(MENAFN- AzerNews)
Qabil Ashirov read more The Space Agency of the Republic of Azerbaijan (Azercosmos)
ended last year with a net profit of AZN1.4m ($0.82m), Azernews reports citing the report of Azercosmos
dedicated to the results of the end of 2022.
Azercosmos told that the company ended 2022 with a profit. The
total profit of the agency was AZN4.4m ($2.6m), and the net profit
was AZN1.4m ($0.82m).
Generally, the main part of Azercosmos revenues is formed from
the export of satellite services. Azercosmos ranks first among
state and non-state exporters in terms of export volume in the
service sector. In 2022, the agency's export portfolio for
Azerspace-1, Azerspace-2, and Azersky satellites was mainly made up
of leading companies from countries such as Great Britain, France,
Luxembourg, the United Arab Emirates, and Pakistan. This, in turn,
means, on the one hand, the strengthening of the liquidity of
Azercosmos and, on the other hand, a stable flow of foreign
currency to Azerbaijan.
Established in 2010, Azercosmos is the only satellite operator
in the South Caucasus region that provides high-quality satellite
services for telecommunications and geographic intelligence.
Azercosmos along with Azerspace-1, Azerspace-2, and Azersky
satellites, facilitates the reception of signals from satellites of
other satellite operators via a fiber-optic network.
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