Sony Pixel Power calrec Sony

Yahsat announces 28% increase in Normalised Net Income in H1 2021 as contract backlog so...

12/08/2021

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
LINK: https://www.yahsat.com:443/en/news-and-media/news/2021/yahsat-announce...
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 ...

04/08/2026

Dalet Announces Commercial Availability of Dalia, Bringing Media-Aware Agentic AI to Enterprise Productions

Dalet, a leading technology and service provider for media-rich organizations, t...

04/07/2026

Detective Conan: Fallen Angel of the Highway Opens in Dolby Cinemas Across Japan, Presented in Dolby Atmos and Dolby ...

April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...

01/06/2026

Dolby Sets the New Standard for Premium Entertainment at CES 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...

02/05/2026

Dalet Flex LTS Delivers Smarter Search, Faster Editing, and an AI-Ready Foundation for Modern Media

Dalet, a leading technology and service provider for media-rich organizations, t...

01/05/2026

NBCUniversal's Peacock to Be First Streamer to Integrate Dolby's Full Suite of Premium Picture and Sound Innovations

January 5 2026, 18:30 (PST) NBCUniversal's Peacock to Be First Streamer to ...

30/04/2026

PWHL Reports Record Growth in Third Regular Season as Playoffs Begin April 30

The Professional Women's Hockey League (PWHL) concluded its third regular season on Saturday, reporting growth across attendance, viewership, digital engage...

30/04/2026

NBC Sports Launches National Sunday MLB Coverage Beginning May 3

NBC Sports will air national MLB coverage on Sundays beginning May 3, with MLB Sunday Leadoff on Peacock and NBCSN at 12:30 p.m. ET, followed by the debut of th...

30/04/2026

Clear-Com Appoints Brian Grahn and Ben Turnwell to New Roles

Clear-Com has appointed Brian Grahn as Market Outreach Manager of the Americas and Ben Turnwell as Business Development Manager for EMEA live. Grahn joined Cle...

30/04/2026

ARRI Introduces cforce MAX Lens Motor for Hi-5 Lens Control System

ARRI has introduced the cforce MAX, a new lens motor for the Hi-5 lens control system. The cforce MAX is twice as fast as the cforce plus motor it replaces whil...

30/04/2026

Knuerr, Voxtronic, and IHSE to Present Integrated Control Room Solution at Airspace World

Knuerr, Voxtronic, and IHSE will jointly present an integrated control room solu...

30/04/2026

The CW Network and ESPN to Stream CW Sports Live Events on ESPN App

The CW Network and ESPN have announced an agreement to make the ESPN App the exclusive streaming home for all CW Sports live events. CW Sports will continue to ...

30/04/2026

Sennheiser Spectera Deployed on Ed Sheerans The Loop Global Stadium Tour

Ed Sheeran's The Loop' tour launched in Auckland in January 2026 before moving on to Australia, with South America and the United States to follow late...

30/04/2026

Audinate Launches Dante Preset Creator for Offline Network Configuration

Audinate has announced Dante Preset Creator, a free online tool for configuring Dante network settings before hardware is available on site. Presets created in ...

30/04/2026

Yahoo Sports Appoints Jarrod Schwarz as General Manager

Yahoo Sports has announced the appointment of Jarrod Schwarz as General Manager of Yahoo Sports. Schwarz will oversee product, design, and technology; revenue a...

30/04/2026

Nielsen: U.S. Viewers Spent 79.8 Billion Minutes Watching Soccer in 2025

Nielsen has released a new report, Get Ready with Media Intelligence: 2026 FIFA World Cup Edition, examining U.S. soccer viewership trends, fan engagement, and ...

30/04/2026

USA Lacrosse Names SportsEngine Preferred Youth Sports Management Platform Partner

USA Lacrosse and SportsEngine have announced an expanded partnership, naming Spo...

30/04/2026

Telos Alliance To Appear at MPTS 2026 Across Multiple Partner Booths

Telos Alliance will participate in the 2026 Media Production and Technology Show (MPTS), taking place May 13-14 at Olympia London. Rather than exhibiting from a...

30/04/2026

DAZN Bolsters U.S. Ambitions With ViewLift Acquisition, Targets Evolving Regional Sports Landscape

The global streamer buys the U.S. DTC platform solutions provider for a reported...

30/04/2026

Tigo Sports Upgrades Video Infrastructure with Ateme Technology

Tigo Sports, Paraguay's leading sports broadcaster, has upgraded its video infrastructure with Ateme solutions for live encoding, multiplexing, and signal c...

30/04/2026

World Rugby and IMG Announce Long-Term Media Rights Partnership

World Rugby and IMG have announced a long-term media rights partnership focused on growing rugby in the United States ahead of the Men's and Women's Rug...

30/04/2026

NWSL & Overtime Re-Up Gen-Z Focused Content Partnership

For the second year in a row, Overtime and the National Women's Soccer League (NWSL) are teaming up through a renewed content partnership to bring fans even...

30/04/2026

ESPN Executive Vice President David Roberts Set To Retire

The 22-year ESPN vet's responsibilities will reportedly be taken over by SVP Mike Foss...

