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 ...

07/10/2026

Dalet Flex LTS Delivers Smarter Media Operations from Ingest to Distribution

Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...

06/09/2026

Dolby and MagentaTV Bring Fans Closer to the FIFA World Cup 2026 in Germany with Dolby Vision and Dolby Atmos

June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...

26/08/2026

DAZN Accelerates U.S. Expansion with Acquisition of EverPass Media

Share Copy link Facebook X Linkedin Bluesky Email...

26/08/2026

Truthset Brings Data Rated Audiences to FreeWheel

Share Copy link Facebook X Linkedin Bluesky Email...

26/08/2026

Broadpeak Targets CTV Shopping with Click2Cart Launch

Share Copy link Facebook X Linkedin Bluesky Email...

26/08/2026

SMPTE Announces 2026 Honorees

Share Copy link Facebook X Linkedin Bluesky Email...

26/08/2026

MediaKind Beam selected by CNBC UK for cloud-connected li...

MediaKind today announced that CNBC UK has selected Beam to modernize its contribution and distribution infrastructure, bringing greater flexibility, resilience...

26/08/2026

Telestream Unveils the Next Phase of UP at IBC2026

Telestream, a global leader in media workflow technologies, today announced the next evolution of Telestream UP, expanding the cloud-native platform introduced ...

26/08/2026

SMPTE Announces 2026 Honorees

SMPTE, the home for media professionals, technologists and engineers, today announced its 2026 Honorees, recognizing individuals and organizations whose contrib...

26/08/2026

Broadpeak launches Click2Cart to mark new era in shoppabl...

New solution bridges connected TV (CTV) and ecommerce to make shoppable performance advertising easier to scale for streaming platforms and broadcasters Broadp...

26/08/2026

Scripps Research and collaborators awarded $19.5 million to establish an open-access autonomous chemistry laboratory

LA JOLLA, CA-Recent advances in robotics, automation and artificial intelligence...

26/08/2026

How WeFX Made From's' Monsters Feel Uncomfortably Real

How WeFX Made From's' Monsters Feel Uncomfortably Real Brie Clayton August 26, 2026 0 Comments From eight-foot dolls and feathered birds to R...

26/08/2026

Eleanor Roosevelt High School Elevates Student Rallies with Blackmagic Design

Eleanor Roosevelt High School Elevates Student Rallies with Blackmagic Design Brie Clayton August 26, 2026 0 Comments Student led production team uses...

26/08/2026

Grass Valley Advances Integrated Live Production for Unif...

K-Frame and Maverik X innovations extend familiar production control into AMPP, alongside new replay, audio, commentary and communications capabilities. At IBC...

26/08/2026

Magewell Expands Director and Pro Convert IP Lines at IBC...

New products continue to enable any signal, anywhere for creators...

26/08/2026

AFP and Dalet Bring Trusted Content into Every Newsroom

Dalet, a leading technology and service provider for media-rich organizations, today announced a new integrated newsroom experience with Agence France-Presse (A...

26/08/2026

Bolin Technology and ITDev Join AIMS

Share Copy link Facebook X Linkedin Bluesky Email...

26/08/2026

Enco to Highlight Caption, Translation Enhancements at IBC2026

Share Copy link Facebook X Linkedin Bluesky Email...

26/08/2026

ZOO Digital Chooses Interra Systems BATON for Quality Control

Share Copy link Facebook X Linkedin Bluesky Email...

26/08/2026

Gomez Criticizes FCC's Media Bureau on Political Advertising

Share Copy link Facebook X Linkedin Bluesky Email...

26/08/2026

Tedial to Demo AI-Driven Media Supply Chain Solutions at IBC 2026

Share Copy link Facebook X Linkedin Bluesky Email...

26/08/2026

AIMS Welcomes Bolin Technology and ITDev as Newest Member...

PTZ Camera Manufacturer and FPGA Design Specialist Join Alliance to Advance IPMX and Open AV-over-IP Standards The Alliance for IP Media Solutions (AIMS) today...

26/08/2026

ZOO Digital Selects Interra Systems BATON for File-Based...

BATON offers ZOO Digital advanced audio and video quality analysis, and scalable architecture Interra Systems, a leading provider of end-to-end quality assuran...

26/08/2026

Scottish Rugby Expands Managed Coach Communications Partn...

Riedel Communications today announced the continued expansion of its managed coach communications partnership with Scottish Rugby Union. Now entering its third ...

26/08/2026

Zixi Demonstrates Hybrid Workflows and Proven Live Video...

Zixi brings Broadcaster V19 and showcases interoperable platform on Stand 5.A76 Zixi, a leader in live video delivery and workflow orchestration, will be exhib...

26/08/2026

Scripps Research professor Jeffery Kelly elected to the European Academy of Engineering

LA JOLLA, CA-Jeffery Kelly, the H. Lutcher Brown Professor of Chemistry at Scrip...

26/08/2026

Indie Developer Launches Orty, aWindows App That Helps Freelance VideoEditors Find Better Clients

Indie Developer Launches Orty, aWindows App That Helps Freelance VideoEditors Fi...

