
1Q22 revenue of AED 362.5 million [USD 98.7 million], up 9.4% year-on-year
1Q22 Adjusted EBITDA of AED 213.4 million [USD 58.1 million], up 6.8% year-on-year with a healthy margin of 58.9%
Net Income (profit attributable to shareholders) of AED 73.8 million [USD 20.1 million], up 26.4% year-on-year
Contracted future revenue of AED 8.1 billion [USD 2.2 billion], up by AED 642.1 million [USD 174.9 million] or 8.6% since the start of the year
Awarded a 5-year AED 908.9 million [USD 247.5 million] managed services mandate by the UAE Government for satellite communications capabilities
Strong Discretionary Free Cash Flow (DFCF) of AED 333.1 million (USD 90.7 million), supporting an attractive dividend expected to total at least 16.12 fils [US cents 4.39] per share, an increase of 2%, split into two equal instalments around October 2022 and April 2023
FY2022 guidance range maintained
Al Yah Satellite Communications Company PJSC ( Yahsat or the Group ) listed on the Abu Dhabi Securities Exchange ( ADX ) under (SYMBOL: YAHSAT) (ISIN: AEA007501017), the UAE's flagship satellite solutions provider, today announced its financial results for the three-month period ended 31 March 2022 ( 1Q22 ).
Ali Al Hashemi, Group Chief Executive Officer of Yahsat, commented:
Yahsat has had an excellent start to 2022 with significant year-on-year growth in revenue, adjusted EBITDA and Net Income. With the recent award of a 5-year managed services mandate from the UAE Government, reinforcing our position as its preferred satellite solutions partner, we strengthened our foundations for long term sustainable growth, and now show contracted future revenue of AED 8.1 billion (USD 2.2 billion), 5.4 times our annual revenue.
With almost 90% of remaining projected revenue for the current year already secured, we remain very confident in our outlook for Yahsat and reiterate our guidance for FY2022.
Financial Overview
AED millions
1Q22
1Q21
Change%
Revenue
362.5
331.3
9.4%
Adjusted EBITDA
213.4
199.8
6.8%
Net Income (Profit attributable to the shareholders)
73.8
58.4
26.4%
Discretionary Free Cash Flow
333.1
315.8
5.5%
Adjusted EBITDA Margin %
58.9%
60.3%
Net Income Margin %
20.4%
17.6%
Cash and short-term deposits
1,756.2
1,470.0*
19.5%
* (as of 31 Dec 2021)
Following the exceptional performance in 4Q21, Yahsat has continued building on its strong momentum in 2022 with first quarter revenue of AED 362.5 million [USD 98.7 million] reflecting an increase of 9.4% year-on-year. All business segments performed well with a particularly exceptional performance in both Managed Solutions and Mobility Solutions, which increased by 26.0% and 45.4% respectively.
As at 31 March 2022, the Group's contracted future revenue stood at AED 8.1 billion [USD 2.2 billion] equivalent to around 5.4 times annualized revenue. Future revenue increased by 8.6% since the start of the financial year and by 47.3% since the beginning of 2021, underpinned by the recent 5-year AED 908.9 million [USD 247.5 million] managed services mandate awarded by the UAE Government.
Adjusted EBITDA of AED 213.4 million [USD 58.1 million] increased by 6.8% year-on-year, generating a strong margin of 58.9%. Net income (profit attributable to shareholders) of AED 73.8 million [USD 20.1 million] increased by 26.4% year-on-year, resulting in a higher net income margin of 20.4% versus 17.6% in the prior period.
The Group's balance sheet remained strong. At 31 March 2022, the Group's net debt stood at AED 382.1 million [USD 104.0 million] with a leverage ratio (net debt to Adjusted EBITDA) of 0.4x.
Together with Discretionary Free Cash Flow for the period of AED 333.1 million [USD 90.7 million] and a cash conversion ratio of 97.6%, the Group is well positioned to meet its future dividend, growth and capital expenditure commitments.
