Abu Dhabi’s Yahsat posts $205m in half-year revenue

Abu Dhabi’s Yahsat posts $205m in half-year revenue

Image courtesy: WAM

Abu Dhabi satellite operator Yahsat Group has reported a 2 per cent decrease in half-year revenues to $205m (Dhs753m) from $206m a year ago.

The group delivered revenue growth in infrastructure, which provides communications capacity to the UAE government and data solutions, offering satellite-based broadband data solutions.

Yahsat said its managed solutions, providing complete value-added satellite communications solutions primarily to the government and related entities, maintained revenues versus an exceptionally strong prior year.

The company’s mobility solutions, the Thuraya business providing mobile satellite services using L-band spectrum, registered strong double-digit growth in the second quarter of the year, up 12 per cent compared to the prior year, driven by higher equipment sales.

“Yahsat continues to improve its business operations and profitability, and we remain focused on growing both our core government business and commercial segments, whilst controlling and optimising costs across the group,” said Ali Al Hashemi, group CEO of Yahsat.

The satellite operator’s net income rose by 5 per cent year-on-year (YoY) to $48m, generating an improved margin of 23 per cent from the previous year’s 22 per cent.

Yahsat said its earnings before interests, taxes, depreciation and amortisation (EBITDA) reached $125m in the first half of the year, up 3 per