February 23, 2024


One Posting Everyday

Abu Dhabi satellite tv for pc agency Yahsat will get 5% enhance in H1-2023 web revenue to Dh175m

2 min read

All of which might have prompted the choice to extend the 2023 dividend by at the very least 2 per cent, to 16.46 fils per share – or Dh402 million in all. Primarily based on the final closing share worth, this ‘implies an annualised dividend yield of over 6 per cent, amongst the best supplied by UAE listed shares’, stated Yahsat. (The corporate’s inventory is at Dh2.61.)

“The satellite tv for pc business continues to witness substantial investments and the event of latest enterprise fashions,” stated Ali Al Hashemi, Group CEO. “Collectively, these forces are driving business consolidation and the mandatory emergence of bigger and stronger gamers.

“Yahsat stays in a powerful place to make the most of these developments, underpinned by our distinctive backlog of future revenues and our traditionally robust and sturdy balance-sheet.”

Yahsat operates a number of divisions, with the largest being that offering communications capability to the UAE authorities. There’s additionally its information options providers, which provide satellite-based broadband information options.

The place Yahsat’s financials make an equally decisive level is thru its ‘detrimental’ web debt standing, which stands at Dh454 million plus. (A detrimental web debt is when a firm retains additional cash/money equivalents than its monetary obligations.)

Complete out there liquidity as of finish June was Dh2.3 billion, and the ‘long-term visibility of future cashflows helps Yahsat’s future funding in natural progress and opportunistic acquisitions’.

All ‘with out impacting its engaging progressive dividend coverage’.

Based on the CEO, “Along with finishing the Thuraya-4 NGS satellite tv for pc procurement programme – on observe to be launched within the first-half of 2024 – we’ve signed an Authorization-to-Proceed (ATP) with Airbus, a longtime accomplice of Yahsat, to begin preliminary actions referring to the procurement of the Al Yah 4 and Al Yah 5 satellites.

“In parallel, we’re in superior negotiations with the UAE authorities to safe a long-term contract that may considerably improve and lengthen our backlog of contracted revenues past 2040.”

Copyright © All rights reserved. | Newsphere by AF themes.