Satellite Technology.
Critical Communications.
Human Progress.
Al Yah Satellite Communications Company PJSC (Yahsat) is a public company listed on the Abu Dhabi Securities Exchange. A subsidiary of Mubadala Investment Company, Yahsat offers multi-purpose satellite services to more than 150 countries across Europe, the Middle East, Africa, South America, Asia and Australasia.
Based in Abu Dhabi, UAE, and a subsidiary of Mubadala Investment Company, Yahsat offers multi-mission satellite services through our integrated business units – Yahsat Government Solutions, Thuraya, YahClick (powered by Hughes), YahLink and Yahlive.
Yahsat provides a wide range of fixed and mobile satellite solutions for land, maritime and aero platforms to governments, enterprises, communities and individuals in over 150 countries across Europe, the Middle East, Africa, South America, Asia and Australasia. In 2020, Yahsat commenced construction of Thuraya-4 NGS, the next generation telecommunications system, which is due to enter service in 2024.
1 12% of 2021 consolidated revenues when incorporating Yahsat’s 20% share of Hughes do Brasil (HdB).
Our Business Lines
Mobile Satellite Services operator for L-band based voice and data solutions
- Infrastructure
- Managed Solutions
- Data Solutions
- Mobility Solutions
- Broadcast Solutions
These go to market under the following brands:
Yahsat Government Solutions
Managed end-to-end secure communication solutions and government capacity
Thuraya
Mobile Satellite Services for reliable direct-to-device voice and data solutions
YahClick
High-speed satellite broadband for consumer, enterprise and government users
YahLink
IP trunking solutions, corporate networking and backhauling capacity
Yahlive
Premium services for broadcasters and a select choice of TV channels
Yahsat’s fleet of five geostationary satellites reaches more than 80% of the world’s population, enabling critical communications including broadband, video broadcasting, backhauling, and mobile voice and data solutions.
A highly attractive investment proposition with strong cash flow, a progressive dividend policy and significant growth potential.
- Global connectivity enabler providing critical solutions
- Significant growth potential
- High-quality, well-invested asset base
- Industry pioneer in fast-growing emerging markets
- The UAE Government’s preferred partner
- Highly attractive financial profile
- Proven senior leadership and supportive shareholder
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STATEMENTS
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HIGHLIGHTS
US$ 407.6m
+1.23%
US$ 69.8m
+1.23%
US$ 1,862.2m
+1.23%
US$ 841.4m
+1.23%
US$ 240.5m
+1.23%
Strong Foundation for Future
Growth and Diversification
- Yahsat established
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- UAE Government signed as Yahsat’s anchor customer
- Yahsat’s first and second satellites Al Yah 1 and Al Yah 2 launched
- YahClick launched for broadband across Africa, the Middle East and Asia
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- Established JV with Hughes (HdB) for Brazil
BUSINESS MODEL
Finance
Sizeable contracted future revenues providing visibility and security on top line revenue and dividends
Lean cost structure with strong cost discipline across business
Stringent capital allocation with robust governance
High cash conversion ratio
Robust capital structure – strong balance sheet, low net debt and low leverage
spectrum
~200 active ITU filings to support future missions and strategy
Good access to markets across footprint
Unique spectrum rights including valuable L-band
human capital
Experienced, long-serving team with proven track record of growth
Internationally diverse and highly-specialised workforce
Long track record of developing and attracting local talent
UAE-based team with security clearance necessary to support government needs
technology & assets
Well-invested infrastructure assets across space and ground
Fleet of five satellites spanning five continents, with one more under construction
Modern infrastructure spanning both FSS and MSS
business & relationships
UAE’s flagship satellite operator
Recognised industry leader, nationally and internationally
Strong distribution presence and partnerships
Strong relationship as a trusted partner with the UAE Government
Deep partnerships with global industry leaders
To be the global partner of choice for reliable, innovative and affordable satellite solutions.