30/04/2026

SVG GameDay, Ep. 13: Anaheim Ducks' Scott Fausneaucht - Skating with the Ducks of Orange County

In-venue and creative video staffers at the professional and collegiate level ha...

30/04/2026

Prime Video Announces Multiyear Agreement with Duke Mens Basketball

Amazon and Duke University have announced a multiyear agreement for Prime Video to present exclusive coverage of three Duke Blue Devils men's basketball neu...

30/04/2026

Ratings Roundup: NBA Playoffs Return to NBC Sports up 38%; UFL Viewership up Midway Through Regular Season

Ratings Roundup is a rundown of recent rating news and is derived from press rel...

30/04/2026

Introducing Verified by Spotify, a Signal of Authenticity and Trust for the Artists Behind the Music

Music is evolving, and so are the ways you discover and connect with artists. In...

30/04/2026

First-Ever Stockholm Music Week Celebrates the Industry's Present and Future

Between April 22-29, the first inaugural Stockholm Music Week brought together thought leaders and partners across industries including music, tech, government,...

30/04/2026

API launch the Vision+ console

Iconic large-format console upgraded API's iconic Vision console has just been treated to an overhaul that aims to meet the demands of today's profe...

30/04/2026

Lewitt introduce the LCT 440 Pure stereo pair

Comes complete with miking accessories The LCT 440 Pure has proven to be a popular member of Lewitt's mic line-up, offering impressive technical perform...

30/04/2026

SynthFest UK 2026 Announced

24 October 2026 at The Octagon, Sheffield Now in its eighth year, SynthFest UK is the largest event of its kind in the UK, bringing together the top keyboar...

30/04/2026

SBS & NITV LEAD NATIONAL RECONCILIATION WEEK 2026 WITH LANDMARK GULPILIL DOCUMENTARY

SBS & NITV LEAD NATIONAL RECONCILIATION WEEK 2026 WITH LANDMARK GULPILIL DOCUMEN...

30/04/2026

Rohde & Schwarz equips new Terminal 3 at Frankfurt Airport with security scanners

Rohde & Schwarz equips new Terminal 3 at Frankfurt Airport with security scanner...

30/04/2026

Jennifer Ehle and Alex Hassell join the cast of ITV's propulsive lunar thriller First Woman

Jennifer Ehle (Contagion, Zero Dark Thirty) and Alex Hassell (Rivals, Wasteman, ...

30/04/2026

L3Harris Technologies Reports Strong First Quarter 2026 Results

MELBOURNE, Fla., April 30, 2026 - L3Harris Technologies (NYSE: LHX) reports first quarter 2026 results. Highlights Orders of $7.8 billion; book-to-bill of 1....

30/04/2026

Golf Craft Interview: A1s Florian Brown and James Deason

Behind the Broadcast: The Sound of Elite Golf Golf is gaining popularity; the 2025 Ryder Cup achieved record-breaking viewing figures in the UK specifically, wi...

30/04/2026

CPI Media Leverages QuickLink StudioCall for Integrating...

STA VENERA, MALTA, APRIL 29, 2026 CPI Media, a voluntary organization within the Missionary Society of St Paul (MSSP) and a leading media house dedicated to p...

30/04/2026

Hitomi Broadcast Presents UK Debut of MatchBox Panorama a...

New software platform delivers comprehensive timing measurement across production workflows...

30/04/2026

Cutting edge British innovation leads at BroadcastAsia 20...

Once again, the UK Pavilion in Hall 5 of BroadcastAsia 2026 will feature the latest and best in technology specifically developed and tailored for modern media ...

30/04/2026

Avid powers faster workflows and next-generation immersive audio with latest Pro Tools release

Avid powers faster workflows and next-generation immersive audio with latest Pro...

30/04/2026

Ocean Blue Software Launches ATSC 3.0 Inspector for Smart TVs

Share Copy link Facebook X Linkedin Bluesky Email...

30/04/2026

Digital Azul positions Lisbon as a remote production hub...

Scalable broadcast-grade production over public internet, replacing traditional OB workflows...

30/04/2026

V Nova Brings DTV Deployment LCEVC Ecosystem Progress and...

Live demonstrations highlight LCEVC ecosystem momentum, AI-powered video pipelines, and expansion across broadcast, streaming, and social media. DTV (TV 3.0) ...

30/04/2026

Student Spotlight: Matthew Leon

Student Spotlight: Matthew Leon The dual major shares his path from community college to Berklee, and how his heritage influences his work. April 29, 2026 B...

30/04/2026

Berklee Artists to Perform at Major Global Music Festivals

Berklee Artists to Perform at Major Global Music Festivals As part of the Berklee Popular Music Institute, students will perform at Lollapalooza, Governors Ba...

30/04/2026

Study: Rokus Low-Cost, Ad-Free Howdy Streamer Hits 1 Million Subs

Share Copy link Facebook X Linkedin Bluesky Email...

30/04/2026

MLS Innovation Lab Selects AI Partners

Share Copy link Facebook X Linkedin Bluesky Email...

30/04/2026

NRB Files FCC Complaint Over Jimmy Kimmel Live!' Monologue

Share Copy link Facebook X Linkedin Bluesky Email...