Preliminary Results Announcement

London – 10 October 2012. Avanti Communications Group plc (AIM: AVN, “Avanti” or “the Company”), the satellite operator, has published today its unaudited preliminary results for the year ended 30 June 2012.

 

Operational Highlights

  • Announcement today that HYLAS 2 has entered service, open for business on all beams
  • 22% more capacity available for sale than originally expected due to technical successes (11GHz versus 9GHz)
  • HYLAS 3 fully financed and under construction for launch in 2015

Financial Highlights

  • Revenues and Other Operating Income increased by 246% to £15.0 million (2011: £6.1 million)
  • Cash at year end of £76.7 million
  • Backlog increased by 57% to £268 million
  • Strong sales momentum – the average monthly target of £11m new Backlog continues to be achieved
  • Although the phasing of Backlog is more back-ended than expected, existing satellites are expected to be full at current run rate in 2016

 

Commenting, John Brackenbury, CBE, Avanti Chairman said:

“This has been a year of very strong growth for Avanti.  The momentum of launching our second satellite in as many years to expand coverage to a total of 53 countries has created very significant demand.  This is now evidenced in our contract backlog which grew by 57% in the year.  Within the high growth markets that Avanti serves our flexible and resilient technology is winning business from customers who urgently need reliable, high quality communications.  
The formal launch of service today on HYLAS 2 over Africa and the Middle East gives us access to markets showing high economic and structural growth in demand for telecoms services.  We look forward to the continued development of Avanti with growing confidence.”

 

 

For further information please contact:
Avanti Communications Group Plc
Tel: +44 (0) 20 7749 1600
David Williams, Chief Executive
Sean Watherston, Director of IR and Corporate Finance

 

Cenkos Securities plc
Tel: +44 (0) 20 7397 8900
Nicholas Wells (Nomad)/Julian Morse

 

Jefferies Hoare Govett
Tel: +44 (0) 20 7029 8000
Neil Collingridge/John Fishley

 

Tulchan Communications LLP
Tel: +44 (0) 20 7353 4200
James Macey White
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