Net income and EBITDA both grew by 35% and 4% respectively year-on-year
Abu Dhabi, United Arab Emirates, 8 May 2023: Al Yah Satellite Communications Company PJSC ( Yahsat or the Group ), the UAE's flagship satellite solutions provider listed on the Abu Dhabi Securities Exchange ( ADX , under symbol: YAHSAT, ISIN: AEA007501017) announced today its consolidated financial results for the three months ended 31 March 2023.
Yahsat continued to deliver year-on-year growth in revenue, EBITDA and Net Income, which increased 2%, 4% and 35% respectively during the quarter. On a normalised basis EBITDA and Net Income surged by 8% and 46% respectively.
First quarter revenues reached AED 369 million [USD 100 million] for the first time in Yahsat's history with the strong performance primarily driven by the Managed Solutions segment, which saw revenue increase significantly by 29% year-on-year to AED 72 million [USD 20 million]. Infrastructure, the Group's largest business segment, continued to deliver stable and predictable returns, reporting AED 220 million [USD 60 million] in revenue for the period, 1% higher than the prior year.
Highlights for the period include:
Revenue of AED 369 million [USD 100 million], up 2% year-on-year, driven by strong growth of 29% in Managed Solutions, and further growth in the Infrastructure and Data Solutions businesses.
Normalised EBITDA of AED 231 million [USD 63 million], up 8% year-on-year, delivering a superior margin of 63%.
Normalised Net Income of AED 108 million [USD 29 million] up 46% year-on-year, generating a strong margin of 29%.
Contracted future revenue of AED 7.0 billion [USD 1.9 billion], equivalent to 4.4 times last-twelve-month revenue.
Robust balance sheet with negative Net Debt, strong cash position and long-term visibility of future cash flows, continues to support Yahsat's investment in organic growth as well as opportunistic acquisitions, without impacting its progressive dividend policy.
Net finance costs were negative, boosting net income as finance income exceeded costs on higher cash balances benefiting from higher interest rates versus the prior period.
On track to grow full year 2023 dividend by at least 2% to 16.46 fils [4.48 cents] per share or AED 402 million [USD 109 million] based on the last closing share price, this implies an annualised dividend yield of over 6%, amongst the highest offered by UAE listed stocks.
Guidance for full year revenue, EBITDA, Discretionary Free Cash Flow and cash capex and investments remains unchanged.
Ali Al Hashemi, Group Chief Executive Officer of Yahsat, commented: Yahsat had a strong start to the year with continued focus on growing both our core government business and commercial segments, whilst optimising costs across the Group. The upcoming Thuraya-4 NGS satellite, due to be launched in 2024, followed by two potential new satellites, Al Yah 4 and Al Yah 5, reinforce this direction and present unique growth opportunities.
We are also working to progress previously announced initiatives with local and international partners targeting areas including satellite-enabled internet of things, vertical value-chain integration, satellite direct-to-device and earth observation.
The satellite industry is witnessing substantial investments as exciting new products and applications are brought to the market whilst the largest satellite operators consolidate to confront the transforming, competitive landscape. Our unique backlog of future revenues, reaching AED 7.0 billion [USD 1.9 billion] or 4.4 times last twelve-month revenues, as well as a robust balance sheet place us in a strong position to drive our future ambitions and continue delivering sustainable long-term growth.
The full set of first quarter financial disclosures, including a more detailed Management Discussion & Analysis report that clearly defines capitalised terms used in this press release, can be found within the Investor Relations section on Yahsat's website.
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...
19/08/2026
As the cost of IP nears price parity with traditional SDI, Reynolds argues that ...
19/08/2026
A private 5G bubble was chosen instead of traditional broadcast RF for the race ...
19/08/2026
(L-R) Rafael Manuel and Isabel Sicat attend the Filipi ana premiere during the 2026 Sundance Film Festival at The Ray Theatre on January 23, 2026, in Park Cit...
19/08/2026
Studio owners invited to have their say on rates cuts
The Music Producers Guild (MPG) are inviting UK-based studios to take part in an in-depth survey that ...
19/08/2026
Vintage-inspired desktop interface revealed
Harrison's latest hardware offering sees them head into the world of audio interfaces, delivering a 10-in/12...
19/08/2026
Granular effect remains locked to scale and tempo
Described as your dream granular effect , Minimal Audio's latest creation is capable of turning any s...
19/08/2026
First polyphonic SWAM instrument incoming
Audio Modeling's latest physical-modelling orchestral instrument is just around the corner, and is now availab...
19/08/2026
World Cup Games Generate 84 Billion Minutes Across FOX, Fox Sports 1 and NBCU...
