Satellite Provider Yahsat Soars to Record-Breaking Financials in 2023

Satellite Provider Yahsat Soars to Record-Breaking Financials in 2023

Al Yah Satellite Communications Company PJSC (Yahsat), the United Arab Emirates’ leading provider of satellite solutions, announced its strongest financial performance ever for the full year ended December 31, 2023. The company’s revenue climbed 6% year-on-year to a record AED 1.7 billion (USD 457 million), exceeding its previous guidance and surpassing analyst projections. This positive financial picture was reflected across key metrics, including Earnings Before Interest, Taxes, […]

via Satellite Provider Yahsat Soars to Record-Breaking Financials in 2023

Al Yah Satellite Communications Company PJSC (Yahsat), the United Arab Emirates’ leading provider of satellite solutions, announced its strongest financial performance ever for the full year ended December 31, 2023. The company’s revenue climbed 6% year-on-year to a record AED 1.7 billion (USD 457 million), exceeding its previous guidance and surpassing analyst projections. This positive financial picture was reflected across key metrics, including Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) and net income, which grew 3% and 68% respectively, reaching AED 977 million (USD 266 million) and AED 405 million (USD 110 million).

Yahsat’s success in 2023 was attributed to consistent growth across all four of its operating segments: Government Services, Broadcast & Media, Mobility Solutions, and Data Solutions. The Data Solutions segment, offering