14 May 2012 07:00
Avanti Communications
Interim Management Statement
London - 14 May 2012. Avanti Communications Group plc (AIM: AVN, "Avanti" or "the Group"), the satellite operator, issues an Interim Management Statement covering trading for the four month period to 30 April 2012.
Avanti's revenue is in line with house broker estimates for the financial year to 30 June 2012.
The Group has added £42.3m of Backlog. Backlog increased to £213m from the £181m reported at 31 December 2011. The Pipeline of potential sales stands at £529m (excluding £170m options on HYLAS 2).
HYLAS 2 successfully completed one of its last key technical milestones, thermal vacuum testing, during the period and remains on target for a launch in the 30-day window from 30 June 2012. The satellite will extend Avanti's coverage to Africa, Caucasia and the Middle East.
David Williams, Chief Executive, commented:
"Our products are selling well in the higher value-added application markets in Europe, and demand for the imminent HYLAS 2 satellite is very high. With HYLAS 3 included, 80% of our capacity will serve emerging markets which offer high growth potential.
"Momentum in Backlog growth is building as we approach HYLAS 2's launch and in the last six months we have secured new monthly orders in line with our targets to fill HYLAS 1 by April 2014 and HYLAS 2 by September 2016."
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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/Thomas Rider
College Hill Tel: +44 (0) 20 7457 2020
Adrian Duffield/Jon Davies
About Avanti
·; Avanti sells satellite data communications services to telecoms companies which use them to supply residential, enterprise and institutional users.
·; Avanti's first satellite called HYLAS 1, launched on November 26th 2010 and is the first superfast broadband satellite launched in Europe.
·; Avanti's second satellite, called HYLAS 2, is on target for launch in July 2012. It will extend Avanti's coverage to Africa, Caucasia and the Middle East.
·; Avanti's third satellite HYLAS 3, to be launched in partnership with ESA in 2015, will provide further capacity in the EMEA region
·; 80% of Avanti's fleet capacity will address the Emerging telecommunications markets of Africa, Caucasia and the Middle East.