Abu Dhabi, UAE – Al Yah Satellite Communications Company (Yahsat) said Tuesday that its revenue and EBITDA for the full year 2022 increased 6 percent and 7 percent respectively year-on-year.
The company recorded revenue of AED1.6 billion ($433 million) for 2022, up 6 percent year-on-year, driven by growth of 41 percent in Managed Solutions and stable performance across the infrastructure and mobility solutions businesses, Yahsat said.
Other highlights include an adjusted EBITDA of AED946 million ($258 million), up 7 percent year-on-year, delivering a margin of 60 percent; normalized net income of AED390 million ($106 million), up 31 percent year-on-year, generating a margin of 25 percent; and contracted future revenue of AED7.3 billion ($2 billion), equivalent to 4.6 times annual revenue for the year 2022.
The company also reported proposed full year dividend of AED16.12 fils ($4.39 cents) per share or AED393 million ($107 million), 2 percent higher than the prior year, of which 50 percent was paid as an interim dividend in October 2022 and the remaining amount is expected to be paid as a final dividend in May 2023 subject to shareholder approval at the upcoming annual general meeting.
Musabbeh Al Kaabi, Chairman of Yahsat, commented, “In a year of continued transformational change for the satellite industry and against a backdrop of global economic headwinds and tighter financial conditions, the company continues to deliver top-line revenue growth, a superior margin and healthy cash flows, positioning it to sustain and grow its dividend and invest in organic and inorganic growth opportunities.”