Operating Segments
AED millions
1Q22
1Q21
Change %
Infrastructure
217.7
220.2
-1.1%
Managed Solutions
55.8
44.3
26.0%
Mobility Solutions
67.8
46.6
45.4%
Data Solutions
21.1
20.2
4.4%
Total Revenue
362.5
331.3
9.4%
Infrastructure
Infrastructure accounted for approximately 60% of Group revenue, mainly comprising the 15-year long-term Capacity Services Agreement with the UAE Government. Overall revenue remained broadly stable at AED 217.7 million [USD 59.3 million].
Managed Solutions
Managed Solutions, contributing approximately 15% to Group revenue, continued the strong growth momentum seen in 4Q21. 1Q22 revenue grew year-on-year by 26.0% reflecting the consistent uptake of recommissioned projects that were delayed in 2021, in addition to new requirements stemming from the expansion of the Oil & Gas sector.
On 3 February 2022, Yahsat Government Solutions ( YGS ) was awarded a AED 24 million [USD 7 million] contract by Abu Dhabi Ship Building ( ADSB ) to provide advanced and secure satellite communication services. Yahsat will design, deliver and integrate the satellite communication systems in vessels produced by ADSB.
On 8 February 2022, Yahsat Government Solutions ( YGS ) was awarded a AED 908.9 million [USD 247.5 million] mandate to provide enhanced managed services to the UAE Government for its satellite communications capabilities. The agreement augments the previous operations and maintenance services provided, to include technology management support, from January 2022 until the end of 2026. This mandate reinforces Yahsat's long-standing relationship with the UAE Government, which has existed for more than a decade, highlighting the Group's role as the preferred partner for capacity and solutions since 2011.
Mobility Solutions
Mobility Solutions accounted for approximately 19% of Group revenue and recorded stellar year-on-year growth of 45.4%, capitalizing on its exceptional 4Q21 performance. Service revenue increased by around 4% with d
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
01/06/2026
January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026
Throughout the week, Dolby brings to life the latest innovatio...
02/05/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
01/05/2026
January 5 2026, 18:30 (PST) NBCUniversal's Peacock to Be First Streamer to ...
01/04/2026
January 4 2026, 18:00 (PST) DOLBY AND DOUYIN EMPOWER THE NEXT GENERATON OF CREATORS WITH DOLBY VISION
Douyin Users Can Now Create And Share Videos With Stun...
16/03/2026
DAZN will allow fans in select international territories to watch the NCAA men...
16/03/2026
IDM and The Skate Board Association (SBA) have announced a partnership with Coop...
16/03/2026
Solid State Logic (SSL) will debut the Net I/O ST 2110 Bridge at NAB 2026 (booth C6907), a standalone unit that converts between ST 2110 and Dante audio formats...
16/03/2026
Marshall Electronics (Booth C8339) is introducing its first all-IP 4K POV camera, the CV574-WP, at NAB 2026. The camera carries an IP67 weatherproof rating for ...
16/03/2026
Sony Electronics' Camera Verify (beta), a feature of its Camera Authenticity Solution which enables news organizations to share content authenticity informa...
16/03/2026
FloSports has announced a partnership with Storied Sports, a content and IP studio founded by former espnW and The Players' Tribune executives, to develop s...
16/03/2026
Montreux Jazz Festival has announced a multi-year collaboration with Gravity Media, who will become the Festival's Audio Visual Production Provider followin...
16/03/2026
USSI Global, a provider of customized network, broadcast and digital signage systems and services, has announced Ralph Annunziata joined the company on Jan. 5 a...
16/03/2026
Boland Communications (booth C3519) will exhibit at NAB Show 2026 in Las Vegas, ...
16/03/2026
Built in partnership with Diversified, the system
As the sports broadcast indus...
16/03/2026
Global FAST (Free Ad-supported Streaming TV) viewership grew 21% year-over-year ...
16/03/2026
Behind The Mic provides a roundup of recent news regarding on-air talent, includ...
16/03/2026
A still from Mr. Nobody Against Putin by David Borestein and Pavel Talankin, a...
