Avanti Financial Results

RNS

London – 15 September 2014. Avanti Communications Group plc (AIM: AVN, "Avanti" or "the Company"), the satellite operator, has published today its unaudited results for the year ended 30 June 2014.

Operational Highlights

  • Success in contracting and building several cellular backhaul networks
  • Success in contracting and launching broadband deployments for several large telcos
  • Acquisition of Artemis satellite and procurement of HYLAS 4 to create best Ka band coverage in EMEA

Financial Highlights

  • Revenues increased by 104% to $65.6 million (2013: $32.1 million)
  • $430 million Backlog (2013: $445 million)
  • EBITDA positive for the full year for the first time
  • $195.3 million cash at year end

Paul Walsh, Avanti Chairman commented: "It has been a good twelve months for Avanti.  Revenues doubled and the company generated positive EBITDA for the year.  New business was signed with major international telecoms and media companies.  The company succeeded in financing a new satellite on attractive terms which offers shareholders a major growth opportunity.   We are building a business that can potentially generate over $700 million in revenues and over $500 million EBITDA annually if the current fleet is filled.   The achievements of the year clearly show that Avanti is capable of achieving this ambitious growth in time."

For full report, please click here

–ENDS–

 

For further information please contact:

 

Avanti Communications Group Plc     

Tel: +44 (0) 20 7749 1600

David Williams, Chief Executive

Nigel Fox, Finance Director

 

Cenkos Securities plc               

Tel: +44 (0) 20 7397 8900

Max Hartley (Nomad)/Julian Morse

 

Jefferies Hoare Govett    

Tel: +44 (0) 20 7029 8000

Neil Collingridge

 

Tulchan Communications   

Tel: +44 (0) 20 7353 4200

James Macey-White

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