Robust financial performance, with AED 698 million [USD 190 million] in revenues in H1 2021 reflecting 10.9% quarterly growth
28% year-on-year increase in Normalised Net Income, from AED 106.6 million [USD 29 million] in H1 2020 to AED 136.3 million [USD 37.1 million] in H1 2021
Margin up from 60.4% in H1 2020 to 60.9% in H1 2021
Signing of a AED 2.5 billion [USD 700 million] 15-year T4-Next Generation Satellite Capacity Services Agreement, increasing the secured contract backlog to over AED 7.7 billion [USD 2.1 billion] at 30 June 2021, approximately 5x FY 2020 revenues
AED 2.5 billion [USD 700.5 million] financing raised at highly competitive rates to optimize the Group's capital structure, resulting in a healthy leverage ratio of 0.4x Net debt to Adjusted EBITDA at 30 June 2021
Abu Dhabi, United Arab Emirates, 11 August 2021: Al Yah Satellite Communications Company PJSC ( Yahsat or the Group ) listed on the Abu Dhabi Securities Exchange ( ADX ) under (SYMBOL: YAHSAT) (ISIN: AEA007501017), one of the world's largest providers of multi-mission satellite communications solutions, today announced its financial results for the period ended 30 June 2021 ( H1 2021 or First Half of 2021 ).
In its first announcement after the successful completion of its initial public offering (the IPO) on 14 July 2021, Yahsat reported robust financial performance for the first half of 2021, showing strong results across all operating segments.
In June 2021, Yahsat entered into a 15-year T4-Next Generation Satellite Capacity Services Agreement with a government customer in the UAE, adding more than AED 2.5 billion [USD 700 million] to its committed contract backlog increasing it to over AED 7.7 billion [USD 2.1 billion]. The agreement strengthens Yahsat's highly attractive financial profile, securing future cash flows and underpinning the Group's stated progressive dividend policy. Moreover, Yahsat maintained a high cash conversion ratio at over 95% for the period ended 30 June 2021, driven by CAPEX efficiency and a well-capitalised balance sheet.
The Group recorded improvements across its business lines, in the UAE and internationally, resulting in a quarter-on-quarter revenue growth of 10.9% to AED 367.1 million [USD 100 million] in Q2 2021. This contributed to H1 2021 revenues of AED 698.4 [USD 190.2 million], which were down slightly by 3.9% compared to H1 2020 due to heightened COVID-19 challenges in global markets during the first quarter of 2021.
Net income (profit attributable to the shareholders) for the first half of 2021 was in line with prior year . On a normalised basis, after adjusting for one-off non-recurring items, the Group recorded Normalised Net Income of AED 136.3 million [USD 37.1 million] compared to AED 106.6 million [USD 29 million] for the same period last year, representing an increase of AED 29.7 million [USD 8.1 million] or 28%. Moreover, and in comparison to the previous quarter of this year, the Q2 2021 Normalised Net Income increased by AED 19.5 million [USD 5.3 million] or 33%.
Although Adjusted EBITDA for the first half of 2021 of AED 425.6 million [USD 115.9 million] was AED 18.9 million [USD 5.1 million] or 4.2% lower than the prior year, the Normalised Adjusted EBITDA Margin improved from 60.4% in H1 2020 to 60.9% in H1 2021. Operating Free Cash Flow for the first half of the year was AED 408 million [USD 111 million].
Ali Al Hashemi, Yahsat Chief Executive Officer said: The solid start we had at the beginning of 2021 has gained further momentum, as demonstrated by our second quarter results. Our strong performance is a resounding testament to the resilience of our businesses, reaching 80% of the global population across five continents with critical connectivity solutions. In parallel, we have balanced service quality and effectiveness with operational excellence and stringent financial management.
As a leading Abu Dhabi based satellite-communication pioneer, we continue to leverage our competitive fixed and mobile satellite connectivity solutions to accelerate our growth plans globally, expanding our national and international operations and partnerships to reach all corners of the world. Moreover, we are reinforcing these plans by pursuing multiple significant opportunities to create further value for our shareholders. Al Hashemi added.
Revenue
Revenue for H1 2021 at AED 698.4 million [USD 190.2 million] is marginally lower (3.9%) compared to the prior year, but on a quarterly basis, revenues grew strongly in Q2 2021 across the business, illustrating the Group's resilience and growth potential despite challenging COVID-19 business conditions. Q2 2021 revenues increased by AED 35.8 million [USD 9.8 million] compared to Q1 2021, with the majority of the year-on-year revenue variance relating to Q1 2021 performance.
Revenues from the largest segment, Infrastructure, remained solid on a quarterly basis, with an increase of AED 4.8 million [USD 1.3 million] year-on-year to AED 440.3 million [USD 119.9 million].
Managed Solutions has started to recover in Q2 2021, recording a AED 18.0 million [USD 4.9 million] revenue increase compared to Q1 2021. H1 2021 revenues of AED 106.9 million [USD 29.1 million] were AED 12.5 million [USD 3.4 million] below H1 2020 largely reflecting temporary COVID-19 related delays to certain projects.
Despite the challenging trading conditions in its primary markets, the Data Solutions business remains underpinned by strong fundamentals. During H1 2021, YahClick grew its subscriber base by 8%, with further subscriber and business growth expected in the near term after securing three significant new enterprise and telecom customers in Africa during the first half of the year, and continuing with strong momentum as further expansion in Africa is planned for in H2 of this year.
