Nilesat Reports USD 32.4 million In Revenue During Q1 2020

Nilesat Awards Contract For Nilesat 301 New Communications Satellite
NileSat Team at CABSAT Exhibition. Source: Nilesat Website

Egyptian Satellites Company (NileSat), a satellite operator focused on the Middle East and North African market, has reported USD 32.4 million in revenue during the first quarter of 2020, a slight decline from the USD 32.9 million recorded in Q1 2019, according to the company’s unaudited financial report available to the public.

Nilesat recorded USD 10.8 million in net profit in the January-March period, about 5.3% decline from the USD 11.4 million made during the same quarter in 2019.

Nilesat sees year-on-year dip in revenue since 2014. In January, the publicly-traded company on the Egyptian Stock Exchange reported USD 130.7 million in revenue for the 2019 fiscal year; the lowest the company has recorded since the USD 200 million high in 2014.

To salvage its revenue decline and increase its capacity, Nilesat recently signed a contract with French aerospace giant Thales Alenia Space for the manufacture and delivery of a new communications satellite named NileSat 301. When in orbit, NileSat 301, which operates on Thales Alenia’s latest Satcom technologies, will boost NileSat’s capacity and enable the company to be competitive in the market.

© Space in Africa 2020

All rights reserved. Any redistribution or reproduction of part or all of the contents in any form is prohibited. You may not, except with our express written permission, distribute or commercially exploit the content. Nor may you transmit it or store it in any other website or other forms of electronic retrieval system.

New Report: The 2020 Edition of African Space Industry Annual Report is now available. It presents data and analyses on projects, deals, partnership and investments across the continent. It also provides analyses on the growing demand for space technologies and data on the continent, the business opportunities it offers and the necessary regulatory environment in the various countries.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.