Abu Dhabi - Mubasher: The net profits attributable to the shareholders of Al Yah Satellite Communications Company (Yahsat) increased to $69.76 million in 2021, compared to $68.90 million in 2020, according to the company's consolidated financials for the period ended 31 December 2021.

The company generated revenues of $407.56 million in 2021, up from $407.50 million in the earlier year.

Yahsat's adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) declined to $240.48 million last year from $246.93 million in 2020.

The basic and diluted earnings per share (EPS) settled at $0.029 in 2021, versus $0.028 in 2020.

Meanwhile, the company's board has recommended a cash dividend distribution of 7.90 fils per share for the second half (H2) of 2021.

Commenting on the company's performance, the Chairman of Yahsat, Musabbeh Al Kaabi, said: "In 2021, Yahsat demonstrated sustained strength and resilience admidst continued economic disruption, laying strong foundations for growth in 2022 and beyond, as it continues to provide critical connectivity to government and commercial customers in the UAE and beyond."

Meanwhile, the Group CEO of Yahsat, Ali Al Hashemi, commented: "Throughout the year, we maintained significant momentum across the business, growing our contracted future revenues by more than 35%."

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