Yahsat FY revenue up 6%, sees similar turnover in 2024

News Video United Arab Emirates 5 MRT 2024
Yahsat FY revenue up 6%, sees similar turnover in 2024
Satellite provider Yahsat said its revenue grew 6 percent to AED 1.7 billion in 2023, with growth across all four operating segments and exceeding its guidance range of AED 1.6-1.7 billion. EBITDA grew 3 percent to AED 977 million, and net income increased 68 percent to AED 405 million.

Categories:

Satellite

Companies:

Yahsat

Countries:

United Arab Emirates

Tags:

Sales figures, Financial figures, Satellite

Related Articles

MIDDLE EAST 14 MEI 2024

Yahsat revenue up 1% in Q1, underlying EBITDA improves 7%

Yahsat said its revenue grew 1 percent to AED 371 million in the three months to March compared with the same period in 2023. EBITDA grew 58 percent to AED 352 million in Q1, and net income almost doubled to AED 194 million. On a normalised basis, adjusting for one-off items, EBITDA grew 7 percent to AED 247 million, and net income fell 8 percent to AED 99 million, reflecting the introduction of UAE corporate tax in 2024.

AUSTRALIA 6 MEI 2024

Thuraya terminates Australian services after force majeure satellite event

Australian satellite services operator Pivotel has confirmed that the Thuraya 3 (T3) satellite has suffered a "sustained force majeure event", knocking out both voice and packet data services. This prevents Thuraya from providing services in Australia for the foreseeable future.

MIDDLE EAST 29 APR 2024

Bayanat and Yahsat shareholders approve merger to create Space42, regulatory clearance remains pending

Bayanat and Yahsat said their shareholders have approved the proposed merger of the two UAE-based entities to create Space42. The AI-powered space technology champion will be based in the Middle East North Africa (MENA) region with global reach. The merger is subject to further regulatory approvals in the UAE and internationally and both companies will continue to operate independently until the merger is effective.

GLOBAL 2 APR 2024

Yahsat appoints Somani as chief growth and strategy officer

Satellite provider Yahsat has announced the appointment of Amit Somani as chief growth and strategy officer. He rejoins Yahsat with over 27 years of experience in satellite communications and management consulting. His previous tenure with the company was from 2010 to 2022 and his roles at the time included VP of strategy and business development and most recently chief strategy officer from 2014 to 2022.

MIDDLE EAST 21 MRT 2024

Bayanat and Yahsat set vote date for merger to create Space42

Bayanat and Yahsat have each issued a circular calling for their General Assembly Meetings (GAMs) to be held simultaneously on 25 April, so that respective shareholders can vote on their proposed merger. The circular follows the announcement in December 2023 that the comanies' respective board of directors unanimously voted to recommend the merger of the two companies to shareholders, saying the proposed merger will create Space42, an AI-powered space technology champion in the MENA region.

GLOBAL 20 FEB 2024

Yahsat launches direct-2-device strategy at MWC

Satellite provider Yahsat has launched its Direct-2-Device (D2D) strategy, to enable smartphone users and IoT devices across the world to leverage the power of satellite connectivity. This is expected to usher in a new chapter in Yahsat's growth trajectory, the company said.  

UNITED ARAB EMIRATES 16 NOV 2023

Yahsat to provide satellite communication to UAV provider ADASI

SYahsat said it has been selected by ADASI, an entity of the EDGE Group and a provider of Unmanned Aerial Vehicles (UAVs), to equip its REACH-S platforms with satellite communications products. The partnership brings together Yahsat's satellite infrastructure and services with ADASI's autonomous systems, culminating in a multi-million US dollar deal. Eisa Al Shamsi, general manager of Yahsat Government Solutions (YGS), said it will equip ADASI's platform with modern global services and support the developme

UNITED ARAB EMIRATES 7 NOV 2023

Yahsat revenue rises 3% in first 9 months

Satellite provider Yahsat said that revenue grew by 3 percent year on year in the first nine months to September to AED 1.2 billion. Normalised EBITDA rose 3 percent to AED 713 million and it maintained a margin of 23 percent. Net income more than doubled while normalised net income was in line with Q3 a year earlier at AED 274 million.

UNITED ARAB EMIRATES 22 SEP 2023

Yahsat wins 17-year satellite deal from UAE government worth AED 19 bln

Satellite provider Yahsat has announced that its Yahsat Government Solutions arm has received a mandate from the UAE government worth AED 18.7 billion to provide satellite capacity and managed services for seventeen years. This mandate combines related operations, maintenance and technology management services of ground segment satellite systems and terminals currently provided under a separate contract. The award includes an advance payment from the Government of USD 1 billion to be received in 2024.

MIDDLE EAST 21 SEP 2023

Yahsat to pay interim cash dividends of AED 201 mln

Satellite provider Yahsat announced that it will pay an interim cash dividend of AED 201 million in total for the first half of 2023. To be eligible for the dividend, investors must purchase shares no later than 27 September or be shareholders of record as of 02 October. Interim dividends will subsequently be paid by 16 October.

Just In

13 APR 15:04

Mediakom members gain access to CryptoGuard CAS

13 APR 15:03

Ucom and Impact Hub Yerevan announce green innovation fellowship

13 APR 15:01

TTK reports Wi-Fi traffic up 78% at train stations in Q1

13 APR 15:00

Rostelecom to launch AI accelerator programme

Commentary

11 FEB 12:29

Odido shareholders face tricky exit after abandoned IPO

2 FEB 13:49

KPN results show little bother from the competition

2 JAN 13:21

Open Dutch Fiber's new management team takes up turnaround challenge

15 DEC 2025 13:56

Video market set for slower growth ahead

Background

12 APR 23:28

The week in telecoms: Samsung profits soar, Netflix targets kids and telcos build defence vertical

9 APR 15:58

Ziggo Group creation at 2026 low point sets stage for growth ahead

7 APR 11:48

Netherlands TV-video market revenues up just 0.5% in Q4

5 APR 23:40

The week in telecoms: Free goes all-in on roaming, AT&T tries FMC innovation and Starlink gets bigger

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.