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
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
01/06/2026
In its sixth year, the broadcaster's coverage has become a global brand and ...
01/06/2026
Designed to solve a common problem in broadcasting, the automated workflow detects, identifies, removes, and documents copyrighted music
AudioShake has introdu...
01/06/2026
The sports-analytics company combines its data with proprietary AI to help leagu...
01/06/2026
Category line-up & sponsors announced
Photo: Paul Clarke
The Production Music Awards (PMA) have announced that submissions are now officially open ahead of...
01/06/2026
New hybrid sample/synthesis instrument revealed
Excite Audio have just released the latest instalment in their Evolve series, which has been developed in co...
01/06/2026
Latest TONEX expansion captures three rare vintage amps
The newest addition to IK Multimedia's ever-growing TONEX line-up introduces a set of three incr...
01/06/2026
Musically intelligent soft synth gets upgraded
Scaler Music will be probably be best known to many for their music theory tools, but their product range al...
01/06/2026
SBS confirms its broadcast sponsors for FIFA World Cup 2026
1 June, 2026
Media releases
SBS has secured Hyundai, Hisense, Macca's, Rexona, bet365, Com...
01/06/2026
Rohde & Schwarz Satellite Industry Days 2026 guided by the motto From Earth to ...
01/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/06/2026
Marshall Electronics is showcasing a comprehensive lineup of next-generation POV cameras, purpose-built to power today's connected AV environments, at InfoC...
01/06/2026
Adobe Announces Concept to Vector
Deepa Subramaniam June 1, 2026
0 Comments
One of the biggest frustrations we hear from designers is how difficult it...
01/06/2026
Vampire Feature Night Patrol Graded with DaVinci Resolve Studio
Brie Clayton June 1, 2026
0 Comments
Colorist shapes dark, gritty tone for horror thri...
01/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/06/2026
Mardi 2 juin 14h00
FilmLight (ARRI), 10 rue Ren Boulanger, 75010 Paris
Rejoignez-nous pour d couvrir comment FLAPI (l'API FilmLight) peut transformer e...
01/06/2026
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...
31/05/2026
Olivia P rez-Collellmir to Premiere Original Work at Gaud Centennial in Barcelona The Berklee graduate and faculty member will debut her choral symphony with...
31/05/2026
Back to All News
Netflix Wins 15 Awards at the Canadian Screen Awards - See Pho...
31/05/2026
Taiwan is home to more than 500 NVIDIA ecosystem partners. More than 1 million N...
31/05/2026
As factories move from isolated automation to plant-wide intelligence, manufacturers need AI systems that can connect live machine signals, quality systems, wor...
31/05/2026
The NVIDIA AI Cloud ecosystem is accelerating the global buildout of AI factory infrastructure. Partners are expanding capacity to meet growing demand from ente...
30/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/05/2026
Zero in on one that says yes (and no)
Andy Marken May 29, 2026
0 Comments
Hero image courtesy of Deposit Photos
For content creators the most difficu...
29/05/2026
With InfoComm 2026 just weeks away, NDI is giving attendees plenty of reasons to...
29/05/2026
Reaffirming a partnership that has defined Canadian sports broadcasting since 19...
29/05/2026
Mobile/tablet is No. 2 device for watching TV, suggesting that the sports-production industry needs to take another look at the format
Ring Digital's Sprin...
29/05/2026
Berliner Ensemble, one of Berlin's five major theater companies, has expande...
29/05/2026
Solid State Logic will showcase its new compact, fly-away TCA Tour audio product...
29/05/2026
Gerald (Jerry) Pierce, a pioneering technologist who helped shape the digital transformation of the motion picture industry, passed away last month on April 12 ...
29/05/2026
Paramount+ will be the English-language U.S. home for Barclays Women's Super...
29/05/2026
Further strengthening its virtualisation strategy to fully support broadcasters ...
29/05/2026
Swiss broadcaster Canal Alpha has deployed Harmonic's award-winning, software-based XOS Advanced Media Processor to modernize playout operations across cant...
29/05/2026
PTZOptics will showcase a new generation of intelligent video workflows at InfoComm 2026, June 17-19, Las Vegas. Visitors to booth N8227 will see how PTZOptics ...
29/05/2026
Arizona's Family has launched the Arizona's Family Sports (AZFS) streaming app, a new direct-to-consumer destination for live, local sports. The app is ...
29/05/2026
Starting in 2027, DAZN will be the exclusive home of The Canadian Football Leagu...
29/05/2026
Comcast Business has detailed the advanced network infrastructure it has deploye...
29/05/2026
In two-day event, leaders from academia and industry explored solutions to chall...
29/05/2026
The Basketball Tournament (TBT), now entering their 13th year of competition, ha...
29/05/2026
Roku has launched FOX One as a Premium Subscription on The Roku Channel in the U.S. Roku customers can now subscribe to FOX One using their Roku account for liv...
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 ).
