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
11/12/2025
Dalet, a leading provider of cloud-native, end-to-end media workflow solutions, ...
06/12/2025
In a live broadcast from the Reagan National Defense Forum, L3Harris Chair and CEO Christopher Kubasik joined Morgan Brennan on CNBCs Closing Bell: Overtime. Ku...
06/12/2025
FORT LAUDERDALE, Fla. A new survey from Pixitmedia by Datacore revealed a major shift in the Media & Entertainment industry in media archiving, with 85% of resp...
06/12/2025
HACKENSACK, N.J. LiveU has announced that the national public broadcaster Czech Television has completed one of the largest LiveU live production deployments fo...
06/12/2025
NEW YORK The National Academy of Television Arts and Sciences (NATAS) presented the Excellence in Production Technology Emmy Award to NASA+ and Dr. Tom Leight...
05/12/2025
2025 Sports Broadcasting Hall of Fame: Curt Gowdy Jr. - Master Storyteller, Nati...
05/12/2025
SVG Sit-Down: Veritone's Sean King on the Power of Mining Video, Audio DataThe company's Data Refinery offers users total control and governance over da...
05/12/2025
Platinum White Paper: Inside the Nashville Predators' Unified, Flexible, Sca...
05/12/2025
Netflix Reaches Agreement To Acquire Warner Bros. Following Planned WBD SplitThe deal does not include WBDs sports assets like TNT Sports (US, UK, LatAm), Euros...
05/12/2025
FOX Sports Returns to Indianapolis for Primetime Broadcast of Big Ten Championsh...
05/12/2025
SVG Summit 2025 Preview: Digital Engagement & Monetization Workshop Tackles the ...
05/12/2025
Atlanta United Lights Up New Emory Healthcare Studio With First Live Broadcast f...
05/12/2025
As Messi Takes the Pitch, MLS, Apple, NEP Roll Out Largest MLS Cup Production Ev...
05/12/2025
ESPN Enters College Football's Most Intense Month With Elevated Workflows fo...
05/12/2025
It's about that time! Awards season is in full swing, and the Film Independe...
05/12/2025
Every year, Spotify Wrapped offers a personalized look back at the audio that defined your year. It's a snapshot of your listening habits, designed to tell ...
05/12/2025
In 2025, Spotify's EQUAL, GLOW, and RADAR programs celebrated women, LGBTQIA , and emerging artists who turned moments into milestones. From breaking record...
05/12/2025
In our latest blog, we explain how Wi-Fi 7 rollouts can drive consumer loyalty with value-add services such as consumer cybersecurity. We also explore how this ...
05/12/2025
LOS ANGELES Netflix announced it has entered into an agreement to acquire the assets of Warner Bros. for $82.7 billion....
05/12/2025
NEW YORK Nielsens Gracenote has launched Gracenote Content Connect, a new ad platform that provides agencies, brands, supply-side platforms (SSPs) and demand-si...
05/12/2025
NEW YORK In an most important update to the workings of deal-based programmatic advertising, IAB Tech Lab has released version 1.0 of its Deals API for public c...
05/12/2025
NEW YORK Pass the turkey. Pass the stuffing. Pass the cranberry sauce. All are common requests of Americans celebrating Thanksgiving Day with family and f...
05/12/2025
NEW YORK Iris, the new cloud-connected camera control platform, has officially launched with features that turn virtually any PTZ camera into a software-connect...
05/12/2025
HOLLYWOOD, Calif. Netflix announced today that it has entered into an agreement to acquire the assets of Warner Bros. for $82.7 billion....
05/12/2025
NEW YORK Iris, the new cloud-connected camera control platform, has officially launched with features that turn virtually any PTZ camera into a software-connect...
05/12/2025
WASHINGTON The Federal Communications Commission has approved AT&T's $1.02 billion acquisition of spectrum from UScellular in a decision that was issued sho...
05/12/2025
The Best Coldplay Songs: 21 Tracks That Shoot for the Stars From Yellow to Viva La Vida, Fix You to Paradise, this playlist goes back to the start.
December ...
05/12/2025
Zafris Lecture Series Brings Nabil Ayers to Berklee The 32nd annual James G. Zafris Distinguished Lecture series was held on Thursday, November 13, with guest...
05/12/2025
Introducing New Perks to Help You Get Even More from LinkedIn Premium Published on Dec 5, 2025 Categories: Company News, Product News
LinkedIn Corporate Co...
05/12/2025
Friday 5 December 2025
A new Game of Thrones Tale: Official trailer for Sky Exc...
05/12/2025
Back to All News
Don Lee, Lee Jin-uk, and Lalisa Manobal to Star in Netflix Act...
05/12/2025
Tis the season of giving once again and this year we've taken our Give Back Fridays' concept and turned it on its head.
In the autumn we were approach...
05/12/2025
Brayden Gogis doesn't remember a time when he wasn't completely fixated on games in all forms. In preschool, when they asked us to dress up as what we ...
05/12/2025
The Grinch steals the spotlight as the theme for The Late Late Toy Show 2025
Tune in tonight at 9:35pm on RT One and worldwide on RT Player
#LateLateToyShow...
05/12/2025
RT Announces New Presenters of Flagship News Programmes
New RT Six One News co-presenter Tommy Meskill
Sarah McInerney & Justin McCarthy join Morning Ir...
04/12/2025
ToolsOnAir Blackmagic Design HyperDeck Event Presets for just:in mac pro 2025 & ...
04/12/2025
ToolsOnAir AJA Ki Pro Event Presets for just:in mac pro 2025 & just:in linux
More Details:Starting with version 5.5, both just:in mac pro and just:in linux sol...
04/12/2025
Wangu Kanuri from Kenya and Godwin Asediba from Ghana are two of this years finalists for Thomsons Young Journalist of the Year Award. The pair are runners-up i...
04/12/2025
SVG Sit-Down: ProximaVision's Claudio Lisman on Why Tethered Drones Could Be...
04/12/2025
SVG Campus Shot Callers: Imry Halevi, Senior Associate Director of Athletics, Co...
04/12/2025
Platinum White Paper: LiveU Lightweight Sports Production: A Step Change in Spor...
04/12/2025
London to Riyadh: DAZN brings the boxing glamour to new production levels for Be...
04/12/2025
Analysis: Paramount bets on the battering ram' with Champions League play By Callum McCarthy, Editor-at-Large
Tuesday, December 2, 2025 - 10:12
Print ...
04/12/2025
Space City Home Network Launches SCHN DTC App for Astros and RocketsThe Rockets and Astros were previously the lone NBA and MLB teams without a DTC appBy Jason...
04/12/2025
SVG Summit 2025 Preview: Content Workflows Workshop Spotlights Evolution of Spor...
04/12/2025
New Sponsor Spotlight: Geotech's Patrick Wambold On the Unreal Engine Revolu...
04/12/2025
Curt Gowdy Jr. - Master Storyteller, Nationally and RegionallyBy Jason Dachman, Editorial Director, U.S.
Thursday, December 4, 2025 - 1:52 pm
Print This Sto...
04/12/2025
(L-R) Rebecca Lichtenfeld, Mohammadreza Eyni, Sara Khaki, and Judith Helfand att...
04/12/2025
SBS launches Future Frames initiative to support emerging First Nations video ed...
1Q22 revenue of AED 362.5 million [USD 98.7 million], up 9.4% year-on-year 