Mobility Solutions has al
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...
04/06/2026
Sony Electronics is introducing the SRG-AS10, a 4K 60p-compatible PTZ auto-frami...
04/06/2026
This recent grad from Spring, TX, led creative-video output for the Aggies' men's basketball team last season and has been producing video and creating ...
04/06/2026
For the first time at a women's golf major, every player in the field will r...
04/06/2026
Three Panasonic PT-RQ45 40,000-lumen 3-Chip DLP projectors made their first live...
04/06/2026
Bitmovin and Akamai have announced a collaboration with NRJ Group, a French mult...
04/06/2026
Telestream will exhibit at InfoComm 2026 (Booth N7952), demonstrating media work...
04/06/2026
Sony has announced the development of RIALTO 65, a 65mm format image sensor block for the VENICE 2 digital cinema camera, targeting release in the first half of...
04/06/2026
KOKUSAI DENKI Electric America will exhibit at InfoComm 2026 (Booth N8025, June ...
04/06/2026
Bell Media's TSN and RDS are the exclusive Canadian broadcasters of FIFA Wor...
04/06/2026
The Challenge: Receiving Heavy Media Files From Road Games Quickly and ReliablyT...
04/06/2026
MASV, a managed file transfer platform used in broadcast and live sports product...
04/06/2026
NESN has announced the appointment of Fahad Haider as Vice President of Operations and Engineering. Haider returns to NESN, where he previously served as Vice P...
04/06/2026
David J. Halberstam, who spent almost 50 years in sports as a broadcaster and an executive, died June 2 after a years-long battle with brain cancer.
Over his l...
04/06/2026
Although collegiate production programs are tasked with delivering high-quality ...
04/06/2026
California studio, two production trucks, global distribution system are combine...
04/06/2026
New global program empowers and supports storytellers through scriptwriting course and access to industry experts
TikTok and Sundance Institute today announce...
04/06/2026
Steinberg DAWs now boast in-depth Tonalic integration
Celemony's innovative virtual session musician plug-in has just received an update that brings ARA...
04/06/2026
Get Hands-On With Over 20 Mic Brands
GearExpo UK is fast approaching, and if you've been looking for a chance to check out some new mics, then you'r...
04/06/2026
Combos feature new Amplifier Intelligence engine
Positive Grid's latest release sees the company introduce two new combo amplifiers that promise to offe...
04/06/2026
Is Your Job Making You Work this June?
4 June, 2026
Media releases
SBS Launches the World Cup Watchers' Rights Association to Stand Up For Australians&...
04/06/2026
Statement regarding unauthorised use of SBS logos on third party social content
4 June, 2026
Media releases
SBS has become aware of social media posts in c...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Bitmovin, a leading provider of video streaming infrastructure, and Akamai, the cybersecurity and cloud computing company that powers and protects business onli...
04/06/2026
American Underground (AU), the Startup Hub of the South and a community of mor...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
NVIDIA and Microsoft Reinvent Windows PCs for the Age of Personal AI
Brie Clayton June 3, 2026
0 Comments
RTX Spark - a 1-Petaflop Superchip, the Full...
04/06/2026
Inside the Peaky Blinders: The Immortal Man Grade
Brie Clayton June 3, 2026
0 Comments
Simone Grattarola discusses shaping the look in DaVinci Resolve...
04/06/2026
Cine Gear Expo Announces 2026 Awards of Excellence Recipients
Brie Clayton June 3, 2026
0 Comments
Ed Lachman ASC, Caleb Deschanel ASC, and M. David M...
04/06/2026
St. Vincents Live with Orchestra Tour to Feature Berklee Alum Ruby Plume Berklee alumni St. Vincent and Ruby Plume will appear on the same bill across seven d...
04/06/2026
Back to All News
All the Truth in My Lies Coming to Netflix on August 28
Entertainment
04 June 2026
GlobalSpain
Link copied to clipboard
Download the imag...
04/06/2026
Back to All News
Larry Tanz, VP of Content, EMEA, Delivers a Keynote Speech at ...
04/06/2026
Back to All News
Turn Your Living Room into a Stadium With the New FIFA World ...
04/06/2026
Keeping conversations real on LinkedIn Published on Jun 4, 2026 Categories: Product News
LinkedIn Corporate Communications
Share
LinkedIn
Facebook ...
04/06/2026
BackStory follows four Irish young people as they travel back to their parents' homelands
Modern Irish identity is enriched by cultures and influences from...
04/06/2026
June's forecast with GeForce NOW: 100% chance of gaming.
GeForce NOW is lining up new adventures for the month, from big-name blockbusters to quirky indies...
03/06/2026
SES and Viva, Mexico's ultra low-cost airline, have launched multi-orbit satellite inflight connectivity on Viva's Airbus aircraft. A total of 60 A320s ...
03/06/2026
The College Football Playoff, ESPN, and TNT Sports have announced kick times and...
03/06/2026
RED Digital Cinema will exhibit at Cine Gear Expo 2026 (Booth 33, June 5-6, Universal Studios Lot), hosting three panels and hands-on product demonstrations.
P...
03/06/2026
Roku has announced the Soccer Zone, a dedicated hub for FIFA World Cup 2026 content available across the United States, Canada, Mexico, Brazil, Colombia, Argent...
Robust financial performance, with AED 698 million [USD 190 million] in revenues in H1 2021 reflecting 10.9% quarterly growth
