[ad_1]
Musabbeh Al Kaabi, Chairman of Yahsat, said: “Against the backdrop of challenging global economic headwinds, we are delighted that the first half of the year recorded a record high revenue, while adjusted EBITDA and net income increased significantly.”
Shareholders are likely to see a higher dividend of at least 2% – AED16.12 per share – totalling AED393 million. This will be paid between October and May.
Yahsat’s five satellites cover more than 80% of the world’s population, enabling broadband, broadcast, backhaul and mobility solutions. The company has raised its forecast for full-year 2022 revenue to at least AED1.54 billion, with the ceiling unchanged at AED1.61 billion. “Approximately 90% of the remaining projected revenue for fiscal 2022 has been secured,” a statement said.
Yahsat satellite service is available in over 150 countries.
“We remain on track to put our next-generation satellite Thuraya 4-NGS into commercial service in the second half of 2024, while two new satellites – Al Yah 4 and Al Yah 5 – are being considered for launch in 2026,” said Yahsat Group Chief Executive Officer Ali Al Hashemi said. “We remain confident in our short- and long-term prospects and have raised the lower end of our fiscal 2022 revenue guidance accordingly, while reaffirming our commitment to paying a progressive dividend.”
Yahsat’s satellite infrastructure services accounted for around 55% of the group’s revenue in the 2-22 quarters, mainly from the 15-year long-term “capacity services agreement” with the UAE government. Total revenue was broadly stable at AED 218 million. During the period, its hosted and mobile solutions accounted for 22% and 17% of revenue, respectively.
[ad_2]
Source link