Full Year Results

16 September, 2015

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 financial year ending 30 June 2015.

Highlights:

  • Revenue up 29.9% to $85.2m (2014: $65.6m)
  • Continuing business constant currency revenue up 50.4%
  • Net cash at year end $122.2m (2014: $195.3m) with a pro forma cash balance of $248.5m
  • Contract wins with key target customers including SENTECH, Tanzania Telecoms Company and Orange Telkom Kenya
  • Top-20 Customer Bandwidth Revenue Growth 53.7%
  • Year end fleet utilisation up to the 20% to 25% band (2014: 10% to 15%)
  • Construction of HYLAS 4 commenced with launch on-track for early 2017
  • Continuing business constant currency growth rate expected to continue into 2016

David Williams, Avanti’s CEO said: ‘Avanti has the most advanced technology platform in our region, delivering outstanding service quality across many application areas from broadband to defence, at prices that fundamentally change market demand. Our distribution platform in existing geographies is now mature, with success in signing the largest telecoms operators in most of our key markets. Thus the achievement of our long term plan is now a matter of continued execution of the same performance, with cash flows expected to build as customer growth compounds.’

 

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