
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
09/11/2025
Dalet today announced a transformative leap forward for media operations: Agentic Artificial Intelligence (AI) that unifies the Dalet ecosystem under one natura...
06/10/2025
France T l visions, France's leading broadcaster, has received the 2025 EBU ...
18/09/2025
WASHINGTON The controversy over ABC's decision to suspend Jimmy Kimmel, continues to heat up, with FCC Commissioner Anna M. Gomez blasting ABCs decision to ...
18/09/2025
FOR-A America named Jo Aun as Senior Manager of Product Management and Engineering, reporting directly to Satoshi Kanemura, President and COO. In this new posit...
18/09/2025
MASV (massive.io), the fastest and most reliable large file transfer platform for media professionals and an IDC Innovator 2025 for Media & Entertainment*, toda...
18/09/2025
ThinkAnalytics, the global leader in video content discovery and persaonalization, today announced that Dish TV India, the leading content distribution company,...
18/09/2025
DirecTV continues to expand its women's sports offerings by adding Sports Fanatics' and Whoopi Goldberg's Free Ad-Supported Television (FAST) All Wo...
18/09/2025
WASHINGTON NextGen TV viewers are beginning to see what high dynamic range (HDR) brings to their football enjoyment with the launch of the sport's fall seas...
18/09/2025
WASHINGTON After issuing audit letters seeking Equal Employment Opportunity data from a randomly selected group of TV and radio stations in August, the Federal ...
18/09/2025
NEW YORK Warner Bros. Discovery and Nielsen have signed a new, long-term, multi-year deal that covers measurement for all Warner Bros. Discovery platforms acros...
18/09/2025
NEW YORK As part of its ongoing efforts to develop better measurement solutions, the Coalition for Innovative Media Measurement (CIMM) announced the launch of t...
18/09/2025
IRVING, Texas Following threats from the Federal Communications Commission and the announcement that the nations largest station group, Nexstar Media Group, wou...
18/09/2025
Individual phones could be tracked back to specific residential addresses
Sm...
18/09/2025
GeForce NOW is packing a monstrous punch this week. Dying Light: The Beast, the latest adrenaline fueled chapter in Techland's parkour meets survival horror...
18/09/2025
September 18 2025, 04:20 (PDT) Dolby Atmos arrives in Maruti Suzuki Victoris, e...
17/09/2025
Tech Focus: Audio Training, Part 2 - Manufacturers Offer Extensive Online Learni...
17/09/2025
Tech Focus: Audio Training, Part 1 - A1 Shortage Remains a Major-League Challeng...
17/09/2025
It was the ultimate convergence of pop culture and literary prestige: Last night, Dua Lipa brought her Service95 Book Club podcast to the stage for a special li...
17/09/2025
During August, streaming's share of TV viewing in Mexico showed an increase of 0.4% compared to the previous month, accounting for 25% of TV viewing.
Discl...
17/09/2025
CYPRESS, Calif. FOR-A America has named Jo Aun as senior manager of product engineering, a new role responsible for guiding the planning, development and rollou...
17/09/2025
PlayBox Neo, in partnership with CIS Group, a leading provider of media and broadcast technology solutions, has successfully deployed PlayBox Neo's Dual Cha...
17/09/2025
In a relationship that mirrors societal advances in sustainability, Brightline Lighting and the Federal Energy Regulatory Commission (FERC) Headquarters have en...
17/09/2025
Clear-Com is proud to support the world-class productions of Alley Theatre, one of the oldest and largest nonprofit resident theatres in the United States. With...
17/09/2025
Arch Platform Technologies (www.archpt.io), a pioneer in automated, scalable cloud infrastructure for high-performance workflows, today announced a Strategic Co...
17/09/2025
Over 300 selected decision-makers from start-ups, corporates, and VC funds worldwide will gather for the third edition of the event, united by a single goal: to...
