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

06/10/2025

France Tlvisions Wins Prestigious 2025 EBU Technology & Innovation Award in Groundbreaking Collaboration with Dalet

France T l visions, France's leading broadcaster, has received the 2025 EBU ...

04/09/2025

Monumental Sports & Entertainment and Dalet Win Prestigious 2025 NAB Show Project of the Year Award

Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...

07/08/2025

Tata Motors & Dolby Bring Dolby Atmos to Harrier.ev, Redefining In-Car Entertainment Experience

July 8 2025, 22:30 (PDT) Tata Motors & Dolby Bring Dolby Atmos to Harrier.ev, R...

18/07/2025

Realm of Satan Disturbs the Comfortable at 2024 Sundance Film Festival

Blanche Barton, Peter Gilmore, Scott Cummings, Sundance Institute Director of Programming Kim Yutani, and Peggy Nadramia throwing horns. (Stephen Lovekin/Shutte...

18/07/2025

Give Me the Backstory: Get to Know Heidi Ewing and Rachel Grady, the Directors of FOLKTALES

By Jessica Herndon One of the most exciting things about the Sundance Film Fest...

18/07/2025

NESN Unveils Enhanced NESN 360 App for iOS, Android Devices

BOSTON Sports network NESN today relaunched the NESN 360 app with a redesigned user experience and upgrades....

18/07/2025

Berklee Singers Wow the Competition on Netflixs Building the Band

Berklee Singers Wow the Competition on Netflixs Building the Band Netflixs new music competition show features two Berklee artists looking to make their pop b...

18/07/2025

Trump Expected to Sign Bill Defunding CPB After House Approves $1B Cuts

As the House of Representatives voted early Friday morning to eliminate federal funding for public broadcasting, advocates warned that the elimination of $1 bil...

18/07/2025

Imagine Communications Sharpens Focus on Sports, Live Events Market

DENVER Imagine Communications has announced that it is deepening its commitment to the North American sports and live events market with investments in its prod...

18/07/2025

Netflix Beats Revenue, Profit Expectations

LOS GATOS, Calif. Netflix once again reported strong financial growth, with revenue increasing 16% year-over-year to $11.079 billion in Q2 2025 as net income s...

18/07/2025

Live from the 153rd Open Championship: SMT Enhances Video Board Experience; Enables Practice Scheduling for Players

Live from the 153rd Open Championship: SMT Enhances Video Board Experience; Enab...

18/07/2025

ShotTracker's Davyeon Ross on Revolutionizing Basketball On the Court and Beyond Through Tracking Tech

ShotTracker's Davyeon Ross on Revolutionizing Basketball On the Court and ...

18/07/2025

Home Pitch: How the Danish League Brought Its Live Match Production In-House

Home Pitch: How the Danish League Brought Its Live Match Production In-House Matchday Production produced 800+ matches across Denmark in its first year By Geor...

18/07/2025

Live From the 153rd Open Championship: EMG Debuts Spidercam for Golf, Expands Support for NBC Sports

Live From the 153rd Open Championship: EMG Debuts Spidercam for Golf, Expands Su...

18/07/2025

Usyk vs Dubois II: Bringing the Fight to Life with State of the Art Cameras and Graphics from DAZN and Gravity Media

Usyk vs Dubois II: Bringing the fight to life with state of the art cameras and ...

18/07/2025

Usyk vs Dubois II: DAZN's Head of Boxing Chris Glanville Talks Helicopters, a Ringwalk Spectacular and Directing the Action

Usyk vs Dubois II: DAZN's head of boxing Chris Glanville talks helicopters, ...

18/07/2025

Live From the 153rd Open Championship: NBC Expands Unilateral Effort; Shared Studio Gives Live From,' NBC Sports a Great View

Live From the 153rd Open Championship: NBC Expands Unilateral Effort; Shared Stu...

18/07/2025

Warner Bros. Discovery's Anne Graham on Training New Professionals to Ensure the Future of the Business

Warner Bros. Discovery's Anne Graham on Training New Professionals to Ensure...

18/07/2025

Live From the 153rd Open Championship: How R&A Spidercam Became a Reality for Golf Coverage

Live From the 153rd Open Championship: How R&A Spidercam Became a Reality for Go...

18/07/2025

ESPN Bulks Up Onsite Studios, Cameras, Player Mics for WNBA All-Star Weekend

ESPN Bulks Up Onsite Studios, Cameras, Player Mics for WNBA All-Star Weekend Besides the game, four studio shows will be produced onsite By Jason Dachman, Edit...

18/07/2025

The Sky Arts Awards Are Back, Live From The Roundhouse This September

Friday 18 July 2025 Credit: Marc Sethi The Sky Arts Awards will return on 16 September, once again taking place at the iconic Roundhouse in London. Produced b...

18/07/2025

2025-07-18

This month, players can dive into special crossover events featuring SpongeBob SquarePants in Snake.io+ and Crossy Road Castle, available exclusively on Apple A...

18/07/2025

Hurling Fans Flock Together for a Night of Craic agus Ceol on RT's Up For The Match this Saturday night

Up for the Match brings the fun, the passion-and a bit of Riverdance- tomorrow n...

17/07/2025

Realm of SatanDisturbs the Comfortable at 2024 Sundance Film Festival

Blanche Barton, Peter Gilmore, Scott Cummings, Sundance Institute Director of Programming Kim Yutani, and Peggy Nadramia throwing horns. (Stephen Lovekin/Shutte...

17/07/2025

Audiobooks+ Brings More Choice and Flexibility to Spotify Premium Subscribers

Spotify's goal with audiobooks is to help grow the publishing industry and create the best possible experience for booklovers, which is why we're launch...

17/07/2025

L3Harris to Expand Solid Rocket Motor Production in Arkansas

An advanced large solid rocket motor hot fire test conducted at L3Harris' Camden, Arkansas, site....

