Abu Dhabi – Mubasher: The profits of the satellite communications company Al Yah “Yahsat” fell by 19% during the first nine months of this year.
The company’s profits amounted to 129 million dirhams ”at the end of the first nine months of 2022, compared to 159 million dirhams made in the same period of 2021.
According to a press release, nine-month revenue increased 11% year-on-year to AED 1.2 billion, supported by the growth of mobile and managed solutions.
Adjusted EBITDA increased 10% yoy to AED 694 million in 9 months, resulting in a strong profit margin of over 60%.
The company recorded 39% year-over-year growth in printed net profit to reach AED 278 million, which contributed to a hefty 24% profit margin.
Interestingly, profits, owned by 60% of the Mubadala Investment Company, increased by 51% during the first half of this year.
Its profits during that period amounted to 166.6 million dirhams, compared to profits of 110.6 million dirhams, made in the same period in 2021.