17/09/2025
Telestream, a global leader in media workflow technologies, is excited to announce that its flagship Vantage platform and its next-generation AI capabilities re...
17/09/2025
Mediagenix, a global leader in smart content solutions that profitably connect the right content to the right audience, proudly announces its three Best of Show...
17/09/2025
In a move to further establish a firm foothold across South East Asia, PlayBox Neo, the well-respected name in broadcast playout and channel branding, has appoi...
17/09/2025
Wisycom, a global leader in advanced wireless audio solutions, announced two major wireless solutions at IBC 2025 (Stand 8.D30). This includes the Portable RF-o...
17/09/2025
Six Berklee Alumni Win Emmy Awards The recipients were recognized for their contributions to acclaimed programs Severance, The Studio, The Penguin, SNL50: The...
17/09/2025
Applications Open for Berklee in Santo Domingo The weeklong contemporary music program will run January 5-10, 2026.
By
Colette Greenstein
September 17, 2025
...
17/09/2025
Ukrainian Students Find Creative Consonance' at Berklee Valencia Through ELIA's UAx Platform, six students from Kyiv joined Berklee Valencia for a week...
17/09/2025
Earlier this year Avid announced Kenna Hilburn as its new senior vice president of product. Recently Hilburn was promoted to Avids new Chief Product Officer, su...
17/09/2025
Transatlantic collaboration combines experience and agility to drive innovation in network design and delivery
Luxembourg, September 16, 2025 - SES, a leading ...
17/09/2025
NEW YORK Madhive has announced that the Fox Television Stations have joined its Live Sports Marketplace....
17/09/2025
SYRACUSE, N.Y. Sony Electronics has announced that it is partnering with the Newhouse School at Syracuse University to provide state-of-the-art equipment, hands...
17/09/2025
SAN JOSE, Calif. Roku has announced that the first smart projector using its Roku TV operating system, the Aurzen Roku TV Smart Projector D1R Cube, is now avail...
17/09/2025
Today's creators are equal parts entertainer, producer and gamer, juggling game commentary, scene changes, replay clips, chat moderation and technical troub...
17/09/2025
Wednesday 17 September 2025
UK artists capture icons of stage and screen, inclu...
17/09/2025
Jo Returns to FOR-A as Senior Manager of Product Management and Engineering...
17/09/2025
For the Moon Safari anniversary tour, AIR opened the doors to their backstage. Just a few hours before the Paris concert, DPA met with two key figures of the te...
17/09/2025
Auditions will be held in Dublin, Cork and Galway
The County Parade returns f...
16/09/2025
SVG All-Stars: Leigh Michaud, Manager, Remote Operations, ESPNThe UConn grad rose from ESPN's mailroom to become one of its most valuable ops leadersBy Bran...
16/09/2025
Live From IBC 2025: Friday's Latest From Halls 1-4, Outdoor Exhibits in Amst...
16/09/2025
Live From IBC 2025: Saturday's Latest From Halls 5-7 in Amsterdam By SVG Staff
Friday, September 12, 2025 - 17:00
Print This Story
The SVG Europe and ...
16/09/2025
Live From IBC 2025: Sunday's Latest From Halls 8-10 in Amsterdam By SVG Staff
Saturday, September 13, 2025 - 17:00
Print This Story
The SVG Europe and...
16/09/2025
Live From IBC 2025: Monday's Latest From Halls 11-14 in Amsterdam By SVG Staff
Sunday, September 14, 2025 - 17:00
Print This Story
The SVG Europe and ...
16/09/2025
Amazon Prime Video Picks Up Four Hours of Early-Round Masters Coverage in 2026 By Jason Dachman, Editorial Director, U.S.
Tuesday, September 16, 2025 - 10:15...
16/09/2025
VERSANT Inks Deal for League One Volleyball as Women's Sports Rights Slate G...
16/09/2025
ESPN VP, Corporate Communications, Katina Arnold Named SVP, Disney Advertising C...