Abu Dhabi – Mubasher: The net profits attributable to the equityholders of Al Yah Satellite Communications Company (Yahsat) amounted to $35.14 million in the first nine months (9M) of 2022.
The 9M-22 gains were lower than $43.29 million in 9M-21, according to the income statements.
Additionally, the revenues totalled $314.58 million during the January-September 2022 period, an 11% year-on-year (YoY) increase from $284.29 million.
The basic and diluted earnings per share (EPS) settled at $1.44 in 9M-22, versus $1.77 in 9M-21.
During the third quarter (Q3) of 2022, the ADX-listed company turned to net losses attributable to the shareholders worth $10.21 million, against earnings valued at $13.19 million in Q3-21.
Revenues enlarged to $109.01 million in Q3-22 from $94.11 million in the year-ago period.
Meanwhile, the basic and diluted loss per share stood at $0.42 in July-September 2022, compared to a profit per share of $0.54 during the corresponding period in the previous year.
Ali Al Hashemi, Group CEO of Yahsat, noted: “Through the procurement of the T4-NGS satellite, which we expect to launch in the first half of (H1) 2024 and enter operations in H1-25, we remain well positioned to meet the UAE government’s increasing demand for advanced satellite communication solutions.”
Al Hashemi added: “T4-NGS will also strongly support our commercial operations in mobility solutions, which achieved double-digit revenue growth during 9M-22.”
He mentioned: “The potential procurement of two new satellites, Al Yah 4 and Al Yah 5, remains under consideration for launch in 2026 which will secure continuity of service well beyond the lifetime of our existing fleet.”
In January-June 2022, Yahsat generated $45.36 million in net profit attributable to the owners, higher by 50% than $30.10 million during the same period in 2021.
Last October, the firm disbursed cash dividends worth (AED 196.60 million ($53.50 million) [IE1] for H1-22.