17/07/2025

L3Harris Has the Future of PNT Ready Now

L3Harris payloads and components have been on board every U.S. GPS satellite-more than 70 missions since the 1970s. Our technology is at the core of GPS availab...

17/07/2025

L3Harris Introduces Launched Effects Vehicles to Increase US Multi-Domain Superiority

L3Harris' pack of launched effects is comprised of multi-role vehicles that ...

17/07/2025

Nielsen taps Ryan Moore as Chief Business Officer of Gracenote

NEW YORK - July 17, 2025 - Gracenote, the content data business unit of Nielsen, has announced the appointment of Ryan Moore to the new role of Chief Business O...

17/07/2025

David Cohen Joins Miri Technologies as VP, Sales and Business Development

READING, Pa. Network technology startup Miri Technologies has added David Cohen as vice president, business development. He'll be tasked with expanding the ...

17/07/2025

Berklee Wins CASE Award for Standout Digital Campaign

Berklee Wins CASE Award for Standout Digital Campaign The Alumni Affairs team's Variations Signature Series earned recognition for offering an authentic p...

17/07/2025

Senate Votes to Strip Federal Funds for Public Broadcasting

Early Thursday morning, the U.S. Senate voted to cut federal funding for PBS and NPR in a bill that also included cuts for foreign aid. In a 51-48 vote, the act...

17/07/2025

British Innovation Leads the Way at IBC2025

GREAT Britain and Northern Ireland Pavilions across IBC2025 (12 15 September, RAI Amsterdam) feature a remarkable 34 companies, each providing unique, innovativ...

17/07/2025

SMPTE Forms Study Group on Content Provenance and Authenticity In Media

WHITE PLAINS, N.Y. The Society of Motion Picture and Television Engineers today introduced its Content Provenance and Authenticity (CPA) in Media Study Group (S...

17/07/2025

NBCU Reports Highest Sales Volume in History' for 2025-26 Upfronts

NEW YORK Despite widespread concerns about a soft advertising market, NBCUniversal said it closed its 2025-26 upfront negotiation cycle with a record ad sales v...

17/07/2025

Study: TV Ads Are Top Influencer of Older Adults Buying Retirement Homes

NEW YORK Television advertising remains an effective means to market and influence younger baby boomer and Generation X consumers approaching retirement age, ac...

17/07/2025

Service Electric Cable TV Deploys OpenVault PMN

ALLENTOWN, Pa. & JERSEY CITY, N.J. Service Electric Cable TV and OpenVault have announced that the operator is deploying the OpenVault Proactive Network Manage...

17/07/2025

FCC Chair Outlines Busy Summer Agenda That Includes Major EAS Vote

WASHINGTON Following up on his first major policy speech just two ago, Federal Communications Commission Chair Brendan Carr is promising to buck the usual summ...

17/07/2025

SES Receives All Required Regulatory Approvals to Complete Intelsat Acquisition

Luxembourg, 14 July 2025 - SES received the final regulatory approvals for the SES-Intelsat transaction, including the US Federal Communications Commission. O...

17/07/2025

Berklee Alumni Nominated for 2025 Emmy Awards

Berklee Alumni Nominated for 2025 Emmy Awards Twenty-seven Berklee alumni received nominations across categories in sound mixing, sound editing, and compositi...

17/07/2025

What We Watched the First Half of 2025

Back to All News What We Watched the First Half of 2025 Entertainment 17 July 2025 Global Link copied to clipboard Today, we're sharing our latest Eng...

17/07/2025

Vote for Ivory 3 American Concert D in the MIDI Innovation Awards!

Cast your vote in 2 categories for Ivory 3 American Concert DIvory 3 American Concert D is in the 2025 MIDI Innovation Awards and we are honored to be nominated...

17/07/2025

SVG Sit-Down: OpenDrives' Sean Lee, Michael Wilsker, and Jason Matousek on Evolving Data Management

SVG Sit-Down: OpenDrives' Sean Lee, Michael Wilsker, and Jason Matousek on E...

17/07/2025

Oracle's Geoff Tognetti on Staying Ahead of the AI Curve Through Further Adoption

Oracle's Geoff Tognetti on Staying Ahead of the AI Curve Through Further Ado...

17/07/2025

NBA's Summer League Is a Hot Bed of AI, Immersive Innovation Testing

NBA's Summer League Is a Hot Bed of AI, Immersive Innovation Testing Audio mixing, intelligent camera framing are among AI-driven efforts By Ken Kerschbaum...

17/07/2025

SVG's TranSPORT Conference Returns to NYC on Oct. 21; Register Today!

SVG's TranSPORT Conference Returns to NYC on Oct. 21; Register Today! By SVG Staff Thursday, July 17, 2025 - 8:29 am Print This Story | Subscribe St...

17/07/2025

Gravity Media Chosen as Group Name for Merged OB Business

Gravity Media chosen as group name for merged OB business By George Bevir Wednesday, July 16, 2025 - 11:30 Print This Story Gravity Media executive chairm...

17/07/2025

SES Closes Deal to Acquire Intelsat, Creating New Giant in Satellite Connectivity

SES Closes Deal to Acquire Intelsat, Creating New Giant in Satellite Connectivit...

17/07/2025

How MLB Pulled Off That Unforgettable Hank Aaron Tribute at the All-Star Game

How MLB Pulled Off That Unforgettable Hank Aaron Tribute at the All-Star Game Vintage content, state-of-the-art projection/processing combine in marvelous mile...

17/07/2025

Riedel Communications Powers Handa Opera on Sydney Harbour with Integrated Network and Comms Solutions

Wuppertal July 17, 2025 Riedel Communications Powers Handa Opera on Sydney Har...