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Australian satellite company announces best year-end financial results
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Jeremy Dale Thompson
Aug 31, 2012, 12:21:53 AM8/31/12
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A strong teleport business has been the driving force behind the revenue growth of Australia’s independent satellite communications company. On Monday, NewSat Ltd announced its results for the financial year 2012, ending June 30. Based on the reports, the company’s teleport business is one of major factors to the 29% rise in revenues. From 2011’s $28.8 million, revenue from ordinary activities has increased to $37.2 million. The report also shows a positive operating cash flow of $4.9 million.
NewSat was able to secure over 306 teleport contracts during the 2012 period with an average value of $40,000 per annum. Aside from providing satellite communication services to US government personnel in the Middle East, NewSat also secured high-profile infrastructure projects in Papua New Guinea and Timor Leste. The company’s foray into the resource sector has seen new agreements with mining, oil and gas, as well as construction companies. Earlier this year, NewSat’s teleports were rated as one of the Top 3 by the World Teleport Association.
The satellite company’s performance was also buoyed by the Jabiru Satellite Program. Currently under construction in partnership with Lockheed Martin, the Jabiru 1 is slated for a 2014 launch, and is expected to become Australia’s first commercial satellite, delivering high-powered Ka band coverage across Asia, the Middle East and Africa. The project also gaining even more ground when the US Ex-IM Bank approved a loan to fund the ka-band satellite.
According to NewSat Founder and CEO, “Demand for satellite communications continues its resilient global growth. Our enterprise and government customers are increasingly demanding faster speeds, higher quality and secure communications to support their mission critical business activities. NewSat’s first satellite, Jabiru-‐1, is expected to generate more than US$3billion over the 15year life of the satellite at 70% utilisation, creating a step change in earnings and EBITDA margins.”
The outlook for the FY2013 is also quite promising. Just recently, NewSat secured its largest teleport contract to date with BAE Systems to provide offshore and onshore communications to the Wheatstone Project in Western Australia. The LNG development headed by Chevron is the largest in the said region and NewSat’s enterprise-grade satellite communications best suits the project.
Mr Ballintine commented, “The NewSat business is in a strong position. We have a profitable and award winning core teleport business which generates growing Monthly Recurring Revenues and kick-started the 2013 financial year with the largest ever single contract for the Wheatstone Project.”
To download a copy of the FY2012 year-end result, please visit this link: http://www.newsat.com/Download-document/323-NewSat-announces-30-June-2012-year-end-results.html
NewSat was able to secure over 306 teleport contracts during the 2012 period with an average value of $40,000 per annum. Aside from providing satellite communication services to US government personnel in the Middle East, NewSat also secured high-profile infrastructure projects in Papua New Guinea and Timor Leste. The company’s foray into the resource sector has seen new agreements with mining, oil and gas, as well as construction companies. Earlier this year, NewSat’s teleports were rated as one of the Top 3 by the World Teleport Association.
The satellite company’s performance was also buoyed by the Jabiru Satellite Program. Currently under construction in partnership with Lockheed Martin, the Jabiru 1 is slated for a 2014 launch, and is expected to become Australia’s first commercial satellite, delivering high-powered Ka band coverage across Asia, the Middle East and Africa. The project also gaining even more ground when the US Ex-IM Bank approved a loan to fund the ka-band satellite.
According to NewSat Founder and CEO, “Demand for satellite communications continues its resilient global growth. Our enterprise and government customers are increasingly demanding faster speeds, higher quality and secure communications to support their mission critical business activities. NewSat’s first satellite, Jabiru-‐1, is expected to generate more than US$3billion over the 15year life of the satellite at 70% utilisation, creating a step change in earnings and EBITDA margins.”
The outlook for the FY2013 is also quite promising. Just recently, NewSat secured its largest teleport contract to date with BAE Systems to provide offshore and onshore communications to the Wheatstone Project in Western Australia. The LNG development headed by Chevron is the largest in the said region and NewSat’s enterprise-grade satellite communications best suits the project.
Mr Ballintine commented, “The NewSat business is in a strong position. We have a profitable and award winning core teleport business which generates growing Monthly Recurring Revenues and kick-started the 2013 financial year with the largest ever single contract for the Wheatstone Project.”
To download a copy of the FY2012 year-end result, please visit this link: http://www.newsat.com/Download-document/323-NewSat-announces-30-June-2012-year-end-results.html
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