19/08/2026
July brought typical peak-holiday drops in viewership, driven primarily by viewers stepping away from screens and a visible decline in reach across both traditi...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Henry joins BCE as the company accelerates its commercial strategy and expands its international presence across the media, broadcast and technology markets. He...
19/08/2026
iWedia, a leading provider of software solutions for connected TV devices, today announced a major milestone in Android platform optimization with the successfu...
19/08/2026
NTP Technology announces that ST 2110-30 audio-over-IP connectivity with AES67 and RAVENNA capabilities is now available for the brand's world-class audio i...
19/08/2026
Net Insight has been selected to provide its Nimbra platform by the service provider Big Blue Marble, formerly ORS Group, as the core media transport solution f...
19/08/2026
LiveU has supported Coventry City FC and several other top-flight UK football clubs through one of their most demanding live production challenges of the year, ...
19/08/2026
Nature Seekers Documentary Shot with Blackmagic URSA Cine 12K LF
Brie Clayton August 18, 2026
0 Comments
Filming endangered turtles required camera...
19/08/2026
Neyrinck Brings D-Control Consoles Back to Life on Apple Silicon with D-Control ...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Riedel Communications today announced that Edith Cowan University (ECU) in Perth, Australia, implemented a comprehensive communications infrastructure that brin...
19/08/2026
QuickLink, a leading provider of award-winning video production and remote guest contribution solutions, will spotlight a major leap forward in remote guest con...
19/08/2026
Integrated platform melds media asset management, playout automation and newsroom workflows
EMAM, PlayBox Neo and SNEWS have officially launched Nuvex, a conne...
19/08/2026
Screen Australia releases the Private Investment Toolkit to strengthen screen in...
19/08/2026
Do Aussies truly value local content? Unpacking Screen Currency 2026 with Deirdr...
19/08/2026
There's an early Christmas gift for Bookish fans, as UKTV confirms the re-commission of the hit U&alibi drama, created by and starring Mark Gatiss. Viewers ...
19/08/2026
Wednesday 19 August 2026
Sky gives sports fans the chance to watch multiple liv...
19/08/2026
On Saturday September 5 Katie Taylor will step into the ring for the fight of her life against Flora Pili in front of 80,000 fans in Croke Park. A legendary fig...
18/08/2026
SportStream 2026, a free three-day virtual event, will take place September 15-17. One registration provides access to all three days of live programming and on...
18/08/2026
BeckTV will introduce BeckFlow to the European market at IBC2026, demonstrated on the Providius stand (10.F53).
BeckFlow is a web-based schematic documentation...
18/08/2026
Boland Communications will introduce a SMPTE ST 2110 input option for its 4K monitors at IBC2026, along with a new 55-inch super-narrow bezel display for video ...
18/08/2026
Dolby Laboratories and the Seattle Seahawks have announced a partnership integrating Dolby OptiView into the Seahawks' live streaming coverage, making the S...
18/08/2026
For BMG Executive Producer of Sports Production, Graham Taylor, producing live s...
18/08/2026
TMRW Sports has appointed Rufus Hack as President of Golf, a newly created role in which he will lead the company's golf businesses including TGL presented ...
18/08/2026
SMT will provide race technology for FOX Sports' coverage of the Freedom 250 Grand Prix of Washington, D.C. on August 23, when the NTT INDYCAR SERIES races ...
18/08/2026
The live, YouTube-native roundtables combine fan voices, credentialed reporters,...
18/08/2026
Behind The Mic provides a roundup of recent news regarding on-air talent, includ...
18/08/2026
The industry legend sounds off on replacing the Heat's iconic Medusa score...
18/08/2026
William F. Rasmussen, the sports fan-turned broadcaster and entrepreneur whose out-of-the-box idea of a 24-hour cable sports network, ESPN, changed forever the ...
18/08/2026
DAZN Group has completed its acquisition of ViewLift, a provider of streaming and digital solutions for sports content owners. The acquisition was first announc...
18/08/2026
The American Association of Professional Baseball (AAPB) has added SI TV, Sports Illustrated's 24/7 streaming channel, as a broadcast partner for the remain...
18/08/2026
The Esports Foundation has announced that the inaugural Esports Nations Cup (ENC), originally scheduled for November 2026 in Riyadh, will be postponed to Novemb...
18/08/2026
Diversified has announced a new Global Managed Services Practice, consolidating the company's managed services capabilities into one organization. Rob Mello...
18/08/2026
Appear has completed a proof of concept with Thoroughbred Racing Productions (TRP), demonstrating multi-camera remote live production over bonded 5G cellular an...
Net income and EBITDA both grew by 35% and 4% respectively year-on-year
