
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
09/11/2025
Dalet today announced a transformative leap forward for media operations: Agentic Artificial Intelligence (AI) that unifies the Dalet ecosystem under one natura...
06/10/2025
France T l visions, France's leading broadcaster, has received the 2025 EBU ...
16/09/2025
SVG All-Stars: Leigh Michaud, Manager, Remote Operations, ESPNThe UConn grad rose from ESPN's mailroom to become one of its most valuable ops leadersBy Bran...
16/09/2025
Live From IBC 2025: Friday's Latest From Halls 1-4, Outdoor Exhibits in Amst...
16/09/2025
Live From IBC 2025: Saturday's Latest From Halls 5-7 in Amsterdam By SVG Staff
Friday, September 12, 2025 - 17:00
Print This Story
The SVG Europe and ...
16/09/2025
Live From IBC 2025: Sunday's Latest From Halls 8-10 in Amsterdam By SVG Staff
Saturday, September 13, 2025 - 17:00
Print This Story
The SVG Europe and...
16/09/2025
Live From IBC 2025: Monday's Latest From Halls 11-14 in Amsterdam By SVG Staff
Sunday, September 14, 2025 - 17:00
Print This Story
The SVG Europe and ...
16/09/2025
Amazon Prime Video Picks Up Four Hours of Early-Round Masters Coverage in 2026By Jason Dachman, Editorial Director, U.S.
Tuesday, September 16, 2025 - 10:15 a...
16/09/2025
VERSANT Inks Deal for League One Volleyball as Women's Sports Rights Slate G...
16/09/2025
ESPN VP, Corporate Communications, Katina Arnold Named SVP, Disney Advertising C...
16/09/2025
IBC 2025 in Review: SVG Europe's Full Collection of Video Interviews From th...
16/09/2025
Hace una d cada, la m sica latina representaba apenas el 8% de las reproducciones globales en Spotify. Hoy, constituye m s de una cuarta parte (27%) de toda la ...
16/09/2025
A decade ago, Latin music made up just 8% of global Spotify streams. Today, it a...
16/09/2025
Spotify is expanding our video lineup with a new partnership with Zoo 55, part of ITV Studios. For the first time, acclaimed content from ITV Studios is landing...
16/09/2025
At DSEI 2025, James Dunne of L3Harris Maritime UK chaired a panel on aligning the supply chain to the warfighter, where leaders discussed modernising support fo...
16/09/2025
Calrec has strengthened its collaboration with audio metering expert RTW by integrating RTW's new TMxCore metering platform across its full range of Argo IP...
16/09/2025
College Football Scores Top Telecast in August with 16M+ Viewers on FOX, Followe...
16/09/2025
Collaboration marks the first SSP integration of Gracenote IDs, enabling show-le...
16/09/2025
AMSTERDAM The organizers of IBC2025 are reporting that 43,858 visitors from more than 170 countries attended the event, which had more than 1,300 exhibitors and...
16/09/2025
Wooden Camera announces the release of its new Accessory Collection for the FUJIFILM GFX ETERNA 55. The highlights of this collection include vital power soluti...
16/09/2025
Anton/Bauer, a leading manufacturer of mobile power solutions for broadcast and cinematic equipment, has announced the launch of Anton/Bauer Fleet Management, a...
16/09/2025
Teradek, a leading provider of video transmission and live production solutions, today announced the launch of Prism Jetpack, a groundbreaking 5G video contribu...
16/09/2025
Astera, the leader in wireless LED lighting solutions, announces the ultra-versatile SolaBulb. Building on the success of the Astera bulb family, SolaBulb intro...
16/09/2025
As the world gathered at TED2025 to explore the provocative theme "Humanity Reimagined", Clear-Com , supported by NETGEAR networking infrastructure, delivered f...
16/09/2025
Bitfocus' Buttons platform celebrated as a catalyst for AV and broadcast convergence
Bitfocus has been named winner of the IABM Impact Award Pro AV Chan...
16/09/2025
Record entries and outstanding innovation celebrated at IBC2025 as the MediaTech community honors its leading people, projects and organizations
IABM announced...
16/09/2025
Harmonic (NASDAQ: HLIT) today announced that SKY Perfect JSAT Corporation (SJC), a leading satellite operator and pay-TV provider in Japan, has partnered with H...
16/09/2025
Telestream congratulates Sky Group, which has been awarded the prestigious IBC Innovation Award for Content Distribution for its MediaMesh platform on Sunday, S...
16/09/2025
Leading space solutions company will use optical ground stations to deliver faster, more secure data from space
Luxembourg, September 15, 2025 - SES, a leading...
16/09/2025
NOVI, Mich. ENCO has unveiled Raptor, a cloud-based live streaming captioning encoder that injects the speed, power and reliability of real-time AI capabilities...
16/09/2025
NEW YORK Comcast NBCUniversal and NBCUniversal Local have announced that a total of $2.5 million has been awarded in 2025 to 69 nonprofit organizations servicin...
16/09/2025
AMSTERDAM Martin Euredjian has joined Atomos as director of advanced imaging and will lead innovation for advanced display technology....
16/09/2025
AMSTERDAM Calrec introduced a 48-faced Argo M and showcased its largest Argo software updates at the recently concluded IBC2025....
16/09/2025
AMSTERDAM Lawo introduced its HOME Audio Shuffler app, a replacement for a traditional baseband audio matrix within an IP-based Dynamic Media Facility, during t...
16/09/2025
CBS is reporting that the 77TH Emmy Awards hosted by Nate Bargatze on Sunday Sept. 14 was seen by more than 7.42 million viewers on the CBS Television Network a...
16/09/2025
Back to All News
Meet the Adversaries That Will Clash in Rulers of Fortune, a S...
16/09/2025
Back to All News
Would You Take 30 Million Baht from a Dead Persons Account? E...
16/09/2025
Back to All News
Netflix Unveils the Official Trailer and Poster for She Walks ...
16/09/2025
Comscore Unveils The Scoreboard: An Interactive Destination Surfacing Consumer B...
15/09/2025
Steve Zahn, Winona Ryder, Ethan Hawke, and Janeane Garofalo star in Ben Stiller&...
15/09/2025
Global K-Pop sensation aespa is redefining what it means to be rich with the r...
15/09/2025
Every day, millions of people around the world turn to Spotify to enjoy the audi...
15/09/2025
After months of intensive planning and implementation, Brembo SGL Carbon Ceramic...
15/09/2025
A U.S. Marine launches a Javelin shoulder-fired anti-tank missile during a training exercise. (Photo credit: U.S. Marine Corps)...
15/09/2025
AMSTERDAM TV Tech has named its Best of Show Awards winners for IBC2025, which wraps up today. Entrants were judged by a panel of industry experts on the criter...
15/09/2025
Unique sports content orchestration platform builds momentum among SES's cus...
15/09/2025
Back to All News
Over 41 Million Global Viewers On Netflix Watch Terence Crawfo...
15/09/2025
Paris, France - September 15, 2025 -- Space42 (ADX: SPACE42), the UAE-based AI-p...
15/09/2025
Back to All News
The Great Flood' Teaser Trailer Previews A Gripping Struggle for Survival
Entertainment
15 September 2025
GlobalSouth Korea
Link copi...
15/09/2025
Back to All News
From Hardship to Hope: Typhoon Family' Presents a Tale of...