Sony Pixel Power calrec Sony

Yahsat First Half Revenues Up by 8.1% to record levels, with Net Income Increasing by 50.7...

09/08/2022

Abu Dhabi, United Arab Emirates, 9 August 2022: Al Yah Satellite Communications Company PJSC ( Yahsat or the Group ) listed on the Abu Dhabi Securities Exchange ( ADX ) under (SYMBOL: YAHSAT) (ISIN: AEA007501017), the UAE's flagship satellite solutions provider, today announced its financial results for the six-month period ended 30 June 2022 ( 1H22 ).

1H22 Highlights

Revenue of AED 755 million [USD 206 million], up 8.1% year-on-year, underpinned by double-digit growth in Managed Solutions and Mobility Solutions

Adjusted EBITDA of AED 448 million [USD 122 million], up 5.3% year-on-year, delivering a robust margin of 59.3%

Net Income of AED 167 million [USD 45 million], up 50.7% year-on-year, driving a strong net margin of 22.1%

Contracted future revenue of more than AED 7.7 billion [USD 2.1 billion], equivalent to 5.2 times FY2021 annual revenue

Strong financial position and high visibility on future cash flows underpin ability to invest in growth and sustain attractive dividend policy

On track to grow FY2022 dividend by at least 2% to 16.12 fils [USD 4.39 cents] per share or AED 393 million [USD 107 million], split into two equal installments payable around October 2022 and May 2023

Lower end of FY2022 revenue guidance increased to AED 1,542 million [USD 420 million] from AED 1,524 million [USD 415 million]; all other guidance remain unchanged

Musabbeh Al Kaabi, Chairman of Yahsat, commented:

Against a backdrop of challenging global economic headwinds, we are delighted to record our highest ever first-half revenue whilst significantly growing Adjusted EBITDA and net income. This reflects the strength of our business underpinned by strong contracted future revenue and positive momentum across operating segments. In light of our strong year-to-date performance, the Board of Directors' confidence in future cash flow generation, ability to grow the business and financial strength of the Company, we are reiterating our commitment to deliver attractive shareholder returns.

Ali Al Hashemi, Group Chief Executive Officer of Yahsat, commented:

Yahsat has delivered exceptional results, recording its highest-ever first half revenue and demonstrating our performance-driven culture to deploy innovative capabilities and grow the business. Our contracted future revenue exceeds AED 7.7 billion, equivalent to 5.2 times FY2021 annual revenue. Looking ahead, we remain on track to bring into commercial service our Next Generation Satellite, Thuraya 4-NGS, in the second half of 2024 whilst two new satellites, Al Yah 4 and Al Yah 5, are under consideration for launch in 2026. We remain very confident in both our short-term and long-term outlook, and have accordingly increased the lower end of our revenue guidance for FY2022, whilst reiterating our commitment to pay a progressive dividend.

We remain committed to pursuing and launching new growth opportunities across the business and we are confident that Yahsat's robust balance sheet, business resilience and track record in delivering exceptional results will enable us to capture significant value to drive long-term growth.

Strong first-half results

Yahsat's growth momentum continued in 2Q22 with revenue of AED 392 million [USD 107 million], an increase of 6.9% year-on-year. This resulted in 1H22 revenue growth of 8.1% year-on-year to AED 755 million [USD 206 million]. Both Managed Solutions and Mobility Solutions performed exceptionally well with 1H22 revenues increasing by 35.1% and 24.1% respectively.

2Q22 Adjusted EBITDA of AED 235 million [USD 64 million] increased by 3.9% year-on-year, generating a healthy margin of 59.8%, while net income (profit attributable to the shareholders) of AED 93 million [USD 25 million] increased by 77.9% year-on-year. On a year-to-date basis, the Group recorded 1H22 Adjusted EBITDA growth of 5.3% and an increase in net income of 50.7%, resulting in a solid net income margin of 22.1%.

As at 30 June 2022, the Group's contracted future revenue remained strong at more than AED 7.7 billion [USD 2.1 billion], equivalent to around 5.2 times FY2021 annual revenue representing an increase of 4.1% since the start of the financial year, underpinned by the 5-year AED 909 million [USD 247 million] managed services mandate awarded by the UAE Government in February 2022.

