Abu Dhabi, UAE — Al Yah Satellite Communications Company (Yahsat) on Tuesday said its revenue for the first half of the year was stable at AED753 million (US$205 million) whilst EBITDA and net income increased, on a normalized basis, by 3 percent versus the prior year to AED460 million (US$125 million) and 5 percent to AED175 million (US$48 million), respectively.
Yahsat said it delivered revenue growth in infrastructure, the Group’s largest segment providing communications capacity to the UAE government, and Data Solutions, offering satellite-based broadband data solutions.
Managed Solutions, providing complete value-added satellite communications solutions primarily to the UAE government and related entities, maintained revenues versus an exceptionally strong prior year, the company said.
Mobility Solutions, the Thuraya business providing mobile satellite services using L-band spectrum, recorded 12 percent growth in the second quarter, driven by higher equipment sales, a trend that is expected to continue into the third quarter and help achieve revenue growth for that segment by the end of the year.
Ali Al Hashemi, Group Chief Executive Officer of Yahsat, said in addition to completing the Thuraya-4 NGS satellite procurement program, which remains on track to be launched in the first half of 2024, the company has signed an Authorisation-to-Proceed (ATP) with Airbus, a long-time partner of Yahsat, to commence initial activities relating to the procurement of the Al Yah 4 and Al Yah 5 satellites.