26/08/2026

BTS on Sinners and Is God Is Shot with Pocket Cinema Camera 6K Pro

BTS on Sinners and Is God Is Shot with Pocket Cinema Camera 6K Pro Brie Clayton August 25, 2026 0 Comments Award winning filmmaker Travis Henry elevat...

26/08/2026

COMING SOON TO RT

As RT marks 100 years of public service broadcasting in Ireland, today we announce a season of fresh, original content, while preparing to move into a second c...

25/08/2026

Open, Sustainable, Predictable: What Utah Scientific Is Bringing to IBC 2026

Open, Sustainable, Predictable: What Utah Scientific Is Bringing to IBC 2026 As broadcast leaders prepare to gather at the RAI Amsterdam for IBC 2026, the main ...

25/08/2026

The Big Shift: Inside NC State's Phased Move From SDI to SMPTE ST 2110

NC State's Matthew Byrd breaks down how an IP-based infrastructure is delivering greater flexibility and scalability for Wolfpack productions...

25/08/2026

Monumental Sports Network Adds DAZN as Distribution Partner for Monumental+ in the DMV

Deal expands the DTC reach in-market of Capitals, Wizards, Mystics games and oth...

25/08/2026

Jacksonville Jaguars Carlos Caceres on Producing Shows at an Ever-Evolving EverBank Stadium

The two-year renovation period will create a stadium of the future for the NFL f...

25/08/2026

Behind The Mic: Genie Bouchard Joins ESPN for 2026 US Open; NBC Sports Names College Football Announce Hosts

Behind The Mic provides a roundup of recent news regarding on-air talent, includ...

25/08/2026

LD Systems Installs L-Acoustics A Series at Shell Energy Stadium in Houston

Shell Energy Stadium in Houston has installed a new L-Acoustics A Series loudspeaker system, designed and installed by LD Systems, a Clair Global brand. The 20,...

25/08/2026

FloCollege Expands Distribution and Adds Features for 2026-27 Season

FloCollege is expanding its distribution and product offerings for the 2026-27 season, covering more than 20 NCAA partner conferences across Division I, II, and...

25/08/2026

TNA Wrestling and REVOLT Announce Content Partnership

TNA Wrestling and REVOLT have announced a content partnership bringing exclusive TNA Xplosion matches and content from TNA's library to REVOLT. Our indust...

25/08/2026

Gracenote: FAST Sports Programming Growth Outpaces Channel Growth

Gracenote, Nielsen's content intelligence business, has released its Q3 2026 Data Hub analysis showing that FAST sports programming is growing at more than ...

25/08/2026

Amagi Appoints Thomas dHrouville Head of Sales for France, Benelux, and Nordics

Amagi has appointed Thomas d'H rouville as Head of Sales for France, Benelux, and Nordics. Based in Paris, he will lead Amagi's growth strategy across t...

25/08/2026

IPC Appoints CCATech as Channel Partner in Brazil

IPC has appointed CCATech as its channel partner in Brazil, expanding the company's presence in Latin America. CCATech was founded in 2023 by Carlos Abrah o...

25/08/2026

FanConnect Introduces FC4 Multi-Output Media Player

FanConnect has announced the FC4, a multi-output media player designed to drive mid-sized video walls, multi-screen concession stands, and multi-display digital...

25/08/2026

JWX Launches JWX Content Hub for Publisher Video Distribution and Monetization

JWX has launched JWX Content Hub, a platform for publisher video that combines content transformation, social distribution, audience engagement, and monetizatio...

25/08/2026

Techex Appoints Stuart Almond as Chief Revenue Officer

Techex has appointed Stuart Almond as Chief Revenue Officer. Almond brings more than 25 years of experience across technology, media, and telecommunications, ha...

25/08/2026

IBC 2026: Grass Valley to Showcase Unified SDI, IP, and Software Infrastructure

Grass Valley will demonstrate infrastructure connecting SDI, SMPTE ST 2110, MXL, and software-based processing at IBC2026 (Booth 9.A01, RAI Amsterdam, September...

25/08/2026

Taking Control: How Professional Sports Teams Are Building Their In-Market Future as the RSN Model Fractures

Franchises are taking greater ownership of production, distribution, and the fan...

25/08/2026

The PRO Tour Takes Golf Broadcasts Wireless With BMG's REMI-Driven Production Model

The first-year circuit for former professional athletes leans on LiveU, Starlink...

25/08/2026

UNIVERSAL FILM AND FOCUS FEATURES RENEW EXCLUSIVE PARTNERSHIP WITH SUNDANCE INSTITUTE TO SUPPORT RISING FILMMAKERS

Announcing the 2026 Sundance Institute Breakthrough | Focus Features Fellows L...

25/08/2026

Soundgas third John Paul Jones auction now live

Auction Part 3 running until 9 September 2026 Soundgas have announced that the latest stage of their John Paul Jones Gear Auction is now live, and that bids...

25/08/2026

MONO Music Conference programme announced

Over 60 award-winning artists, songwriters, producers, engineers The MONO Music Conference (formerly Music Expo SF), San Francisco's premier event for m...