileSat’s revenues declined to $59.49 million compared to $63.78 million in the previous year.

NileSat reported almost $200 million in annual revenue in 2014, but since then its revenues have seen a steady decline.

NileSat has a launch contract with SpaceX for the in-orbit delivery of its latest Nile-301 geostationary communications satellite and is expected to launch in the first quarter of 2022. NileSat-301 will deliver communications and direct digital broadcasting services to NileSat’s existing customer base and help extend the company’s footprint in new markets in North Africa, the Middle East, Sudan and East Africa.


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