Azercosmos revenues increased more than by 40%


May 31, Fineko/ Azercosmos completed 2019 with net profit of AZN 3.62 million. Azerkosmos has released its financial results for 2019.

ABC.AZ informs with reference to company’s financial report that its total profit for the reported term amounted to AZN 14.04 million.

For comparison, in 2019 company's revenue increased by 41.2% (versus 2018), and the EBITDA margin from 64% up to 73%.

The geographical coverage of satellite services and the expansion of cooperation with leading international companies also played a role in this growth.

Thanks to cooperation with international companies on the use of the Azerspace-2 satellite, Azerspace's financial revenues for leasing operations increased by 2.6 times (compared with 2018) and reached AZN 12.24 million.