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Yahsat sees 26% higher profits in Q1-22

Yahsat sees 26% higher profits in Q1-22
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Yahsat
YAHSAT
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Abu Dhabi - Mubasher: Al Yah Satellite Communications Company (Yahsat) posted a 26.4% year-on-year (YoY) increase in its net profits attributable to the shareholders to $20.09 million in the first quarter (Q1) of 2022 from $15.89 million.

The company generated revenues of $98.69 million in Q1-22, up 9.4% from $90.21 million in the year-ago period, according to the company's consolidated interim financials for the three-month ended 31 March 2022.

Meanwhile, the adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) rose by 6.8% to $58.11 million in the first three months (3M) of 2022, compared to $54.41 million in the corresponding period of 2021.

The earnings per share (EPS) stood at 0.82 US cents in Q1-22, against 0.65 cents in the same period of the earlier year.

It is noteworthy to mention that in 2021, the net profits attributable to the shareholders of Yahsat jumped to $69.76 million, compared to $68.90 million in 2020.