
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 ...
07/10/2026
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
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
07/08/2026
DoubleVerify Shareholders to Receive $13.60 Per Share in Cash, Representing a 30...
07/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/08/2026
The Award Recognizes ACT's Outstanding Sales Performance, Marketing Collaboration and Long-standing Commitment to the NEUTRIK Brand
ACT Entertainment, one ...
07/08/2026
Beamr Imaging Ltd. (Nasdaq: BMR), a leader in video optimization technology and solutions, today announced it is bringing AI upscaling to live sports, broadcast...
07/08/2026
Berklee City Music Presents Nine Scholarships and Awards at Annual Concert Student recipients from seven states and Canada received scholarships, housing awar...
07/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/08/2026
Riedel Communications at IBC2026: Live Production Experience Showcasing Integrated IP Production Workflows
At IBC2026, Riedel Communications will bring modern ...
07/08/2026
Shotoku Showcases Expanding Aura PTZ Ecosystem and Award-Winning Swoop Robotic Crane at IBC2026
Shotoku Broadcast Systems will officially introduce its Aura fa...
07/08/2026
Highlights will include new Dante fiber connectivity, expanded IPMX capabilities and award-winning signal processing solutions
Cobalt Digital, the leading des...
07/08/2026
Bob Moses Concert at Red Rocks Captured with URSA Cine 12K LF
Brie Clayton August 6, 2026
0 Comments
PYXIS 12K and URSA Cine 12K LF enable cinematic c...
07/08/2026
Use It or Else Is Not an AI Implementation Strategy
Andy Marken August 6, 2026
0 Comments
Source - Hitchhikers Guide to the Universe, Touchstone Pi...
07/08/2026
Migration of more than 1,000 radio services delivers improved resilience, efficiency and sustainability
07 August 2026, Winchester, UK Arqiva, the UK's l...
07/08/2026
On 6 August, the European Commission and the SpaceRISE consortium concluded nego...
07/08/2026
The Traitors Ireland Uncloaked is also back with all the behind the scenes drama...
06/08/2026
The broadcaster's 14-race schedule begins in Iowa and ends in November with ...
06/08/2026
In-venue and creative video staffers at the professional and collegiate level ha...
06/08/2026
As media organizations consolidate teams, technology platforms, and content libr...
06/08/2026
Firmware updates introduce Dolby's next-generation picture engine, content-aware optimization, and new motion and ambient-light tools...
06/08/2026
TNT Sports will have wall-to-wall coverage of the upcoming FIBA Women's Bask...
06/08/2026
swXtch.io (Stand 5.MR13) has unveiled groundSwXtch for Audio over IP (AoIP), a software application that lets broadcasters and media organizations move audio in...
06/08/2026
At IBC2026, Riedel Communications (Stands: 10.A24, 10.A31, 10.A38) will bring modern media production to life with the Live Production Experience - a connected ...
06/08/2026
The first live-sports director to receive the prestigious honor, eight-time Emmy...
06/08/2026
NBC Sports will continue to present the Preakness Stakes on NBC and Peacock thro...
06/08/2026
Cobalt Digital (Stand 8.F90) continues to reinforce its commitment to delivering...
06/08/2026
Wave Central has promoted promotion Jeff Daubert to Director of Sales, Americas.
In his expanded role, Daubert will lead Wave Central's sales strategy and ...
06/08/2026
KMH Integration is expanding its ability to serve media, broadcast, and IT organizations by adding Keith Hanadel, an accomplished architect with decades of indu...
06/08/2026
Advanced Systems Group (ASG) has promoted Michele Ferreira from Vice President of its Systems Integration team to the newly created position of Chief Business O...
06/08/2026
Demonstrations will include new JPEG XS, Dolby audio, cloud-gateway, stream-processing, and distribution capabilities...
06/08/2026
The deal includes three premium mobile units, engineering personnel, existing br...
06/08/2026
Broadcast Management Group produced Amazon Prime's inaugural Obsessed Fest a...
06/08/2026
Exhibit will feature new variable-ND functionality, OLED viewfinders, remote-camera tools, and UHD production monitors...
06/08/2026
Compact full-frame E-mount lens targets sports, wildlife, and other long-range shooting applications...
06/08/2026
Live broadcast will honor Roger Federer and Mary Carillo on Aug. 29, with onsite...
06/08/2026
End-zone board receives higher-resolution LED technology and an updated Show Control system ahead of the 2026 football season...
06/08/2026
New 16- and 32-pad MIDI controllers now available
Fender have just announced that the two new performance-focused controllers that were unveiled at NAMM 202...
06/08/2026
Standalone version, performance improvements & more
Lewitt have just released a significant update for their speaker and room virtualisation software, intro...
06/08/2026
Combines celeste samples with synth engine
After launching earlier in 2026 with deFORM, ebbandflow have returned with their first sampled acoustic instrumen...
06/08/2026
SGL Carbon's consolidated sales in the first half of 2026 totaled 394.2 million, down 13.0% from the prior year (H1 2025: 453.2 million). On the one hand,...
06/08/2026
The BBC has announced casting for the forthcoming six-part series Hercule from Mammoth Screen and Agatha Christie Limited.
Joining Bluemel are Henry Ashton (A ...
06/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/08/2026
Proven offering builds on more than 20,000 live sporting events with greater automation, flexibility, and operational control
LTN , the industry leader in tran...