Latest news with #Nilesat
Broadcast Pro
27-03-2025
- Business
- Broadcast Pro
Nilesat reports 31.83% profit growth in 2024
The Total Operating Revenues at the end of 2024 reached $101.1m, compared to $101.8m in the previous year, reflecting a slight decrease of 0.67%. The General Assembly of the Egyptian Satellite Company, Nilesat, convened on March 24, 2025, to approve the final financial statements for the fiscal year 2024. The meeting was attended by Ahmed Al-Muslimany, Chairman of the National Media Authority. During the assembly, Nilesat Chairman and CEO Sameh Katta presented the Board of Directors report, emphasising the companys resilience in overcoming economic challenges and maintaining strong financial performance for the second consecutive year. The company reported a net profit of $57.7m for 2024, marking a significant 31.83% increase from $43.8m in 2023. Katta also highlighted a notable reduction in total operating expenses, which declined by 13.35% to $58.2 million from $67.1m in the previous year. This cost optimisation strategy was implemented without compromising Nilesats high-performance standards. Despite economic difficulties in several regions within its coverage area, Nilesat successfully retained its customer base. Total operating revenues stood at $101.1m at the end of 2024, a slight decrease of 0.67% compared to the previous years $101.8m. However, gross operating profit rose by 23.85%, reaching $43m, up from $35m in 2023. The company also reported a substantial increase in interest income, which surged by 46.90% to $33.4m, up from $22.7m in 2023, due to strategic investments in Treasury Bills and Bonds. Additionally, total owners equity increased by 5.34% to $656.1m, compared to $622.9m in the previous year. As part of its financial strategy, the General Assembly approved the distribution of Dividend Coupon No. 24, granting shareholders a dividend of $0.55 per share, payable in May 2025. Expressing his gratitude, Sameh Katta commended the Board of Directors and Nilesat employees for their dedication, which contributed to the companys strong financial performance in 2024.
CairoScene
24-02-2025
- Business
- CairoScene
NileSat's 2024 Profits Surge To Nearly 32% Year-End at USD 57.7M
Egypt's NileSat posts a 31.83% profit surge in 2024, hitting $57.7M, as revenue remains steady. Feb 24, 2025 Egyptian Satellites Co SAE - Nilesat closed 2024 with net profits reaching USD 57.7 million, a 31.83% year-on-year increase. The satellite operator saw its profits climb steadily throughout 2024, with a 26.77% increase in the first nine months alone, bringing post-tax earnings to USD 40.7 million. This comes in spite of a slight dip in total operating revenue, the money NileSat earned from its core business, which reached USD 101.1 million in 2024, down from USD 101.8 million in 2023. Founded in 1996, NileSat plays a key role in Egypt's satellite communications, providing radio and TV broadcasting services across the region.e
Broadcast Pro
05-02-2025
- Business
- Broadcast Pro
Nilesat and Eutelsat discuss strategic partnership expansion
The meeting also addressed the prospects of expanding the scope of joint services to meet the needs of both the regional and international markets. Eutelsat CEO Eva Berneke has visited Nilesats Cairo headquarters, where she met with Nilesat Chairman and CEO Sameh Katta to discuss strengthening the partnership between the two satellite operators. In a joint statement, the two leaders reaffirmed their commitment to expanding collaboration in satellite operations and optimising broadcasting services to meet growing consumer demands. Katta emphasised Nilesats dedication to forging strong global partnerships to enhance its services across the Middle East and Africa, leveraging international expertise and cutting-edge technology. Eutelsat, a major player in the European satellite industry, remains a key strategic ally in this effort. During the meeting, Berneke and Katta explored ways to enhance service delivery by integrating their expertise and innovation, ensuring high-quality connectivity and entertainment solutions for diverse markets. They also discussed expanding joint service offerings, catering to the evolving needs of both regional and international audiences. By aligning their strategic goals, Nilesat and Eutelsat aim to tackle emerging challenges in the satellite communications industry while maintaining their leadership in the sector. The partnership is expected to drive technological advancements and enhanced broadcasting capabilities, reinforcing their position as key players in global satellite operations. Nilesat and Eutelsat have a history of close collaboration, with their satellites positioned at 7 and 8 degrees West, making them a primary source of channel distribution for many broadcasters and viewers. Their partnership dates back to 2005, when Nilesat leased capacity on Eutelsats HotBird 4, which was relocated to 7 degrees West and operated as Nilesat 103. In 2009, a follow-up satellite, Atlantic Bird 4A, was also leased and operated as Nilesat 104.
