Year to date revenues broadly in line vs prior year with strong momentum going into Q4
Adjusted EBITDA of AED 628.3 million [USD 171.1 million] and Normalised Adjusted EBITDA of AED 643.6 million [USD 175.3 million], up 2.5% vs. prior year, generating a superior EBITDA margin of 61.6%
Net Income (profit attributable to the shareholders) of AED 159.0 million [USD 43.3 million] and Normalised Net Income of AED 200.1 million [USD 54.5 million], up 44.3% vs. prior year, delivering a margin of 19.2% (vs. 12.9%)
Proposal to distribute semi-annual dividends endorsed by Board and subject to shareholders' approval; dividend to be paid in 2022 expected to be approximately 16 Fils (AED 0.16) per share
Yahsat positioned well for future growth with contracted future revenues of over AED 7.3 billion [over USD 2 billion], underpinned by significant new Commercial and Government deals secured in Q3 2021
Abu Dhabi, United Arab Emirates, 07 November 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 largest providers of multi-mission satellite communication solutions in the world, today announced its financial results for the nine months ended 30 September 2021 ( 9M 2021 ).
The top line continued to gain momentum with revenue for the nine months of AED 1.0 billion [USD 284.3 million], which is broadly in line with prior year, demonstrating a strong and sustained performance since Q1 2021. A strong pipeline across all business lines is set to support further revenue growth, with a number of new Commercial and Government contracts secured and further significant deals already signed as of the date of this announcement.
Yahsat maintained an Adjusted EBITDA margin above 60%, with Adjusted EBITDA for the nine months of AED 628.3 million [USD 171.1 million]. Normalised Adjusted EBITDA of AED 643.6 million [USD 175.3 million] exceeded prior year by 2.5%, generating a margin of 61.6%, higher than the prior year margin of 58.3%, reflecting continued cost and working capital efficiencies.
Net Income (profit attributable to shareholders) for the nine months was AED 159.0 million [USD 43.3 million]. After adjusting for one-off items , Normalised Net Income of AED 200.1 million [USD 54.5 million] exceeded prior year by AED 61.4 million [USD 16.7 million] (or 44.3%). Normalised Net Income margin of 19.2% for the nine months significantly exceeded the corresponding margin of 12.9% in prior year.
Underpinning the 9M 2021 results was a resilient Q3 performance, with revenues broadly stable (approximately 1% lower than Q3 2020) and a notable increase in profitability, with Normalised Adjusted EBITDA up by AED 28.9 million [USD 7.9 million] (15.3%) and Normalised Net Income up by AED 31.7 million [USD 8.6 million] (99.2%).
Yahsat maintained a high cash conversion ratio of approximately 97% for the period ended 30 September 2021, driven by low maintenance related capital expenditure.
Key Business Updates
The T4-NGS programme, which started in 2020, remains on track with several key contracts now concluded. In June 2021, Yahsat entered into a 15-year T4-NGS Capacity Services Agreement adding more than AED 2,570 million [more than USD 700 million] to contracted future revenues. In September 2021, Yahsat selected SpaceX Falcon 9 for the launch of the T4-NGS satellite in 2023 and awarded to Cobham SATCOM the contract to deliver a comprehensive mobile broadband system, including ground infrastructure.
The success of the refinancing programme of AED 2,572.6 million [USD 700.5 million], which was completed in June 2021, boosted the Group's already strong cash position, and supported a healthy Net Debt to EBITDA ratio of 0.5x as at 30 September 2021.
Attractive Dividend Policy
In October 2021, the Board of Directors of Yahsat endorsed management's recommendation to update the Group's current dividend policy, allowing it to distribute dividends on a semi-annual basis going forward. The updated policy is subject to shareholder approval at the next AGM in 2022. This reflects the Board's confidence in the financial strength of the business, a positive outlook on cash flow and Yahsat's ability to fund future investments.
A final dividend of AED 192.8 million [USD 52.5 million] for the financial year 2021 is expected to be paid to all shareholders in April 2022, bringing the total dividend for the year 2021 to AED 385.6 million [USD 105 million].
The dividend is expected to grow by at least 2% per year , with the below illustrating the expected annual dividends to be paid per share:
Total dividend to be paid in calendar year (sum of interim and final dividends) in AE Fils per share
Year of payment
15.96
2022
16.28
2023
16.61
2024
Please refer to the Legal Notice at the end of this release for a discussion regarding the factors that influence dividend payments generally.
Commenting on the results, Ali Al Hashemi, Chief Executive Officer at Yahsat said:
We continue to see a strong performance in our revenues coupled with high levels of profitability and cash flow. We are laying the foundations for future growth, by signing new deals across our Commercial and Government businesses, which add to our contracted future revenues and underpin our commitment to a progressive dividend.
Our recent appointment by the UAE Government to assess the expansion of our existing fleet with two potential new satellites presents Yahsat with significant additional growth opportunities across the business, further enhancing our longer-term outlook.
Al Hashemi added, We remain on track to achieve all our strategic objectives, financially and operationally, supported by the rapid post-pandemic recovery of our business segments globally. We will continue forging pa
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
07/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/07/2026
New appointments to Screen Australia board 7 July 2026
The Albanese Labor Government has made new appointments to the Screen Australia board.
Dr Tania Chamber...
07/07/2026
The right team. The right time.' How The Killings at Parrish Station stuck t...
07/07/2026
Berklee College of Music Alum and Faculty Perform at Boston Public Library's...