To deliver exceptional value to our customers, shareholders and partners by focusing on the following:
Quality
Being an industry centre of excellence for our customers and partners by offering innovative, reliable and affordable satellite solutions.
human capital
Empowering our employees to succeed and become proud role models in their communities.
growth
Anticipating and fulfilling the satellite communications needs of governments, enterprises, communities and individuals across our footprint.
A leading fixed and mobile satellite services operator offering integrated satellite communications solutions to over 150 countries.
Enabling critical communications including broadband, broadcasting, backhauling, and mobile voice and data solutions.
Wide range of C, Ku, Ka, and L-band solutions for land, maritime and aero platforms to governments, enterprises, communities and individuals.
A fleet of 5 satellites reaching more than two-thirds of the world’s population, with a sixth under construction.
Al Yah 1
Al Yah 2
Al Yah 3
Thuraya-2
Thuraya-3
Thuraya-4 NGS
(under construction)
Our values underpin everything we do:
Respect
Reliability
Agility
Customer Focus
Creativity
OUR CUSTOMERS
(governments, enterprises, communities and individuals)
Secured, reliable and multi-purpose connectivity solutions
Affordable satellite solutions to connect the unconnected across more than 150 countries
Strategic and sovereign advanced satellite solutions for the UAE Government
Enriched and value-added solutions
Countries covered
150+
Our Employees
Exciting technical and business work environment to develop and maximise potential
Progression, learning, diversity and inclusion
Strong leadership, experience and opportunity for growth
Number of nationalities
42
Our Shareholders
Attractive and progressive dividends
High-growth and value creation opportunities
Solid investment opportunity reinforced with long-term AA+ customer contracts
Adjusted EBITDA
US$ 240.5m
Our Nation
Supporting the development of UAE Nationals and a powerful UAE space sector
Contributing to the Abu Dhabi 2030 Vision
Enhancing the national economy by partnering and creating new opportunities
Emiratisation
52%
Emiratisation excluding third party contractors.
Our Strengths
Sustainable Value Creation
For Our Stakeholders
STRATEGY
- Solidify our core business to deliver more missions, more solutions and more value
- Enrich and expand our portfolio of government products, solutions and services
- Diversify our government business to more entities in the UAE, including civil, and penetrate more strategic international markets
- Differentiate through unique products and solutions, deeper distribution relationships and higher value add
- Accelerate commercial business across Yahsat Government Services, Thuraya and YahClick
- Expand market share in growing Fixed Satellite Services (FSS) and Mobile Satellite Services (MSS) markets and regions, by capitalising on unique relationships, technologies and business models
- Capitalise on the increasingly critical role played by satellite in the global connectivity and applications ecosystem, including IoT
- Drive strategic partnerships to invest and diversify into adjacent service areas to better serve customers
- Create long-term value collaboration with other key players in the broad UAE space and technology ecosystem
- Support UAE 2030 agenda by spurring new in-country development in space, technology and industrialisation
- Entered into 15-year agreement with the UAE Government for services on upcoming satellite Thuraya-4 NGS
- Entered into strategic partnerships to deploy mission-ready defence vehicular systems
- Appointment by the UAE Government to assess fleet expansion for future defence capacity needs
Managed Solutions
- Accelerated commercial business lines and signed new customers for both FSS and MSS solutions
- Signed MoU with Mubadala Petroleum to explore advanced satellite technologies
Mobility Solutions
- Secured long-term distribution agreement worth US$ 86 million with an existing global service partner
- Evolved GTM with eight new distribution agreements and business models, including establishment
- of new partnerships to address multiple verticals including government, maritime and aero
- Launched new products (e.g. maritime tracking and monitoring) and strengthened foundation for future strategic growth portfolio (maritime, IoT, government, enterprise)
Data Solutions
- More than doubled direct-to-market subscriber base in South Africa, while the overall YahClick subscriber base grew by 20% to over 18,000
- Signed pan-African agreement with iSat Africa for connectivity services
- Signed multiple enterprise and wholesale deals, including for cellular backhaul, dramatically increasing the Data Solutions contracted future revenues to over US$ 22 million by 31 December 2021
- Broadened participation in value chain with formation of JV to develop and manufacture satellite communications technology
- Thuraya-4 NGS progressing and on track to commence commercial operations in 2024
- Selected Cobham as broadband platform provider on Thuraya-4 NGS to bring next generation and best-in-class product portfolio to both government and commercial customers
