AVN.L Regulatory News (AVN)

This announcement contains Inside Information

For immediate release

20 December 2016

Avanti Communications Group PLC

Q1 2017 Trading Update

Q1 2017 Trading Update

Following the release today of the Group's audited Preliminary Announcement and $242 million Refinancing and Completion of Strategic Review Announcement, the Group announces its first quarter trading update for financial year 2017. Revenue for the quarter was $18.0m and EBITDA was ($5.0m). The period end cash balance was $43.1m and the period end backlog was $276m. Utilisation of the existing fleet was in the 35% to 40% range, including the full pro-forma impact of significant new customer wins in the period.

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Notes to editors

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, datacentres 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).

www.avantiplc.com

News type: 

RNS

Date: 

20 December 2016