Space42 reports $118.8m profit in strong nine month performance
The company's strong nine-month performance was driven by the successful merger between telecom operator Bayanat and satellite communications firm Yahsat.
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The company's strong nine-month performance was driven by the successful merger between telecom operator Bayanat and satellite communications firm Yahsat.
Underpinning this impressive performance was revenue growth across all operating segments of the group for the first time since its initial public offering in July 2021.
The normalised adjusted EBITDA margin improved from 60.4% in H1 2020 to 60.9% in H1 2021.
Adjusted EBITDA of $1bn representing 62.6% margin with recurring operating expenses was reduced 3.7% year-on-year.
The increase in net loss was primarily the result of debt extinguishment costs associated with Iridiums refinancing of its senior unsecured notes.
