EGYPTIAN SATELLITES (NILESAT)
EGSA
Financial ResultsNeutral News
NileSat Soars to $21.5M H1-24 Profit Amid Revenue Dip
NileSat reports 11% YoY profit surge in H1-24 despite slight revenue decline, with mixed quarterly performance trends.
August 14, 2024 at 7:38:00 AMScore: 68
NileSat, Egypt's leading satellite operator, reported a robust 11% year-on-year (YoY) surge in net profits for the first half of 2024, reaching $21.47 million compared to $19.30 million in H1-23. Despite this growth, revenues dipped slightly to $50.80 million from $51.19 million annually. Earnings per share (EPS) climbed to $0.58 in 6M-24, up from $0.52 in H1-23. Total assets softened to $653.48 million by June 2024, down from $660.88 million at 2023 year-end. In Q2-24, net profits jumped 27% YoY to $15.09 million, though quarterly revenues edged lower to $25.35 million from $25.60 million. Earlier, Q1-24 saw a 14.66% YoY profit drop to $6.38 million.
Recommended Actions
- Hold shares pending revenue stabilization
- Monitor Q3-24 revenue trends
- Compare with regional telecom sector performance
- Watch for management commentary on asset optimization
- Track institutional investor positioning
Positive Aspects
- Double-digit profit growth
- 27% Q2 profit surge
- EPS expansion
Negative Aspects
- YoY revenue contraction
- Q1-24 profit decline
- Total asset reduction
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