UAE Business: Yahsat posts $315m revenue and EBITDA growth in 9 months – Gulf Digital News

UAE Business: Yahsat posts $315m revenue and EBITDA growth in 9 months – Gulf Digital News

Al Yah Satellite Communications Company (Yahsat), the UAE’s flagship satellite provider, has posted a normalised net income of AED278 million ($76 million) for the first nine months, up 39% year-on-year, achieving a strong margin of 24%.

The company posted a revenue of AED1.2 billion ($315 million), up 11% year-on-year, underpinned by double-digit growth in Managed Solutions and Mobility Solutions. The firm’s adjusted EBITDA of AED694 million is up 10% year-on-year, delivering a superior margin of over 60%.

Yahsat’s contracted future revenue of AED7.6 billion is equivalent to more than 5 times annual revenue for the full year 2021. The company maintains a robust financial position with negative net debt and high visibility on future cash flows underpinning its ability to invest in growth and sustain an attractive dividend policy.

Full year dividend to grow 2pc

The firm is on track to grow full year 2022 dividend by at least 2% to AED 6.12 fils per share or AED393 million, 50% of which was recently paid as an interim dividend

The firm’s third quarter revenues and EBITDA soared by 16% and 21% respectively year-on-year, underpinned by a stellar performance in its Managed Solutions business.

This business, together with the stable, long-term contracted Infrastructure business, serves the requirements