
Yahsat will provide managed services for ground satellite communications services and solutions for the next 5 years
Agreement represents an important milestone that further strengthens Yahsat's contracted future revenues and reiterates its long-term strategic relationship as the preferred satellite solutions partner for the UAE Government
Abu Dhabi, United Arab Emirates, 14 February 2022: Al Yah Satellite Communications Company PJSC ( Yahsat and, together with its subsidiaries, the Group ) listed on the Abu Dhabi Securities Exchange ( ADX ) under (SYMBOL: YAHSAT) (ISIN: AEA007501017), the UAE's flagship satellite solutions provider, today announced that its dedicated government arm, Yahsat Government Solutions ( YGS ), has been awarded a AED 909.5 million (USD 247.5 million) mandate to provide enhanced managed services to the UAE Government for its satellite communications capabilities. The agreement augments the previous operations and maintenance services provided, to include technology management support, from January 2022 until the end of 2026.
This mandate strengthens Yahsat's long-standing relationship with the UAE Government, which dates back over a decade, highlighting the Group's role as the preferred partner for capacity and solutions. Yahsat has been providing operations and maintenance services since 2011 on its first two satellites, Al Yah 1 and Al Yah 2, which form part of a 15-year capacity services agreement with the UAE Government. In 2021, Yahsat was requested by the UAE Government to explore two new satellites, Al Yah 4 and Al Yah 5, to be launched by 2026.
This latest milestone builds upon Yahsat's strategy to expand its Managed Solutions capabilities across the value chain to provide more strategic services to key clients within the UAE and internationally. The mandate increases the Group's contracted future revenues at the beginning of the financial year 2022 to AED 8.4 billion (USD 2.3 billion).
Ali Al Hashemi, Group Chief Executive Officer at Yahsat added, We are delighted to receive this mandate from the UAE Government to provide extensive managed services for their satellite communications capabilities. Today's announcement validates our strategic approach to expand our offering across the value chain while enhancing our ability to provide end-to-end secure and critical satellite solutions and connectivity. This further demonstrates the strength of our relationship with the UAE Government, with whom we have had a strong partnership for over 10 years. It is a sign of confidence in our offering and lays even stronger foundations for the future growth in our relationship. The mandate boosts Yahsat's contracted future revenues to provide more visibility on the long-term financial outlook for the Group.
Middle East Stories
23/05/2023
Demonstration of low-power IoT messages' transmission over Thuraya's sat...
23/05/2023
Abu Dhabi , 23 May, 2023 :
Demonstration of low-power IoT messages' tran...
17/05/2023
New program provides further momentum to UAE space economy sector
The program a...
08/05/2023
Net income and EBITDA both grew by 35% and 4% respectively year-on-year
Abu Dhabi, United Arab Emirates, 8 May 2023: Al Yah Satellite Communications Company PJ...
25/04/2023
Abu Dhabi, 25 April, 2023 :
Over 29,000 MarineStar devices have been sold si...
25/04/2023
Abu Dhabi, 25 April, 2023 :
Over 29,000 MarineStar devices have been sold si...
18/04/2023
Yahsat has been recognized with the prestigious accolade in the highly competiti...
18/04/2023
Abu Dhabi, 18 April, 2023 :
Yahsat has been recognized with the prestigious ...
18/04/2023
Abu Dhabi, 18 April, 2023 :
Yahsat has been recognized with the prestigious ...
06/04/2023
Dubai, 06 April, 2023 :
The GoSilent Cube client is the smallest, lightest, and most cost-effective hardware encryptor for secure communications
The GoSil...
03/04/2023
Thuraya agrees heads of terms for investment in leading IoT and LEO network oper...
03/04/2023
Abu Dhabi, 03 April, 2023 :
Thuraya agrees heads of terms for investment in ...
03/04/2023
Abu Dhabi, 03 April, 2023 :
Thuraya agrees heads of terms for investment in ...
16/03/2023
Abu Dhabi, 16 March, 2023 : Abu Dhabi, UAE March 16, 2023 Al Yah Satellite ...
16/03/2023
Abu Dhabi, 16 March, 2023 : Abu Dhabi, UAE March 16, 2023 Al Yah Satellite ...
16/03/2023
Abu Dhabi, UAE March 16, 2023 Al Yah Satellite Communications Company PJSC (...
