Space Communications reports on the continuation of a growth trend in revenues in the third quarter of 2021

by time news

Amos 17 – Photo: PR Space Communication

“Space-Communication” reports Continued growth trend in revenue in the third quarter of 2021.
The cash balance remained strong and amounted to about $ 110 million.

Tel Aviv, November 23, 2021 Space Communications (TASE: SCC), the satellite communications provider and operator of the Amos satellite fleet, today published quarterly reports for the third quarter of 2021 in which it shows revenue growth relative to the last 20 quarters.

The improvement is due to the continued implementation of focused business activity that is strategically targeted at market segments in Africa and includes cellular and telecom companies, along with the beginning of the implementation of the change to a service company that also includes ancillary services, alongside satellite communications.

The company’s revenues in the third quarter of 2021 amounted to approximately $ 23.6 million and EBITDA amounted to approximately $ 16.7 million. This is a continuation of the growth trend in revenues compared to the last 20 quarters.

Amos-17 Advanced Satellite Revenue, which began commercial service at the end of 2019, increased by about 66% compared to the same quarter last year and the company’s cash balance remained strong and amounted to about $ 110 million.

The company reported a few days ago that a customer providing communications services in Africa via Amos-7 satellite, extended the contract period by another three years with expected multi-year revenues of about $ 3.6 million.

Dan Zichik, CEO of Space Communications – Photo: PR Space Communications

Space-Communications – Summary of financial results for the third quarter of 2021

Space Communications recorded a 7% increase in revenue, which amounted to about $ 23.6 million in the third quarter of 2021, compared to revenue of about $ 22.1 million in the corresponding quarter last year. The increase in revenues is due to an increase in revenues in the 17 ° E field of activity.

Gross profit for the quarter amounted to $ 6.9 million, compared with $ 4.1 million in the corresponding quarter last year, while operating profit for the quarter amounted to $ 4.2 million, compared to an operating profit of 1.9 in the corresponding quarter last year. The net loss in the quarter amounted to about $ 2.3 million, compared to a loss of about $ 6.0 million in the corresponding quarter last year.

The company recorded an increase in EBITDA (profit before interest, taxes, depreciation and amortization) in the quarter, which amounted to approximately $ 16.7 million, compared with approximately $ 15.8 million in the corresponding quarter last year. The increase in EBITDA was mainly due to an increase in revenue from the Amos 17 satellite.

The cash balance as of September 31, 2021 amounted to approximately $ 110 million.

The backlog amounted to approximately $ 331 million, of which the backlog for Amos 17 satellite at 17 ° E amounts to approximately $ 45 million.

Amos 17 – Photo: PR Space Communication

About Communication Space:

Space Communications, a satellite communications provider, owns Amos’ satellite fleet, which includes the advanced Amos-17 broadband digital satellite (HTS), which is expanding the company’s deployment network to Africa, the Middle East and Asia. Space Communications, founded in 1992, has established itself over the years as an innovator in its field, providing satellite connectivity, network optimization technologies and a strategic partner for its customers’ needs, working to tailor precise solutions to their specific needs and business growth. The company provides extensive and reliable coverage on Africa, Asia, Europe and the Middle East.

The company’s “Amos” satellite fleet is located in strategic skies and provides communications space with broad and reliable coverage of Africa, Asia, Europe, the Middle East and parts of the United States. Using the Amos 3 and Amos 7 satellites, located jointly at 4 ° West, Amos 4 located at 65 ° East and Amos 17 located at 17 ° East, along with an array of ground stations (Teleports) in all coverage areas, the company offers comprehensive solutions, including The rest, managed and professional services, Turn-Key solutions, Cellular Backhaul, Trunking solutions as well as satellite services for broadcast, data and broadband. The company’s customers include Internet providers, telecom and cellular operators, television broadcasters (DTH / OTT), network integrators and government agencies, for civilian and security needs.

For more information about Space-Communications, visit the company’s website:

www.amos-spacecom.com

You may also like

Leave a Comment

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