Al Yah Satellite Communications, better known as Yahsat, is well positioned for further revenue growth, underpinned by commercial deals secured in the third quarter of this year, the company's chief executive said.
Revenue for the nine-month period to the end of September stood at $284 million, which was broadly in line with the same period in 2020, the company said in a statement on Sunday to the Abu Dhabi Securities Exchange, where its shares are traded.
“We continue to see a strong performance in our revenue, coupled with high levels of profitability and cash flow,” Ali Al Hashemi said.
“We are laying the foundations for future growth, by signing new deals across our commercial and government businesses, which add to our contracted future revenue and underpin our commitment to a progressive dividend.”
The company, a unit of Mubadala Investment Company that raised about $731m through its public offering in July, has contracted future revenue of more than Dh7.3bn, boosted by “significant” deals secured in the third quarter of this year.
The potential expansion of Yahsat’s existing satellite fleet presents it with additional growth opportunities across the business, which bodes well for its long-term outlook, Mr Al Hashemi said.
The company, which is among the top-10 satellite operators in the world by revenue, expects income from its global data services to significantly rise once it adds new technology and launches another satellite into orbit in 2023, Mr Al Hashemi, told The National in September.
“We remain on track to achieve all our strategic objectives, financially and operationally, supported by the rapid post-pandemic recovery of our business segments globally,” he said on Sunday.
“We will continue forging partnerships with the world’s most innovative companies to enhance our competitiveness and continue to create value for our customers, shareholders and the UAE.”
Yahsat said it maintained an adjusted earnings before interest, taxes, depreciation and amortisation (ebitda) margin of more than 60 per cent during the first nine months of the year, with adjusted ebitda reaching $171m at the end of the reporting period.
Founded in 2007, the satellite operator offers multi-mission satellite services in more than 150 countries across Europe, the Middle East, Africa, South America, Asia and Australasia.
It has a current fleet of five satellites that cover more than 80 per cent of the world’s population.
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EA Sports FC 26
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It's up to you to go green
Nils El Accad, chief executive and owner of Organic Foods and Café, says going green is about “lifestyle and attitude” rather than a “money change”; people need to plan ahead to fill water bottles in advance and take their own bags to the supermarket, he says.
“People always want someone else to do the work; it doesn’t work like that,” he adds. “The first step: you have to consciously make that decision and change.”
When he gets a takeaway, says Mr El Accad, he takes his own glass jars instead of accepting disposable aluminium containers, paper napkins and plastic tubs, cutlery and bags from restaurants.
He also plants his own crops and herbs at home and at the Sheikh Zayed store, from basil and rosemary to beans, squashes and papayas. “If you’re going to water anything, better it be tomatoes and cucumbers, something edible, than grass,” he says.
“All this throwaway plastic - cups, bottles, forks - has to go first,” says Mr El Accad, who has banned all disposable straws, whether plastic or even paper, from the café chain.
One of the latest changes he has implemented at his stores is to offer refills of liquid laundry detergent, to save plastic. The two brands Organic Foods stocks, Organic Larder and Sonnett, are both “triple-certified - you could eat the product”.
The Organic Larder detergent will soon be delivered in 200-litre metal oil drums before being decanted into 20-litre containers in-store.
Customers can refill their bottles at least 30 times before they start to degrade, he says. Organic Larder costs Dh35.75 for one litre and Dh62 for 2.75 litres and refills will cost 15 to 20 per cent less, Mr El Accad says.
But while there are savings to be had, going green tends to come with upfront costs and extra work and planning. Are we ready to refill bottles rather than throw them away? “You have to change,” says Mr El Accad. “I can only make it available.”
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Red Joan
Director: Trevor Nunn
Starring: Judi Dench, Sophie Cookson, Tereza Srbova
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F1 line ups in 2018
Mercedes-GP Lewis Hamilton and Valtteri Bottas; Ferrari Sebastian Vettel and Kimi Raikkonen; Red Bull Daniel Ricciardo and Max Verstappen; Force India Esteban Ocon and Sergio Perez; Renault Nico Hülkenberg and Carlos Sainz Jr; Williams Lance Stroll and Felipe Massa / Robert Kubica / Paul di Resta; McLaren Fernando Alonso and Stoffel Vandoorne; Toro Rosso TBA; Haas F1 Romain Grosjean and Kevin Magnussen; Sauber TBA
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Tips for SMEs to cope
- Adapt your business model. Make changes that are future-proof to the new normal
- Make sure you have an online presence
- Open communication with suppliers, especially if they are international. Look for local suppliers to avoid delivery delays
- Open communication with customers to see how they are coping and be flexible about extending terms, etc
Courtesy: Craig Moore, founder and CEO of Beehive, which provides term finance and working capital finance to SMEs. Only SMEs that have been trading for two years are eligible for funding from Beehive.
