Sony Pixel Power calrec Sony

Yahsat reports robust financial performance for the nine months ended 30 September 2021

08/11/2021

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
LINK: https://www.yahsat.com:443/en/news-and-media/news/2021/yahsat-reports-...
See more stories from yahsat

Most recent headlines

06/10/2025

France Tlvisions Wins Prestigious 2025 EBU Technology & Innovation Award in Groundbreaking Collaboration with Dalet

France T l visions, France's leading broadcaster, has received the 2025 EBU ...

04/09/2025

Monumental Sports & Entertainment and Dalet Win Prestigious 2025 NAB Show Project of the Year Award

Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...

07/08/2025

Tata Motors & Dolby Bring Dolby Atmos to Harrier.ev, Redefining In-Car Entertainment Experience

July 8 2025, 22:30 (PDT) Tata Motors & Dolby Bring Dolby Atmos to Harrier.ev, R...

12/07/2025

TV Station Groups Launch Texas Flood Relief Efforts

As the death toll continues to mount, with at least 120 killed and more than 170 people still missing on July 10 from devastating Texas floods, a number of broa...

12/07/2025

DirecTV Adds ViX Premium With Ads to MiEspaol Genre Pack

EL SEGUNDO, Calif., and MIAMI -DirecTV and TelevisaUnivision have signed a deal that will make the ad-supported premium subscription tier of ViX, ViX Premium wi...

11/07/2025

2025 Sundance Institute Producers Lab Fellows Announced

PARK CITY, UTAH, July 11, 2025 - The nonprofit Sundance Institute announced today the 11 producers chosen for its annual Producers Labs, returning to Ucross Fou...

11/07/2025

Superman' Filmmaker James Gunn Reveals the Playlists Inspired by Your Favorite Characters

If you've ever wondered what might be playing in Clark Kent's headphones...

11/07/2025

L3Harris Delivers First P-8A Poseidon Aircraft to US Navy

L3Harris Technologies President of Intelligence, Surveillance and Reconnaissance Jason Lambert and General Manager of L3Harris Waco facility Sean Ling held a ce...

11/07/2025

WETA Launches WETA+ Free Streaming Service

ARLINGTON, Va. WETA, the flagship public media station in the national capital area, has launched WETA+, a new streaming service tailored for the local Washingt...

11/07/2025

TV Tech's Top Regulatory Stories of 2025

The Federal Communications Commission has emerged as one of the central players in the broadcast TV landscape in 2025, with its deregulatory policies sparking h...

11/07/2025

Calrec to Feature Suite of Interconnected Audio Solutions at IBC2025

Calrec will introduce usability, customization and system enhancements across its entire range of Argo consoles during IBC2025, Sept. 12-15, at the RAI Amsterda...

11/07/2025

Encompass Supports DAZN's Coverage of 2025 FIFA Club World Cup

LONDON Encompass Digital Media said it will support live and on-demand viewing of the 2025 FIFA Club World Cup across multiple global regions for sports enterta...

11/07/2025

SBE Survey: Certified Broadcast Engineers Earn More

Two-thirds of broadcast engineers reaped the benefits of a pay raise within the last year....

11/07/2025

SmallHD Unveils Quantum 27 OLED Monitor

CARY, N.C. SmallHD has launched the Quantum 27, a new 26.5-inch Quantum-Dot OLED monitor designed to deliver postproduction image quality in a compact, set-frie...

11/07/2025

Tegna Will Pay $225K to Settle FCC Investigation

The Federal Communications Commission's Enforcement Bureau and Tegna have entered into a consent decree that will settle an investigation into the accidenta...

11/07/2025

Sens. Markey, Lujn Again Call for FCC Vote on Paramount-Skydance Merger

WASHINGTON Following news in early July that Paramount had settled President Donald Trump's lawsuit, Sens. Edward J. Markey (D-Mass.) and Ben Ray Luj n (D-N...

11/07/2025

Model/Actriz Performs Lead Single Cinderella on The Late Show with Stephen Colbert

Model/Actriz Performs Lead Single Cinderella on The Late Show with Stephen Colbe...

11/07/2025

Behind the Mic: Amazon Prime Preps for First Season of NBA Action; MSG Networks Adjusts Broadcast Booths for Rangers, Devils

Behind the Mic: Amazon Prime Preps for First Season of NBA Action; MSG Networks ...

11/07/2025

SVG New Sponsor Spotlight: Suite Studios' Craig Hering on Adapting to Clients' Needs With Scalable Cloud-Based Storage

SVG New Sponsor Spotlight: Suite Studios' Craig Hering on Adapting to Client...

11/07/2025

2025 SVG Content Management Forum Breaks Down AI's Impact, Continued Transition to the Cloud

2025 SVG Content Management Forum Breaks Down AI's Impact, Continued Transit...

11/07/2025

A Journey HOME: University of Nebraska's HuskerVision Goes IP

A Journey HOME: University of Nebraska's HuskerVision Goes IP Leaders from the HuskerVision and Lawo share their IP learnings By SVG Staff Friday, July 1...

11/07/2025

CMSI, Remote Picture Labs, Ace ESPN's Cloud-Based Editing Efforts for Wimbledon

CMSI, Remote Picture Labs, Ace ESPN's Cloud-Based Editing Efforts for Wimble...

11/07/2025

Netflix Enters the Live-Boxing-Production Ring for Round 2 With Historic Taylor-Serrano 3 Card at MSG

Netflix Enters the Live-Boxing-Production Ring for Round 2 With Historic Taylor-...

11/07/2025

'Too Hot to Handle: Italy' Is Coming on July 18 Only on Netflix

Back to All News Too Hot to Handle: Italy Is Coming on July 18 Only on Netflix Entertainment 11 July 2025 GlobalItaly Link copied to clipboard July 11, 20...