- Laid foundations for new strategic platforms to serve UAE and international governments and enterprises, including Group 42 for Situational Awareness, including remote sensing and AI-enabled geospatial analytics
- Khalifa University’s second CubeSat ‘DhabiSat’ launched to International Space Station (ISS)
- Solidified position as a satellite centre of excellence through talent attraction and retention as well as development of national expertise
- Sustain core business by securing new long-term FSS capacity agreement with the UAE Government (on two potential new satellites, Al Yah 4 and Al Yah 5)
- Secure multi-year O&M extension with extended scope with the UAE Government
- Capture more value by deepening participation both up and down the value chain
- Become sole provider for all UAE satcom by expanding government offerings, and expand commercial base and reach to other regional governments
Managed Solutions
- Complete transition from previous project delivery function into higher value-add system integrator
- Continue expansion into adjacent government entities and international government customers
Mobility Solutions
- Enhance products and services portfolio, and expand solution and applications offering
- Accelerate strategic M2M/IoT, regional maritime and government business
- Push into major strategic markets within coverage area and continue seeking partnerships to drive and unlock value
Data Solutions
- Accelerate uptake in all segments and regions through targeted and customised GTM models, from D2M to VNO/Wholesale
- Push for selective geographic expansion, leveraging interim third party capacity in case current fleet does not have coverage
- Drive new segments and increase market share of cellular backhaul solutions for mobile network operators
- Seek new investment opportunities to build further across all platforms
- Embrace complementarity of newspace on Yahsat business to capture value and broaden scope
- Continue current trajectory of organic growth combined with strategic UAE partnerships, and consider potential horizontal or vertical M&A to build scale if value proposition is strong
- Deliver first phase of solutions from Star Technologies JV to UAE Government and expand scope to drive more products to more customers, including international
- Strengthen collaboration with G42 to create a UAE remote sensing industrial champion
- Continue focussing on national talent development and further nurture solid UAE G2G relationships
Strategic Objectives
Highlights
- Entered into 15-year agreement with the UAE Government for services on upcoming satellite Thuraya-4 NGS
- Entered into strategic partnerships to deploy mission-ready defence vehicular systems
- Appointment by the UAE Government to assess fleet expansion for future defence capacity needs
Managed Solutions
- Accelerated commercial business lines and signed new customers for both FSS and MSS solutions
- Signed MoU with Mubadala Petroleum to explore advanced satellite technologies
Mobility Solutions
- Secured long-term distribution agreement worth US$ 86 million with an existing global service partner
- Evolved GTM with eight new distribution agreements and business models, including establishment
- of new partnerships to address multiple verticals including government, maritime and aero
- Launched new products (e.g. maritime tracking and monitoring) and strengthened foundation for future strategic growth portfolio (maritime, IoT, government, enterprise)
Data Solutions
- More than doubled direct-to-market subscriber base in South Africa, while the overall YahClick subscriber base grew by 20% to over 18,000
- Signed pan-African agreement with iSat Africa for connectivity services
- Signed multiple enterprise and wholesale deals, including for cellular backhaul, dramatically increasing the Data Solutions contracted future revenues to over US$ 22 million by 31 December 2021
- Broadened participation in value chain with formation of JV to develop and manufacture satellite communications technology
- Thuraya-4 NGS progressing and on track to commence commercial operations in 2024
- Selected Cobham as broadband platform provider on Thuraya-4 NGS to bring next generation and best-in-class product portfolio to both government and commercial customers
- Laid foundations for new strategic platforms to serve UAE and international governments and enterprises, including Group 42 for Situational Awareness, including remote sensing and AI-enabled geospatial analytics
- Khalifa University’s second CubeSat ‘DhabiSat’ launched to International Space Station (ISS)
- Solidified position as a satellite centre of excellence through talent attraction and retention as well as development of national expertise
Future Focus
- Sustain core business by securing new long-term FSS capacity agreement with the UAE Government (on two potential new satellites, Al Yah 4 and Al Yah 5)
- Secure multi-year O&M extension with extended scope with the UAE Government
- Capture more value by deepening participation both up and down the value chain
- Become sole provider for all UAE satcom by expanding government offerings, and expand commercial base and reach to other regional governments