15/03/2023
Abu Dhabi, 15 March, 2023 : Advanced new tactical radio solution addresses exis...
15/03/2023
Abu Dhabi, 15 March, 2023 : Advanced new tactical radio solution addresses exis...
01/03/2023
MoU signed between national leaders at IDEX 2023 to build on Yahsat's system...
28/02/2023
Key financial guidance targets met or exceeded
Contracted future revenues of AED 7.3 billion [USD 2.0 billion]
Equivalent to 4.6 times annual revenue
Robust...
23/02/2023
The strategic partnership is aimed at building and operatingstrategic earth obse...
22/02/2023
Collaboration between two national industry leaders to expand services for UAE and MENA region airborne market creating a one-stop-shop for relevant platform ...
17/02/2023
The successful completion of the Critical Design Review is a key milestone in th...
17/02/2023
Abu Dhabi, 17 February, 2023 : Abu Dhabi, United Arab Emirates, 17 February 202...
17/02/2023
Abu Dhabi, 17 February, 2023 : Abu Dhabi, United Arab Emirates, 17 February 202...
15/02/2023
Toronto-based real estate company branches out from traditional asset classes with multiple innovative developments
Roman Brailovski, Vice President, Strategic...
15/02/2023
Partnership demonstrates collaboration between two leading national champions that will support the national space sector for both government and commercial cus...
11/01/2023
The game-changing solution, Thuraya MarineStar, from Yahsat's mobility arm T...
11/01/2023
Abu Dhabi, 11 January, 2023 : The game-changing solution, Thuraya MarineStar,...
11/01/2023
Abu Dhabi, 11 January, 2023 : The game-changing solution, Thuraya MarineStar,...
23/12/2022
Yahsat's mobility solution Thuraya XT-LITE was utilized to save the lives of seven fishermen who were stranded in waters between the Philippines and Ind...
23/12/2022
Manila, 23 December, 2022 :
Yahsat's mobility solution Thuraya XT-LITE was utilized to save the lives of seven fishermen who were stranded in waters...
08/11/2022
Exceptional third quarter performance
Abu Dhabi, United Arab Emirates, 8 Novem...
07/11/2022
Partnership to support Abu Dhabi based startups with commercial opportunities to...
11/10/2022
Thuraya, Yahsat's mobility business, signs complementary commercial agreement to develop a Next Generation IoT Platform with eSAT Global
Investment in eSAT...
11/10/2022
Abu Dhabi, 11 October, 2022 : Thuraya, Yahsat's mobility business, signs complementary commercial agreement to develop a Next Generation IoT Platform with ...
21/09/2022
Yahsat is on track to deliver an increased total dividend of at least AED 393.3 ...
01/09/2022
Pledge seeks to increase engagement from the private sector and companies in the pivot towards decarbonization
21 leading companies across the UAE joined the P...
09/08/2022
Abu Dhabi, United Arab Emirates, 9 August 2022: Al Yah Satellite Communications ...
04/08/2022
We are proud to announce that Toronto City Council has approved First Gulfs new King East Centre development. Located along Front Street East and Princess Stree...
20/07/2022
We are proud to announce that Toronto City Council has approved First Gulf's new King East Centre development. Located along Front Street East and Princess ...
01/07/2022
In his new capacity, Sulaiman Al Ali will lead both YahClick, Yahsat's data ...
01/07/2022
Abu Dhabi , 01 July, 2022 :
In his new capacity, Sulaiman Al Ali will lead b...
01/07/2022
Abu Dhabi , 01 July, 2022 :
In his new capacity, Sulaiman Al Ali will lead b...
01/06/2022
Abu Dhabi , 01 June, 2022 : New office opened in Singapore as part of the festivities
Thuraya, the mobility solutions subsidiary of the UAE's flagship sat...
01/06/2022
Mississauga, ON (June 1, 2022) First Gulf Corporation ( First Gulf ) has par...
11/05/2022
1Q22 revenue of AED 362.5 million [USD 98.7 million], up 9.4% year-on-year
1Q22 Adjusted EBITDA of AED 213.4 million [USD 58.1 million], up 6.8% year-on-year ...
05/05/2022
The partnership acquired the 13.4 acre site to develop small-bay industrial cond...
29/04/2022
Yahsat has been appointed to enable UAE Government platforms with a satellite co...
12/04/2022
All resolutions approved at AGM including amendment to dividend policy allowing ...