16/03/2026
Promises studio-grade fidelity for the stage
Cloudvocal have announced the launch of a new instrument mic designed for professional live performers and engi...
16/03/2026
Popular MIDI/CV converter & interface overhauled
Kenton have announced the launch of the USB Solo Mk2, a new and improved version of their compact MIDI to C...
16/03/2026
Running from 16-29 March 2026
Starting from today (16 March) and running until 29 March 2026, Sonarworks are offering discounts of up to 40% across their ra...
16/03/2026
Dr. Robert H. Goddard and a liquid oxygen-gasoline rocket in the frame from which it was fired on March 16, 1926, at Auburn, Massachusetts. Credit: NASA....
16/03/2026
Precision-guided munitions shown in production illustrate one of many operational systems benefiting from modernized M-Code GPS, supporting assured positioning,...
16/03/2026
NEW YORK - March 16, 2026 - A E Global Media and Nielsen today announced a new,...
16/03/2026
aconnic AG (ISIN: DE000A0LBKW6), Munich, is delivering the first commercial 100-Gigabit systems following successful validation and certification for customer n...
16/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
16/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
16/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
16/03/2026
Shotoku USA, Shotoku Broadcast Systems' North American operation, will unveil significant additions to its platform at NAB 2026. Topping the list is the wor...
16/03/2026
Ikegami USA will demonstrate the latest additions to its wide range of broadcast-quality cameras, controllers and monitors on Central Hall booth C3819 during th...
16/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
16/03/2026
ELEMENTS launches GRID at NAB Show 2026
Brie Clayton March 15, 2026
0 Comments
North Hall, Booth N1717
ELEMENTS returns to NAB Show 2026, with an exp...
16/03/2026
Blackmagic Design Cameras Capture Artist Salavat Fidai's Micro Sculptures
Brie Clayton March 15, 2026
0 Comments
6K sensor and open gate capabilit...
16/03/2026
DHD to Introduce Latest Generation Broadcast Audio Mixers at NAB 2026, Las Vegas
Brie Clayton March 15, 2026
0 Comments
Hero image: Front of DHD RM1 P...
16/03/2026
16 Mar 2026
VEON Files its 2025 Annual Report on Form 20-F Dubai and New York, March 16, 2026 - VEON Ltd. (Nasdaq: VEON), a global digital operator ( VEON'...
16/03/2026
Six Couples. 100 Days Apart. One Question: Does Absence Make the Heart Grow Fond...
16/03/2026
Monday 16 March 2026
Tina Fey, Jamie Dornan and Riz Ahmed announced as first th...
16/03/2026
Back to All News
Netflix Has Released the Trailer for Love at Last, Starring Ed...
16/03/2026
The reporting option was introduced following extensive consultation with publis...
16/03/2026
After a nail-biting Grand Finale, Rose of Tralee Katelyn Cummins has been announced as the winner of Dancing with the Stars 2026.
The four finalists each dance...
16/03/2026
Welcome to Moore Street will begin on RT One and RT Player on Thursday 19 Marc...
15/03/2026
Visit ToolsOnAir at NAB Las Vegas 2026
More Details:From April 19-22, join us at NAB Show Las Vegas in the North Hall, Booth N1258, for an exclusive preview of...
15/03/2026
Latest dark drama, thrillers & tension library announced
The Very Loud Indeed Co.'s latest Kontakt library has just arrived, delivering a third instalme...
15/03/2026
Johannesburg, 14 March 2026 - On 13 and 14 March 2026, the 19th Annual South Afr...
15/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
14/03/2026
Combines mic, USB interface & wireless IEMs
Following a successful Kickstarter campaign, HISONG have announced that their innovative AirStudio S1 device is ...
14/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
14/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
14/03/2026
Yospace, the trusted leader in Dynamic Ad Insertion (DAI), stitched 5.4 billion one-to-one addressable OTT advertisements across the 17 days of Milano Cortina 2...
14/03/2026
Telestream Advances Production-Ready AI Across Its Product Portfolio
Brie Clayton March 13, 2026
0 Comments
New AI capabilities drive smarter automati...