Managed Solutions
- Complete transition from previous project delivery function into higher value-add system integrator
- Continue expansion into adjacent government entities and international government customers
Mobility Solutions
- Enhance products and services portfolio, and expand solution and applications offering
- Accelerate strategic M2M/IoT, regional maritime and government business
- Push into major strategic markets within coverage area and continue seeking partnerships to drive and unlock value
Data Solutions
- Accelerate uptake in all segments and regions through targeted and customised GTM models, from D2M to VNO/Wholesale
- Push for selective geographic expansion, leveraging interim third party capacity in case current fleet does not have coverage
- Drive new segments and increase market share of cellular backhaul solutions for mobile network operators
- Seek new investment opportunities to build further across all platforms
- Embrace complementarity of newspace on Yahsat business to capture value and broaden scope
- Continue current trajectory of organic growth combined with strategic UAE partnerships, and consider potential horizontal or vertical M&A to build scale if value proposition is strong
- Deliver first phase of solutions from Star Technologies JV to UAE Government and expand scope to drive more products to more customers, including international
- Strengthen collaboration with G42 to create a UAE remote sensing industrial champion
- Continue focussing on national talent development and further nurture solid UAE G2G relationships
Key performance indicators
US$
407.6
m
+1.23%
US$
69.8
m
+1.23%
US$
240.5
m
+1.23%
US$
18,300
m
+1.23%
US$
179.5
m
+1.23%
US$
231,000
m
+1.23%
+US$ 2.0b
+1.23%
BUSINESS REVIEW
- Secured end-to-end managed solutions and government capacity
- Bespoke turnkey satcom platforms
- Defence, government and mission critical applications for land, sea and air
- Coverage in 150+ countries, reaching over 2/3 of world’s population across EMEA, Asia and Australasia
- Serving a variety of sectors including government, consumer, enterprise and NGO, on land, at sea and in the air
- 230,000+ subscribers and 390+ roaming agreements globally
- Addressing the high-growth direct-to-user mobile satellite solutions sector
- Broad portfolio of solutions with next generation platforms being rolled out to accelerate growth, including in attractive IoT & maritime sectors
- Leading satellite internet broadband provider across Brazil, Africa, Middle East and South West Asiaenabled through its Ka-band high-throughput satellites
- Covering over 1 billion people in high-growth, emerging markets throughout our footprint
- Affordable broadband solutions to consumers, enterprises, Mobile Network Operators and governments
- Flexible go-to-market model through a comprehensive network of in-market service providers
- Provision of television broadcast capacity and services through an equity partnership between Yahsat and SES
- 180+ television and 25 radio channels carried on Yahlive capacity
- 20+ markets the Middle East, North Africa, South West Asia and Europe
- 110+ million viewers
- Secured end-to-end managed solutions and government capacity
- Bespoke turnkey satcom platforms
- Defence, government and mission critical applications for land, sea and air
- Coverage in 150+ countries, reaching over 2/3 of world’s population across EMEA, Asia and Australasia
- Serving a variety of sectors including government, consumer, enterprise and NGO, on land, at sea and in the air
- 230,000+ subscribers and 390+ roaming agreements globally
- Addressing the high-growth direct-to-user mobile satellite solutions sector
- Broad portfolio of solutions with next generation platforms being rolled out to accelerate growth, including in attractive IoT & maritime sectors
- Leading satellite internet broadband provider across Brazil, Africa, Middle East and South West Asiaenabled through its Ka-band high-throughput satellites
- Covering over 1 billion people in high-growth, emerging markets throughout our footprint
- Affordable broadband solutions to consumers, enterprises, Mobile Network Operators and governments
- Flexible go-to-market model through a comprehensive network of in-market service providers
- Provision of television broadcast capacity and services through an equity partnership between Yahsat and SES
- 180+ television and 25 radio channels carried on Yahlive capacity
- 20+ markets the Middle East, North Africa, South West Asia and Europe
- 110+ million viewers
CASE STUDIES
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ESG
To ensure we are in the best possible position to effectively continue and improve our contributions towards promoting sustainable development, we set out to meet three key objectives as a Company in 2021 and 2022. The first objective was to identify and understand the sustainability-related areas of most importance to the Group as a whole. The second was to develop an appropriate approach to report on and manage these areas. The third objective was to develop a sustainability strategy to improve the Group’s overall ESG/sustainability performance.
