Unaudited Interim Results for the twelve months ended 30 June 2018
Avanti Communications Group plc (“Avanti” or the “Group”), a leading provider of satellite data communications services in Europe, the Middle East and Africa, issues the following results for the twelve months ended 30 June 2018.
Highlights to 30 June
- HYLAS 4 launched successfully and now in service at 33.5W
- Balance sheet restructuring completed by equitizing the 2023 notes in April
- Revenue for the six months to June 2018 increased 23% to $29.9 million (2017: $24.3 million)
- EBITDA for the six months to June 2018 increased to $4.7 million from an EBITDA loss in 2017 of $26.2 million
- Kyle Whitehill joined as Chief Executive on 3 April 2018
Highlights post 30 June
- Successful arbitration proceedings against the Government of Indonesia and subsequent receipt of $20.1 million
- Master Distribution Agreement agreed with Comsat, gaining access to US Government
- $10 million contract signed with Viasat for HYLAS 4 capacity
- Seven-year wholesale capacity agreement signed for $84 million
Kyle Whitehill, Avanti’s CEO said:
“The restructuring of the balance sheet and the launch of HYLAS 4 has given Avanti the platform for growth. This is supported by the recently announced contract wins with Comsat and Viasat and develops our Government and wholesale strategy.”
Notes to editors
Avanti connects people wherever they are – in their homes, businesses, in government and on mobiles. Through the HYLAS satellite fleet and more than 180 partners in 118 countries, the network provides ubiquitous internet service to a quarter of the world’s population. Avanti delivers the level of quality and flexibility that the most demanding telecoms customers in the world seek.
Avanti is the first mover in high throughput satellite data communications in EMEA. It has rights to orbital slots and Ka band spectrum in perpetuity that covers an end market of over 1.7bn people.
The Group has invested $1.2bn in a network that incorporates satellites, gateway earth stations, datacentres and a fibre ring.
Avanti has a unique Cloud based customer interface that is protected by patented technology.
The Group has three satellites in orbit and HYLAS 3 under construction.
Avanti Communications is listed in London on AIM (AVN:LSE).
