Interim Results Announcement

London – 12 February 2014. Avanti Communications Group plc (AIM: AVN, “Avanti” or “the Company”), the satellite operator, has published today its unaudited interim results for the six months ended 31 December 2013.

 

Key developments

  • Revenues up 81%
  • 40 new contracts in the period of which 14 are increased order sizes
  • Continuing sales momentum with high quality global telco and media customers
  • Artemis satellite acquisition completed, spectrum transferred and marketing of service commenced
  • $370m bond placed on competitive terms to re‐finance and extend maturities

 

Financial highlights

  • Revenues increased by 81% to $25.0 million (2012: $13.8m million)
  • Positive EBITDA of $1.0 million (2012: $7.4 million negative)
  • Cash at period end of $78.3 million (2012: $81.8m)
  • Backlog at 31 December 2013 of $455 million
  • Strong sales momentum in all product categories

​

Commenting, John Brackenbury, CBE, Avanti Chairman said:

“Revenues almost doubled in the period showing that we are building strong sales momentum. The efficiencies generated by the use of Ka band, and the Quality and Flexibility of our design have generated enduring competitive advantages for Avanti. Predicting growth in new markets is an imprecise science, but we are now exporting to 88 countries and to 122 customers including some of the best names in telecoms, media and specialist satellite service providers, giving a strong basis for confidence.”

 

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/John Fishley

 

Tulchan Communications Tel: +44 (0) 20 7353 4200

James Macey‐White

 

About Avanti

  • Avanti is a carriers’ carrier, selling wholesale data telecoms to service providers which use them to create networks for enterprise, carrier, government and consumer users.
  • Avanti serves customers in Europe, Middle East and Africa.
  • Avanti's network consists of three satellites in orbit plus a fourth under construction and an international fibre network connecting data centres in several countries.
  • Customers access the fleet through the Avanti Cloud platform, the most powerful proprietary system in the Industry.
  • Avanti has Ka band (and some Ku and S band) spectrum filings in the ITU Master Register at 33.5°W, 21.5° East and 31.0° East.
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