Abu Dhabi - Mubasher: Al Yah Satellite Communications Company (Yahsat) has registered net profits attributable to the shareholders of $45.36 million during the first half (H1) of 2022, higher by around 50% than $30.10 million in H1-21.

Revenues stood at $205.56 million in the first six months (6M) of 2022, an annual increase of nearly 8% from $190.18 million, according to the income statements.

The basic and diluted earnings per share (EPS) rose to $1.86 in H1-22 from $1.23 in H1-21.

During the second quarter (Q2) of 2022, the company’s net profits attributable to the shareholders surged to $25.26 million from $14.20 million in Q2-21.

The revenues jumped to $106.87 million in Q2-22, compared to $99.96 million in the year-ago period. The basic and diluted EPS settled at $1.04 in April-June 2022, versus $0.58 in Q2-21.

Ali Al Hashemi, Group CEO of Yahsat, said: “Our contracted future revenue exceeds AED 7.70 billion, equivalent to 5.2 times [fical year] FY2021 annual revenue.”

He added: “Looking ahead, we remain on track to bring into commercial service our Next Generation Satellite, Thuraya 4-NGS, in H2-24 whilst two new satellites, Al Yah 4 and Al Yah 5, are under consideration for launch in 2026. “

In January-March 2022, Yahsat recorded net profits attributable to the shareholders of $20.09 million, higher by 26.40% than $15.89 million in Q1-21.