Avanti Communications - HYLAS 4 signals a boost to financials
Avanti made good progress in the second six months of the current extended financial period. In addition, HYLAS 4 became commercially operational this month and there have been significant contract awards since launch, encouraging the belief that it should improve the financial outlook. The last reporting period reflected some uncertainty around the financial restructuring; however, this has been completed successfully. Avanti also received $20m cash from the Indonesian arbitration settlement in August. We await guidance for FY19 trading, including possible modest financing needs, before restoring forecasts.Avanti Communications Group is engaged in commercial exploitation of its space and network assets. These assets include its spectrum rights, satellites, intellectual property and ground station assets. Co.'s network and other assets include broadband packages, managed capacity, fully integrated project, raw capacity, pure spectrum and a number of other product categories and models to suit customer and market circumstances. Co.'s technology platform is made up of two operational satellites and one hosted payload in orbit, two satellites under construction, and a ground segment infrastructure delivering comprehensive coverage of Europe, the Middle East and Sub-Saharan Africa.
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