Q1 Trading Update 2018
Avanti Communications Group PLC
For immediate release 30 January 2018
Avanti Communications Group plc (AIM: AVN, “Avanti” or “the Company”), the satellite operator, announces its trading update for the three months ended 30 September 2017. Revenue for the quarter was $9.7m and EBITDA was ($3.8m). The period end cash balance was $90.0m and the period end backlog was $95.2m.
Alan Harper, Nigel Fox
Tel: +44 20 7749 1600
Montfort Communications (PR)
Nick Miles, James Olley
Tel: +44 203 770 7909
Cenkos Securities (Nomad)
Max Hartley, Nicholas Wells
Tel: +44 207 397 8900
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, data centres 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).