RNS – 2016 Full Year Results

20 December, 2016


Avanti Communications Group plc

2016 Full Year Results


Highlights

 

  • Revenue of $82.8m for the full year (2015: $85.2m)
  • Revenue from capacity, services & equipment up 24% to $74.5m (2015: $60.1m)
  • Contract wins with key target customers including Everything Everywhere
  • Cash at year end $56.4m (2015: $122.2m)
  • Net debt¹ at year-end of $588.9m (2015: $406.2m)
  • Loss for the year $69.2m (2015: $73.3m)
  • Top-20 Customer Bandwidth Revenue Growth3 of 50% (2015: 54%)
  • Year-end fleet utilisation2 up to the 25% to 30% band (2015: 20% to 25%)
  • Pro-forma current fleet utilisation4 was 35% to 40% (2015: 20% to 25%

 

1 Net debt comprises current and non-current loans and borrowings less cash and cash equivalents
2 Year-end fleet utilisation helps to track capacity uptake and gives an indication of revenue potential when Avanti’s fleet is mature. It is calculated by expressing utilised capacity as a percentage of total available capacity for the fleet of HYLAS 1(3 GHz), HYLAS 2 (11 GHz) and ARTEMIS (1 GHz)
3 Top-20 Customer Bandwidth Revenue Growth is defined on page 16
4 Including full pro forma impact of future contracted customer ramps on the current fleet as described in note 2 above

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