Attractive dividend outlook

Yahsat reiterates its commitment to grow its dividend by at least 2% per year, reflecting the Board of Directors' confidence in the cash flow generation and overall financial strength of the business. For financial year 2022, the total expected dividend is a minimum of 16.12 fils per share [US Cents 4.39], split into two equal instalments payable around October 2022 and May 2023 respectively. This represents a total dividend payment of AED 393 million [USD 107 million]. The Company's dividend policy is well supported by its high cash conversion (93.1% in 1H22), robust balance sheet (0.9x Net Debt/EBITDA as at 30 June 2022) and a strong discretionary free cash flow1 (expected to be approximately two times FY2022 dividend payment).

Increasing minimum revenue guidance

In view of the strong 1H22 performance and considering that approximately 90% of the remaining projected revenue for FY2022 is already secured (based on the low end of its revenue guidance), Yahsat has decided to narrow the range of its FY2022 guidance provided on 1 March 2022. The Company now raises its projected 2022 revenues to at least AED 1,542 million [USD 420 million] with the upper end of the range unchanged at AED 1,616 million [USD 440 million]. All other guidance remain unchanged.

Senior management appointment

On 1 July 2022 (a post-period event), Yahsat announced the appointment of Mr. Sulaiman Al Ali as Chief Commercial Officer ( CCO ). Mr. Al Ali has assumed the role having been with Yahsat for eight years, previous
LINK: https://www.yahsat.com:443/en/news-and-media/news/2022/yahsat-1h22-res...
See more stories from yahsat

Most recent headlines

05/01/2027

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be demoed at CES 2026

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...

04/08/2026

Dalet Announces Commercial Availability of Dalia, Bringing Media-Aware Agentic AI to Enterprise Productions

Dalet, a leading technology and service provider for media-rich organizations, t...

04/07/2026

Detective Conan: Fallen Angel of the Highway Opens in Dolby Cinemas Across Japan, Presented in Dolby Atmos and Dolby ...

April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...

01/06/2026

Dolby Sets the New Standard for Premium Entertainment at CES 2026

January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026 Throughout the week, Dolby brings to life the latest innovatio...

21/05/2026

2026 delegation for Partner with Australia (UK) initiative announced

2026 delegation for Partner with Australia (UK) initiative announced 21 May 2026 Screen Australia and Ausfilm have today announced the delegation for the 2026 ...

21/05/2026

Beeble launches Canvas, a node-based AI compositor for VFX and Virtual Production pipelines

Beeble launches Canvas, a node-based AI compositor for VFX and Virtual Productio...

21/05/2026

Shelly Johnson Elected President of American Society of Cinematographers

Shelly Johnson Elected President of American Society of Cinematographers Brie Clayton May 20, 2026 0 Comments The American Society of Cinematographers...

21/05/2026

ARRI expands Management Board to accelerate next phase of growth and innovation

ARRI expands Management Board to accelerate next phase of growth and innovation Brie Clayton May 20, 2026 0 Comments ARRI expands its Management Board...

20/05/2026

New Nissan Stadium Is First NFL Venue With Permanent Built-In Music Stage

True to the Music City theme, the Tennessee Titans plan to make live music a prominent fixture on game days at the new venue Reflecting the continuing converge...

20/05/2026

NHL Taps Honeywell To Make Arenas, Facilities More Energy-Efficient

The long-term goal is innovation for the next generation of hockey rinks at both the professional and the community level The National Hockey League (NHL) toda...

20/05/2026

A Look Into the Future: What It Takes To Power the Next Generation of Sports Stadiums

End-users and vendors alike work toward cost-effective yet high-quality solution...

20/05/2026

Nasvhvilles New Nissan Stadium To Host Super Bowl LXIV in 2030

The National Football League has announced that Nashville will host Super Bowl LXIV in 2030 at the new Nissan Stadium. The announcement was made at the NFL Spri...

20/05/2026

NFL Awards Minnesota as Host Site of 2028 NFL Draft

The NFL has announced that the 2028 NFL Draft presented by Bud Light will take place in Minnesota, uniting fans from around the world to celebrate one of the mo...

