
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 ...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
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 ...
30/04/2026
The Professional Women's Hockey League (PWHL) concluded its third regular season on Saturday, reporting growth across attendance, viewership, digital engage...
30/04/2026
NBC Sports will air national MLB coverage on Sundays beginning May 3, with MLB Sunday Leadoff on Peacock and NBCSN at 12:30 p.m. ET, followed by the debut of th...
30/04/2026
Clear-Com has appointed Brian Grahn as Market Outreach Manager of the Americas and Ben Turnwell as Business Development Manager for EMEA live.
Grahn joined Cle...
30/04/2026
ARRI has introduced the cforce MAX, a new lens motor for the Hi-5 lens control system. The cforce MAX is twice as fast as the cforce plus motor it replaces whil...
30/04/2026
Knuerr, Voxtronic, and IHSE will jointly present an integrated control room solu...
30/04/2026
The CW Network and ESPN have announced an agreement to make the ESPN App the exclusive streaming home for all CW Sports live events. CW Sports will continue to ...
30/04/2026
Ed Sheeran's The Loop' tour launched in Auckland in January 2026 before moving on to Australia, with South America and the United States to follow late...
30/04/2026
Audinate has announced Dante Preset Creator, a free online tool for configuring Dante network settings before hardware is available on site. Presets created in ...
30/04/2026
Yahoo Sports has announced the appointment of Jarrod Schwarz as General Manager of Yahoo Sports. Schwarz will oversee product, design, and technology; revenue a...
30/04/2026
Nielsen has released a new report, Get Ready with Media Intelligence: 2026 FIFA World Cup Edition, examining U.S. soccer viewership trends, fan engagement, and ...
30/04/2026
USA Lacrosse and SportsEngine have announced an expanded partnership, naming Spo...
30/04/2026
Telos Alliance will participate in the 2026 Media Production and Technology Show (MPTS), taking place May 13-14 at Olympia London. Rather than exhibiting from a...
30/04/2026
The global streamer buys the U.S. DTC platform solutions provider for a reported...
30/04/2026
Tigo Sports, Paraguay's leading sports broadcaster, has upgraded its video infrastructure with Ateme solutions for live encoding, multiplexing, and signal c...
30/04/2026
World Rugby and IMG have announced a long-term media rights partnership focused on growing rugby in the United States ahead of the Men's and Women's Rug...
30/04/2026
For the second year in a row, Overtime and the National Women's Soccer League (NWSL) are teaming up through a renewed content partnership to bring fans even...
30/04/2026
The 22-year ESPN vet's responsibilities will reportedly be taken over by SVP Mike Foss...
30/04/2026
In-venue and creative video staffers at the professional and collegiate level ha...
30/04/2026
Amazon and Duke University have announced a multiyear agreement for Prime Video to present exclusive coverage of three Duke Blue Devils men's basketball neu...
30/04/2026
Ratings Roundup is a rundown of recent rating news and is derived from press rel...
30/04/2026
Music is evolving, and so are the ways you discover and connect with artists. In...
30/04/2026
Between April 22-29, the first inaugural Stockholm Music Week brought together thought leaders and partners across industries including music, tech, government,...
30/04/2026
Iconic large-format console upgraded
API's iconic Vision console has just been treated to an overhaul that aims to meet the demands of today's profe...
30/04/2026
Comes complete with miking accessories
The LCT 440 Pure has proven to be a popular member of Lewitt's mic line-up, offering impressive technical perform...
30/04/2026
24 October 2026 at The Octagon, Sheffield
Now in its eighth year, SynthFest UK is the largest event of its kind in the UK, bringing together the top keyboar...
30/04/2026
SBS & NITV LEAD NATIONAL RECONCILIATION WEEK 2026 WITH LANDMARK GULPILIL DOCUMEN...
30/04/2026
Rohde & Schwarz equips new Terminal 3 at Frankfurt Airport with security scanner...
30/04/2026
Rohde & Schwarz expands broadband amplifier portfolio with new power classes up ...
30/04/2026
Jennifer Ehle (Contagion, Zero Dark Thirty) and Alex Hassell (Rivals, Wasteman, ...
30/04/2026
MELBOURNE, Fla., April 29, 2026 - L3Harris Technologies (NYSE: LHX) today announ...
30/04/2026
MELBOURNE, Fla., April 30, 2026 - L3Harris Technologies (NYSE: LHX) reports first quarter 2026 results.
Highlights
Orders of $7.8 billion; book-to-bill of 1....
30/04/2026
Behind the Broadcast: The Sound of Elite Golf Golf is gaining popularity; the 2025 Ryder Cup achieved record-breaking viewing figures in the UK specifically, wi...
30/04/2026
STA VENERA, MALTA, APRIL 29, 2026 CPI Media, a voluntary organization within the Missionary Society of St Paul (MSSP) and a leading media house dedicated to p...
30/04/2026
New software platform delivers comprehensive timing measurement across production workflows...
30/04/2026
Once again, the UK Pavilion in Hall 5 of BroadcastAsia 2026 will feature the latest and best in technology specifically developed and tailored for modern media ...
30/04/2026
Avid powers faster workflows and next-generation immersive audio with latest Pro...
30/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/04/2026
Scalable broadcast-grade production over public internet, replacing traditional OB workflows...
30/04/2026
Live demonstrations highlight LCEVC ecosystem momentum, AI-powered video pipelines, and expansion across broadcast, streaming, and social media.
DTV (TV 3.0) ...
30/04/2026
Student Spotlight: Matthew Leon The dual major shares his path from community college to Berklee, and how his heritage influences his work.
April 29, 2026
B...
30/04/2026
Berklee Artists to Perform at Major Global Music Festivals As part of the Berklee Popular Music Institute, students will perform at Lollapalooza, Governors Ba...
30/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/04/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...