RNS – 2017 Full Year Results

27 December, 2017

 


Avanti Communications Group plc

2017 Full Year Results



Highlights

 

  • Revenue of $56.6m for the full year (2016: $82.8m)
  • Significant provision against receivable from the Government of Indonesia
  • Impairment charges against HYLAS 1, HYLAS 2, and Filiago
  • Finance restructuring plan launched to equitise all of the 2023 notes, and to reduce the interest rate on the 2021 notes
  • Cash at year end of $32.7m (2016: $56.4m)
  • Net debt¹ at year end of $562.0m (2016: $588.9m)
  • David Williams, CEO, steps down shortly after the year end

1  Net debt comprises current and non-current loans and borrowings less cash and cash equivalents

 

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