We are committed to operating with integrity and maintaining the highest professional and ethical standards in every aspect of our business. Through our established and evolving governance structures, we aim to ensure all of our operational activities are performing as intended, including complying with local and international regulations, improving business performance and ensuring stakeholder interests continue to be met.
Through our technological excellence and customer-centric approach, we strive to provide innovative, reliable and affordable satellite solutions to Yahsat’s customers. Such solutions enable communities around the world to connect with each other, and provide Yahsat with multiple opportunities to create positive community impacts.
We know that our achievements at Yahsat are fundamentally built upon the cumulative abilities and attitudes of our workforce. We are committed to empowering our employees to succeed and to become role models in their communities. A key objective is to attract and retain highly-talented employees while simultaneously promoting Emiratisation. By building a diverse, egalitarian and safe working environment, we strive to maximise employee wellbeing.
We are committed to reducing adverse environmental impacts stemming from Yahsat’s operational activities. Through reductions in our energy consumption and the exploration of incorporating renewable energy sources where possible, we are working hard to reduce our total carbon emissions. We are also seeking to reduce our resource consumption and increase material resource lifespans wherever possible.
Business partnerships continue to be a crucial component of Yahsat’s success. By prudently forming mutually beneficial partnerships, we strive to ensure all stakeholder concerns and associated risks are sufficiently addressed and monitored, as well as contributing towards national space ambitions.
We are committed to operating with integrity and maintaining the highest professional and ethical standards in every aspect of our business. Through our established and evolving governance structures, we aim to ensure all of our operational activities are performing as intended, including complying with local and international regulations, improving business performance and ensuring stakeholder interests continue to be met.
Through our technological excellence and customer-centric approach, we strive to provide innovative, reliable and affordable satellite solutions to Yahsat’s customers. Such solutions enable communities around the world to connect with each other, and provide Yahsat with multiple opportunities to create positive community impacts.
We know that our achievements at Yahsat are fundamentally built upon the cumulative abilities and attitudes of our workforce. We are committed to empowering our employees to succeed and to become role models in their communities. A key objective is to attract and retain highly-talented employees while simultaneously promoting Emiratisation. By building a diverse, egalitarian and safe working environment, we strive to maximise employee wellbeing.
We are committed to reducing adverse environmental impacts stemming from Yahsat’s operational activities. Through reductions in our energy consumption and the exploration of incorporating renewable energy sources where possible, we are working hard to reduce our total carbon emissions. We are also seeking to reduce our resource consumption and increase material resource lifespans wherever possible.
Business partnerships continue to be a crucial component of Yahsat’s success. By prudently forming mutually beneficial partnerships, we strive to ensure all stakeholder concerns and associated risks are sufficiently addressed and monitored, as well as contributing towards national space ambitions.
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