Avanti Reports Increased Revenue and EBITDA in 1st Half 2018

London, UK, October 1, 2018--Avanti Communications Group plc,  a provider of satellite data communications services in Europe, the Middle East and Africa, released results for the twelve months ending June 30, 2018. The company reported revenue for the six months to June 2018 increased 23% to US$ 29.9 million (2017: $24.3 million) while EBITDA for the six months to June 2018 increased to US$4.7 million from an EBITDA loss in 2017 of US$ 26.2 million.

Some of the highlights to 30 June, include:

• HYLAS 4 launched successfully and now in service at 33.5W.
• Balance sheet restructuring completed by equitizing the 2023 notes in April.
•  Kyle Whitehill joined as Chief Executive on 3 April 2018

Since June 30, the follwing were also achieved:

• Successful arbitration proceedings against the Government of Indonesia and subsequent receipt of US$ 20.1 million.
• Master Distribution Agreement agreed with Comsat, gaining access to US Government.
• US$ 10 million contract signed with Viasat for HYLAS 4 capacity
• Seven-year wholesale capacity agreement signed for $84 million

Kyle Whitehill, Avanti’s CEO said:“The restructuring of the balance sheet and the launch of HYLAS 4 has given Avanti the platform for growth. This is supported by the recently announced contract wins with Comsat and Viasat and develops our Government and wholesale strategy.”