07/07/2026
Scripps Research scientists train the immune system to make antibodies against numerous HIV strains Preclinical findings mark progress toward a long-sought vacc...
06/07/2026
Long-developed relationships and informal access, three production models, and c...
06/07/2026
The deal follows Lumine's recent acquisition of Synamedia's video-networ...
06/07/2026
This former SportsCenter producer is shaping local-team studio coverage to surro...
06/07/2026
IMS Productions and FOX Sports deployed more than 100 cameras, 32 onboard feeds,...
06/07/2026
Lumine Group Inc. has announced the completion of its acquisition of the Video Network Business from Synamedia. The business will operate as a standalone compan...
06/07/2026
NASCAR has announced a content and commercial partnership with Motorsport Network, a motorsports and automotive media platform, to distribute NASCAR original co...
06/07/2026
Versant Media Group has announced a definitive agreement to acquire Full Swing, a sports technology company, from Bruin Capital and a group of minority investor...
06/07/2026
DAZN has announced global broadcast rights to 3ICE, a professional hockey format featuring three skaters and a goalkeeper per side, with no power plays or offsi...
06/07/2026
Bundle gains 100 new synths & more
Synth Anthology 5 the largest and most feature-packed edition of UVI's hardware synth emulation bundle, bringing toge...
06/07/2026
Available now via free firmware update
MOTU have just announced that three of their popular audio interfaces now boast official Milan Certification. The 16A...
06/07/2026
Rohde & Schwarz completes Hunter Preliminary Design Review for the Integrated Co...
06/07/2026
The R&S IMAGER from Rohde & Schwarz uses millimeter wave imaging to inspect the ...
06/07/2026
The National Film and Video Foundation (NFVF), an agency of the Department of Sp...
06/07/2026
Digital Domain Appoints Industry Veteran Patrick Davenport as Executive Vice Pre...
06/07/2026
Gravity Media USA appoints Brittney Boston as Head of Business Development
Brie Clayton July 6, 2026
0 Comments
The strategic new appointment supports...
06/07/2026
Remote Editing Without Cloud Storage in Resolve
Michael Cioni July 6, 2026
0 Comments
This is a step-by-step guide that demonstrates how to setup your...
06/07/2026
Automatic Caption Translation in Adobe Premiere Pro
Colin Smith July 6, 2026
0 Comments
Here I showcase the innovative automatic caption translation f...
06/07/2026
Flavor's First Ever Managing Director Neal Cohen Retires; Longstanding Execu...
06/07/2026
How Adam Rosenwach Pivoted from Music to Medtech Without Missing a Beat What do the rehearsal room and the boardroom have in common? More than you might think...
06/07/2026
Zhongyi Optics unveils the Dreamy Zone T1 FF Cine Lens Series on Indiegogo with ...
06/07/2026
Open source AI has shown how quickly developers can innovate when models, data a...
06/07/2026
Techtel debuts insyght: making ST 2110 media discovery easy
intellisphereinsyght2026
6 July Written By Suzanne Costello
Sydney, Australia - 06 July 2026 T...
06/07/2026
Monday 6 July 2026
Sky agrees to acquire ITV Media & Entertainment, creating a ...
06/07/2026
Fresh from his World Cup heroics with Cabo Verde, Roberto Pico' Lopes will join the RT panel for Argentina v Egypt tomorrow and for the England v Norway q...
06/07/2026
Nations have long invested in domestic infrastructure to advance their economies, protect and use their data, and take advantage of technology opportunities in ...
06/07/2026
Every year, the International Conference on Machine Learning (ICML) reveals where thousands of AI researchers have decided to put their work.
This year's ...
06/07/2026
A death can be unsuspicious, but it has to be explained
What happened to Ke...
05/07/2026
We've gone to another level of integrating the graphics into the set architecture' - Zac Fields, SVP, Graphic Technology and Integration, FOX Sports...
05/07/2026
Browser-based and desktop apps available
Digital Sunset Studios have been busy working on an interesting project: a free software tool that provides compute...
04/07/2026
When Canada qualified for the FIFA World Cup 2026, OneSoccer knew this wasn'...
04/07/2026
Celebrates company's 80th anniversary
Rhodes have recently revealed that they will be producing a limited run of electric pianos in celebration of their...
04/07/2026
Blackmagic Design Cameras Empower Youth Broadcasting Program
Brie Clayton July 3, 2026
0 Comments
Blackmagic Pocket Cinema Camera 6K Pro and Blackmagi...
04/07/2026
iZotope Joins Boris FX
Boris Yamnitsky July 3, 2026
0 Comments
iZotope, the team behind RX and Ozone, is joining Boris FX. A letter from founder Boris...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
03/07/2026
New bundle & three Single Packs
Continuing to expand their already sizeable orchestral collection, VSL's latest release introduces three new Single Pack...
03/07/2026
Venue installs new ATC-equipped control room
LSO St Luke's, a unique music venue that also serves as the home of the London Symphony Orchestra, have rec...
03/07/2026
Caden Pearson appointed new Commissioning Editor for NITV
3 July, 2026
Media releases
National Indigenous Television (NITV) has strengthened its commitment...
03/07/2026
1 February 2023
SHARE Facebook Twitter Linkedin Email
Munich, Germany, 1st February 2023: Cinegy GmbH, the premier provider of software technology for digit...
03/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
03/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
Year to date revenues broadly in line vs prior year with strong momentum going into Q4 