20/05/2026

Lawo Highlights Edge One at InfoComm 2026

As professional AV workflows continue to evolve, expectations around audio, video, networking, and control are rising rapidly. At InfoComm 2026 in Las Vegas, La...

20/05/2026

Haivision to Showcase Video Wall, IPTV, and Ultra-Low Latency Video Innovations at InfoComm 2026

Haivision will showcase its latest innovations at InfoComm 2026, taking place fr...

20/05/2026

Spotify House Returns to CMA Fest With 3 Days of Nonstop Country Music

For the seventh year, Spotify is returning to CMA Fest with Spotify House, the festival's premiere destination for fans. We're taking over downtown Nash...

20/05/2026

Aero 2 from Acustica Audio

Amp-simulation software expanded Acustica Audio's latest release greatly expands on their amp-simulation platform, turning it into a complete amplifica...

20/05/2026

Arturia update the KeyLab Mk3

MainStage integration, Analog Lab improvements & more Arturia have just announced the release of an update that brings an assortment of new features to thei...

20/05/2026

SGL Carbon holds successful Annual General Meeting with strong approval of proposed resolutions

At the Annual General Meeting held on May 20, 2026, the shareholders of SGL Carb...

20/05/2026

From Gulkula to the nation: Yothu Yindi Foundation and NITV deepen national access to Garma Festival

From Gulkula to the nation: Yothu Yindi Foundation and NITV deepen national acce...

20/05/2026

SBS appoints David Fernandez as National Manager, Digital & TV Sales

SBS appoints David Fernandez as National Manager, Digital & TV Sales 20 May, 2026 Media releases SBS has appointed David Fernandez as National Manager, Dig...

20/05/2026

Rohde & Schwarz and INFOZAHYST: A strategic alliance set to redefine modern defense

Rohde & Schwarz and INFOZAHYST: A strategic alliance set to redefine modern defe...

20/05/2026

L3Harris Achieves Major Milestones With Latest Series of Rotating Detonation Engine Tests

A Rotating Detonation Engine being hot fire tested at Purdue University's Zu...

20/05/2026

VAMPIRE Confirms Integrated Capability During Live Exercises

A U.S. Army VAMPIRE system, assigned to Bravo Battery, 1st Battalion, 51st Air Defense Artillery Regiment, 7th Infantry Division/Multi-Domain Command - Pacific ...

20/05/2026

NCAA Tournaments Spark March Madness for Paramount and Warner Bros. Discovery in Nielsen's The Gauge

Cable Captures Only Monthly Increase Among Viewing Categories in March, Earns it...

20/05/2026

The Gauge: Poland | April 2026

April brought a symbolic decrease in the overall time spent in front of television screens. On average, Poles watched video content for 3 hours and 51 minutes a...

20/05/2026

DirecTV Asks FCC to Block Scripps' INYO Acquisition

Share Copy link Facebook X Linkedin Bluesky Email...

20/05/2026

RTS Technology Centre Launches the RTS Technology Awards...

The Royal Television Society Technology Centre today announces the launch of the RTS Technology Awards 2026, celebrating excellence, innovation and achievement ...

20/05/2026

Lightware powers immersive video spectacle for The Hunger...

In the heart of London's financial district, the new purpose-built Troubadour Canary Wharf Theatre invites audiences to experience Suzanne Collins' inte...

20/05/2026

New LiveU LU900Q Powers Record Breaking Broadcast of the...

LiveU, the leader in live IP-video solutions, today announced that production powerhouse BCC Live successfully deployed the new LU900Q intelligent production un...

20/05/2026

Nella Mente di Narciso Docuseries Uses Blackmagic Design Workflow

Nella Mente di Narciso Docuseries Uses Blackmagic Design Workflow Brie Clayton May 19, 2026 0 Comments PYXIS 6K full frame camera and DaVinci Resolve ...

20/05/2026

Beeble launches Canvas, a node-based AI compositor for VFX and Virtual Production pipelinesx

Beeble launches Canvas, a node-based AI compositor for VFX and Virtual Productio...

