2016 First Half Results
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 six months ended 31 December 2015.
- Second quarter revenue was $17.3m, representing 27.7% growth versus the first quarter on a constant currency basis, taking first half revenue to $31.0m with improved year-on-year quality of revenue
- $40.0m of contract wins mainly with government and large telecoms customers in the second quarter which are expected to make a strong revenue contribution in the second half
- Strong KPI performance in the period with Top-20 Customer Bandwidth Revenue Growth increasing 44.0% and Average Fleet Utilisation moved into the 25% to 30% range in the second quarter
- Guidance of 50% continuing business constant currency revenue growth for the full year to 30 June 2016 supported by the second quarter order intake and a strong order pipeline
- Fully funded business plan through to the launches of HYLAS 3 and 4 with period end cash of $162.6m and further undrawn consented credit capacity of $71.0m
David Williams, Avanti’s CEO said:
‘Our product delivers the highest quality and flexibility in the market. As a result we have won some of the best contracts with the most prestigious customers. These included a contract with Telkom SA to provide national high speed broadband coverage across South Africa and in the UK a contract with BT to provide universal high speed national broadband under the Government’s Broadband Delivery scheme. Our Defence business grew strongly with major contracts worth more than $30m. Our growth prospects are supported by both our recent order wins and a very strong pipeline of near term opportunities that are in advanced stages of negotiation. Avanti is strongly capitalised with more than adequate cash headroom. In a pioneering market, the combination of a good product, good customers and a fully funded model assures us that Avanti has a successful trajectory ahead.’
For further information please contact:
Avanti: Matthew Springett, +44 (0)207 749 6703
Cenkos Securities: Max Hartley (Nomad) / Julian Morse, +44 (0)207 397 8900
Montfort: Nick Miles / James Olley, +44 (0)203 770 7909
Redleaf: Hannah Nicolas, +44 (0)207 382 4734
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 a further two fully funded satellites under construction.
Avanti Communications is listed in London on AIM (AVN:LSE).