Yahsat revenues up 8%
March 1, 2022
By Chris Forrester
Abu Dhabi-based Yahsat reported revenues of $407.6 million (€364.7m) for its full year’s trading (to December 31st 2021), up 7.9 per cent on the previous year.
The satellite operator also enjoyed its highest-ever Net income (profit attributable to shareholders) of $69.8 million. It contracted backlog has grown 35 per cent over the year to $2 billion.
Yahsat is initiating 2022 revenue guidance range of AED 1.52 billion (€0.37bn) to AED 1.62 billion, with approximately 70 per cent of 2022 projected revenues contracted and implying revenue growth of up to 8 per cent in 2022.
Ali Al Hashemi, Group CEO/Yahsat, commented: “2021 has been a landmark year for the Group. After a successful listing on ADX in July 2021, Yahsat continued to deliver on its promises, driven by a remarkable performance in 4Q21. Throughout the year, we maintained significant momentum across the business, growing our contracted future revenues by more than 35 per cent. We were able to leverage the resurgence in government projects supported by the economic recovery and establish a raft of new partnerships with key national stakeholders. Importantly, we also continued to diversify our customer base, in both government and commercial segments, including penetration into key industrial verticals. This momentum positions us well for success in 2022, with approximately 70 per cent of our projected revenues for the year already secured.”