Avanti Communications GroupĀ plc Q3 Trading Update

Avanti Communications Group plc
Quarter 3 trading update

Avanti Communications Group PLC (“Avanti” or “the Group”), a leading provider of satellite data communications services in Europe, the Middle East and Africa, announces its trading update for the three months ended 30 September 2019. 

Revenue for the quarter was $17.1m, including bandwidth revenue of $15.2m. EBITDA for the quarter, before one-off restructuring costs of $0.7m, was $0.5m. The period end cash balance was $25.9m and the period end backlog was $141.0m.

Trading remains on target against internal plans. Progress continues with the cost optimisation project and the Company is well placed to achieve the previously announced full year savings which should result in positive EBITDA for the full year.

This announcement contains inside information. 

For further information, please contact:

Avanti Communications

 

Nigel Fox
Tel: +44 20 7749 1600

 

 

 

 

 

 

 

 

 

About Avanti

Avanti connects people wherever they are – in their homes, businesses, in government and on mobiles. Through the HYLAS satellite fleet and 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, ground stations, datacentresand a fibre ring.

Avanti has a unique Cloud-based customer interface that is protected by patented technology.  www.avantiplc.com

 

 

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