Thursday 23 Jan
The Egyptian Satellite Company (Nilesat) announced a significant increase in its profitability for the year ended December 31, 2024. In a statement to the Egyptian Exchange, the company revealed a 31.8% year-on-year surge in profits, reaching $57.68 million compared to $43.75 million in 2023.
While revenues slightly declined to $101.14 million in 2024 from $101.82 million in the previous year, Nilesat demonstrated strong operational efficiency, leading to this substantial profit growth.
The company's robust performance continued throughout the year, with profits reaching $40.66 million in the first nine months of 2024, a notable increase from $32.07 million in the same period of 2023.