11/07/2025

Netflix Will Release 'Death Inc.' Seasons 1, 2 and 3

Back to All News Netflix Will Release Death Inc. Seasons 1, 2 and 3 Entertainment 11 July 2025 GlobalSpain Link copied to clipboard Season 1 Season 2 Se...

11/07/2025

AI and Multimedia Authenticity Standards Collaboration

AI and Multimedia Authenticity Standards Collaboration launches two papers to guide the future of AI integration, today at the AI for Good Global Summit The...

11/07/2025

A Gaming GPU Helps Crack the Code on a Thousand-Year Cultural Conversation

Ceramics - the humble mix of earth, fire and artistry - have been part of a global conversation for millennia. From Tang Dynasty trade routes to Renaissance pa...

10/07/2025

Taliban repression silences award-winning Afghan woman journalist

The current holder of the prestigious Thomson Foundation Young Journalist of the Year Award has been forced to stop reporting over fears for her safety in Afgha...

10/07/2025

A New Report Puts Aussie Artists in the Spotlight

Spotify is turning up the volume on Australian music with a multipronged initiative designed to highlight the dominance of Australian artists on the global stag...

10/07/2025

Spotify Toasts Oasis's Return With Exclusive Ways for Fans to Get Closer to the Music That Defined a Generation

This is not a drill: Oasis is back on the road-marking its first live performanc...

10/07/2025

Spotify and Youth Music Open Doors for Future Artists

The music industry depends on fresh ideas, bold voices, and emerging talent. Yet across the U.K., too many young musicians lack the space to develop their craft...

10/07/2025

Nielsen Appoints Richard Pacheco as Head of Global Partnerships

NEW YORK - July 10, 2025 - Nielsen, the global leader in audience measurement, data and analytics, today announced that it appointed Richard Pacheco as head of ...

10/07/2025

Sponsored: Robotic Deployments Are Transforming Local News

Local newscasts don't exist in a vacuum. News directors and station management constantly evaluate what's working, what isn't and perhaps most impor...

10/07/2025

Stuttgart Media University Upgrades Studio with Lawo mc56

Lawo has announced that Stuttgart Media University (Hochschule der Medien, HdM) has comprehensively modernized its central recording studio after selecting an I...

10/07/2025

SMPTE Opens Early Bird Registration for Media Technology Summit

The Society of Motion Picture and Television Engineers (SMPTE) has opened early-bird registration for the Media Technology Summit, which will take place in a ne...

10/07/2025

TNDV Television Launches Aspiration 35 to Support Cinematic Workflows

NASHVILLE, Tenn. TNDV Television has launched Aspiration 35, a new version of its 40-foot Aspiration truck reimagined for cinematic multicamera productions....

10/07/2025

Key Code Education Launches Beginner, Intermediate Training Courses

BURBANK, Calif. Key Code Education, a provider of instructor-led postproduction training, is growing its curriculum with new programs for beginner and intermedi...

10/07/2025

Actus Digital to Show Actus X Intelligent Monitoring With AI at IBC2025

HACKENSACK, N.J. Actus Digital will demonstrate how broadcasters can transform compliance monitoring from a necessary expense into a strategic revenue driver at...

10/07/2025

Comments on FCC Ownership Rules Due in August

The Federal Register has published a summary of the Federal Communications Commission's Public Notice seeking comments on its ownership rules that lists a d...

10/07/2025

Netflix Presents the Official Trailer for 'Superestar'

Back to All News Netflix Presents the Official Trailer for SuperestarPlay Video Play Video Entertainment 10 July 2025 GlobalSpain Link copied to clipboard...

10/07/2025

From Terabytes to Turnkey: AI-Powered Climate Models Go Mainstream

In the race to understand our planet's changing climate, speed and accuracy are everything. But today's most widely used climate simulators often strugg...

10/07/2025

Indonesia on Track to Achieve Sovereign AI Goals With NVIDIA, Cisco and IOH

As one of the world's largest emerging markets, Indonesia is making strides toward its Golden 2045 Vision - an initiative tapping digital technologies and...

10/07/2025

VEON and Cohen Circle Secure Investor Commitments for Kyivstar Listing

10 Jul 2025 VEON and Cohen Circle Secure Investor Commitments for Kyivstar Listing Kyiv, New York, Dubai, and Philadelphia - July 10, 2025 - VEON Ltd. (Nasdaq:...

10/07/2025

5G for All? What the DFL's Use of Easy5G, RefCam Could Mean for Events in the Future

5G for all? What the DFL's use of Easy5G and RefCam could mean for events in...

10/07/2025

Save the Date: PGA TOUR Studios Welcomes SVG Remote Production Summit on Oct 14-15

Save the Date: PGA TOUR Studios Welcomes SVG Remote Production Summit on Oct 14-...

10/07/2025

Cloud on the Road: How Remote-Production-Service Providers Are Adapting to a New Era

Cloud on the Road: How Remote-Production-Service Providers Are Adapting to a New...

10/07/2025

Seattle Kraken's Ryan Schaber on the NHL Team Taking Live Game Productions In-House

Seattle Kraken's Ryan Schaber on the NHL Team Taking Live Game Productions I...

10/07/2025

FOX Sports Reboots Small Control Room in Los Angeles as Hub for Vertical-First Production

FOX Sports Reboots Small Control Room in Los Angeles as Hub for Vertical-First P...

10/07/2025

SVG Sit-Down: MSE's Zach Leonsis, ViewLift's Rick Allen Go Deep on Joint Venture Targeting Local-Sports-Media Market

SVG Sit-Down: MSE's Zach Leonsis, ViewLift's Rick Allen Go Deep on Joint...