Yahsat expects to record strong revenue growth as it presses ahead with new satellite launch

Al Yah Satellite Communications, or Yahsat, expects to record strong growth in revenue this year on the back of contracted future sales as the Abu Dhabi company prepares to launch its next satellite in 2023.

The company, which listed on the Abu Dhabi Securities Exchange last year, anticipates revenue will reach between Dh1.52 billion ($415 million) and Dh1.62bn in 2022. That would mean an increase of between 2.3 per cent and 8.4 per cent from 2021.

Approximately 70 per cent of the company’s 2022 projected revenue is contracted, with future sales “more than five times our annual revenue”, he said.

That figure does not include a contract worth Dh909.5m, which Yahsat signed last month to provide managed services to the UAE government for its satellite communications capabilities.

One of the major projects that Yahsat is working on is the Thuraya 4 Next Generation satellite [T4-NGS], which is scheduled for launch next year and to commence commercial services in the second half of 2024.

The satellite is aimed at supporting both the long-term managed capacity services agreement with the UAE government and the next generation of mobility solutions services with a focus on the mobile data, maritime and IoT segments, according to the company. The National