Yahsat reports record Q1 2023 revenue to the tune of Dhs369m

Yahsat reports record Q1 2023 revenue to the tune of Dhs369m

Al Yah Satellite Communications (Yahsat), the UAE’s flagship satellite solutions provider, recently reported its for Q1 2023. said it continued to deliver year-on-year growth in revenue; and net income increased 2 per cent, 4 per cent and 35 per cent respectively during the quarter. On a normalised basis, EBITDA and net income surged by 8 per cent and 46 per cent respectively. First quarter revenues reached Dhs369m for the first time in Yahsat’s history, with the strong performance primarily driven by the managed solutions segment, which saw revenue increase significantly by 29 per cent year-on-year to Dhs72m. Infrastructure, the group’s largest business segment, continued to deliver stable and predictable returns, reporting Dhs220m in revenue for the period, 1 per cent higher than the prior year. The company reported a revenue of Dhs369m, up 2 per cent year-on-year, driven by strong growth of 29 per cent in managed solutions, and further growth in the infrastructure and data solutions businesses. Normalised (EBITDA) of Dhs231m were up 8 per cent year-on-year, delivering a margin of 63 per cent. Normalised net income of Dhs108m showed a rise of 46 per cent year-on-year, generating a strong margin of 29 per cent. Contracted future revenue touched