20/05/2026

DSPolitical and FreeWheel Partner on Political CTV Ads

Share Copy link Facebook X Linkedin Bluesky Email...

20/05/2026

Amazon, Netflix and Google to Capture Half of CTV Ad Market by 2030

Share Copy link Facebook X Linkedin Bluesky Email...

20/05/2026

Roku Introduces 'Creator Hub

Share Copy link Facebook X Linkedin Bluesky Email...

20/05/2026

First Nations Factual Co-production Development Fund launched to elevate Indigenous storytelling in global markets

First Nations Factual Co-production Development Fund launched to elevate Indigen...

20/05/2026

TLC Announces All-Star Comedy Line-Up for Mock the Week: Summer Specials' on TLC

TLC Announces All-Star Comedy Line-Up for Mock the Week: Summer Specials' o...

20/05/2026

'One Hundred Years of Solitude' Concludes This August, With Part Two Premiering on the 5th and the Grand Finale on the 26th

Back to All News One Hundred Years of Solitude Concludes This August, With Part...

20/05/2026

Beloved NHK Dramas to Stream on Netflix Worldwide Starting June 22

Back to All News Beloved NHK Dramas to Stream on Netflix Worldwide Starting June 22 Entertainment 20 May 2026 GlobalJapan Link copied to clipboard Netflix...

20/05/2026

Dolby Recognized as 2025 Supplier of the Year and Overdrive Award Winner by General Motors

May 20 2026, 06:00 (PDT) Dolby Recognized as 2025 Supplier of the Year and Over...

20/05/2026

Two cooks shortlisted for the final of RT Today's TV Home Cook Competition

Mayo's Dee Freney and Margaret Leahy from Galway have reached the final of RT Today's TV Home Cook competition. Both contestants will cook again live...

20/05/2026

RT IN FULL BLOOM AT BORD BIA BLOOM 2026 WITH LIVE BROADCASTS, MUSIC, CHAT AND MUCH MORE

RT IN FULL BLOOM AT BORD BIA BLOOM 2026 WITH LIVE BROADCASTS, MUSIC, CHAT AND M...

19/05/2026

Young Journalist' finalists visit London for training and networking

The winner of Thomson Foundation's Young Journalist of the Year 2025, Tracy Bonareri Onchoke, and runner up Wangu Kanuri enjoyed a three-day trip to London ...

19/05/2026

Cisco and USGA Announce Multiyear Partnership Extension

Cisco and the USGA have announced a multiyear extension of their partnership, which began in 2018. Cisco serves as the Official Technology Partner of the USGA, ...

19/05/2026

Urban Edge Network and Spiideo Partner to Enhance NAIA Sports Streaming

Urban Edge Network (UEN), a streaming platform for NAIA sports, has announced a partnership with Spiideo to provide streaming and production tools to UEN's ...

19/05/2026

Warner Bros. Discovery Announces Expanded Roland-Garros 2026 Coverage

Warner Bros. Discovery (WBD) will provide live coverage of all 900 Roland-Garros matches across its platforms beginning with qualifiers on May 18. In Europe, 21...

19/05/2026

Tubi Launches FIFA World Cup 2026 FOX Hub

Tubi, Fox Corporation's free streaming service, has announced the launch of the FIFA World Cup 2026 FOX Hub, a dedicated destination for World Cup programmi...

19/05/2026

Telefnica and Sony Conduct 5G mmWave Broadcast Trial at Movistar Arena

Telef nica, in collaboration with Sony, has conducted a 5G connectivity trial at the Movistar Arena in Spain using the 26 GHz millimetre wave (mmWave) band. The...

19/05/2026

Ross Production Services Integrates Calrec Argo M into New Hypermax-1 Truck

Ross Production Services (RPS) has installed a Calrec Argo M console into its new Hypermax-1 remote production truck, replacing one of three Argo S consoles pre...

19/05/2026

Panasonic Projector and Display Acquires HIVE Media Control

Panasonic Projector and Display Corporation has announced the acquisition of 100% of the shares of UK-based media technology company Hive Media Control Ltd. (HI...