
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
The Universal Talent Identifier (HAND) has issued HAND IDs to 50 top prospects ahead of the 2026 MLB Draft, including consensus top-ranked players Roch Cholowsk...
07/07/2026
Cisco and the McLaren Mastercard Formula 1 Team have announced an extension of their partnership, expanding the scope from networking and communications to incl...
07/07/2026
LucidLink has announced a workflow integration with Adobe Frame.io that gives production teams unified access to Frame.io projects alongside supporting producti...
07/07/2026
Chyron has announced the appointment of Ahmed Magd as Sales Director for the Middle East. Magd joins from previous senior commercial roles at Riedel Communicati...
07/07/2026
Leader Electronics of Europe has announced that its PHABRIX Qx rasterizer and Le...
07/07/2026
eCLUTCH has announced it has acquired broadcast rights to the Esports World Cup 2026 for EMEA and MENA, covering the Middle East, Africa, the Balkans, Sweden, a...
07/07/2026
Riedel Communications and ARRI supported ORF's host broadcast of the Eurovis...
07/07/2026
ARRI has announced the ALEXA 35 Live Xtreme, a camera that adds high frame rate ...
07/07/2026
LiveU will exhibit at IBC 2026 (Stand 7.C24), showcasing the LU900Q Intelligent Production Unit, expanded Sony collaboration, and additions to its open IP-video...
07/07/2026
Telemundo's coverage is packaged with Multiview, Catch Up with Key Plays, in...
07/07/2026
The Australian Rugby League Commission (ARLC) has announced a seven-year media r...
07/07/2026
Produced onsite at The Star in Frisco, TX, live coverage of the two-day event airs on ESPN platforms
The season for Football Media Days is here, and the Big 12...
07/07/2026
Rogers Communications Inc. has announced an agreement to acquire the remaining 25% ownership stake in Maple Leaf Sports and Entertainment (MLSE) from Kilmer Spo...
07/07/2026
End-to-end broadcast solution includes fleet of mobile units, Cloud Control, and...
07/07/2026
Sports-production-tech experts sound off on the state of the industry...
07/07/2026
New mixer aimed squarely at instrument-level sources
Heritage Audio have clearly been busy recently, as alongside their all-new Tubestrip, they've also ...
07/07/2026
New channel strip combines popular hardware designs
The latest arrival to the Heritage Audio line-up brings together a selection of their praised hardware d...
07/07/2026
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
07/07/2026
New Kessler 10 data now available in Nielsen CMI gives brands a deeper view of h...
07/07/2026
New Nielsen Ad Intel and CMV data reveals rising competition in Australia's ...
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
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/07/2026
Riedel Communications and ARRI played a key role in one of the most technically ambitious Eurovision Song Contest productions to date. For the first time in the...
07/07/2026
Berklee Valencia Honors Eric Whitacre at the 2026 Commencement Ceremony The Grammy-winning composer was celebrated alongside this years cohort of masters degr...
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
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
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
The appointment will drive growth and innovation across the Media Business Unit
Fincons Group, a leading IT business consultancy and systems integrator company...
07/07/2026
International broadcast and streaming expert Big Blue Marble has announced a multi-month Proof of Concept (PoC) for Media over QUIC (MoQ) during a major interna...
07/07/2026
Test & measurement innovator, Leader Electronics of Europe, is proud to announce that two of its leading products, the PHABRIX Qx rasterizer and LeaderPhabrix L...
07/07/2026
Clear-Com announced that Ross Production Services (RPS), a leading provider of mobile production solutions for live events and broadcasts, has standardized on ...
07/07/2026
LiveU redefined live newsgathering with the invention of cellular bonding. At IBC2026, Stand 7.C24, the company will show how that foundation is evolving into t...
07/07/2026
LucidLink, a leader in cloud-based file services for content creators, today announced an enhanced workflow integration between LucidLink and Adobe Frame.io tha...
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
Tuesday 7 July 2026
Record audiences tune into the ICC Women's T20 World Cup 2026 on Sky Sports
The ICC Women's T20 World Cup 2026 was the most watche...
07/07/2026
Tuesday 7 July 2026
Official trailer released for Fightland, a revenge drama fr...
07/07/2026
Wuppertal July 7, 2026
Riedel and ARRI Bring Cinematic Live Production to the Eurovision Song ContestRiedel Communications and ARRI played a key role in one o...
07/07/2026
How MXL Connects More Than Media In this series, we explore the technologies, architectures and operational realities shaping modern media operations. Along the...
07/07/2026
To Whom It Concerns RT today confirmed that Patrick Kielty is to extend his contract as host of The Late Late Show.
Last season, the world's longest-runn...