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Abu Dhabi's Al Yah Satellite Communications Company (Yahsat) reported a strong year-to-date performance for the first half of the year, with net income rising 50.7% year-on-year (YoY) to AED167 million ($45 million).
The satellite firm also recorded its highest-ever first half revenue, which reached AED755 million, up 8.1% YoY, underpinned by double-digit growth in managed and mobility solutions, according to a statement on Tuesday.
Adjusted EBITDA stood at AED448 million, registering a 5.3% YoY increase and delivering a margin of 59.3%.
With the positive results, Yahsat said it is on track to increase its full-year 2022 dividend by at least 2% to 16.12 fils per share or AED393 million, which will be split into two installments payable around October 2022 and May 2023.
"In light of our strong year-to-date performance... we are reiterating our commitment to deliver attractive shareholder returns," said Musabeeh Al Kaabi, Chairman of Yahsat.
Q2 2022 results
For the second quarter of the year, net profit attributable to shareholders reached AED93 million, up by 77.9% compared to a year earlier.
Revenue rose 6.9% to AED392 million, while adjusted EBITDA went up 3.9% to AED235 million.
(Reporting by Cleofe Maceda; editing by Brinda Darasha)
