Arqiva 1H18 financial results
26/02/2018
Highlights
Revenue on a like-for-like basis is up 5.0%, demonstrating excellent progress in 700MHz spectrum clearance, DAB radio rollout and smart-metering
This growth, together with progress in ongoing efforts to increase operating efficiency, led to an increase in EBITDA of 11.0%
Resultant cash inflow from operations of £259m is up 19.4% against the prior year
Financial Results Revenue in the period was up 3.4% to £482.0m from £466.3m in the same period last year. Revenue on a like-for-like basis, which accounts for last year's WiFi business disposal, increased 5.0%.
Revenue in our Terrestrial Broadcast business grew 7.0% to £239.4m from £223.8m in the same period last year. This performance was driven in part by our 700 MHz spectrum clearance programme which is paving the way for 5G communications in the UK, and also by DAB radio rollout.
Revenue in our Telecoms & M2M business grew 4.4% to £174.7m from £167.4m in the same period last year. Revenue growth on a like-for-like basis in the Telecoms & M2M business was 9.1%. This was driven by increased revenue from our telecoms towers business and the smart energy metering contract.
Revenue in our Satellite and Media business decreased 9.6% to £67.9m from £75.1m in the same period last year. This was a result of Arqiva exiting low-margin contracts and is also partly due to the negative impact of foreign exchange movements.
EBITDA, a key measure of the Group's financial performance, increased 11.0% during the period to £256.1m (1H 2017: £230.7m). This strong performance can be attributed in part to an improvement in gross profit as a result of the revenue increase and shift in product mix, as well as improved operating efficiency and effective management cost-control through our FutureFit programme.
Net Cash inflow from operating activities during the period was £259.6m, up 19.4% from £217.4m in the same period last year.
Net capital expenditure during the period was £85.4m, up 10.1% from £77.6m in the same period last year
Simon Beresford-Wylie, Chief Executive of Arqiva, commented:
These results show that Arqiva continues to make excellent progress. We are a highly Operating Cash-generative business and our strong operating performance indicates improved efficiency across the entire Group. The strength of our financial performance reflects our vital role in delivering the technology that will ensure Britain's digital future. From the delivery of new TV content to the clearance of the airwaves over which 5G will come to life, and the overall increasing demand for connectivity over the airwaves, we are a key enabler of a coming change. These results give us greater courage than ever in our convictions and we look forward to a strong second half across all of these areas.
1H Developments by business area Terrestrial Broadcast 700MHz Clearance and DTT Spectrum Arqiva continues to make excellent progress in its work to clear the 700MHz spectrum band for use in future 5G wireless technology for mobile network providers. All planned clearance events in this critical infrastructure project have so far been completed on time and on plan.
Digital Radio (DAB) Rollout Having completed the DAB rollout programme for the BBC in September 2017, the Group is progressing well with the delivery of Commercial local DAB. The project involves Arqiva delivering new transmitters or upgrades at 221 sites and will take local DAB coverage to over 91%.
Telecoms & M2M Smart Metering Rollout Arqiva's smart energy metering network in the North of England and Scotland has continued to roll out to plan and currently covers 93% of premises. Within smart water metering, the Group is making particular progress in the Thames Water London region, where there are now over 255,000 meters installed.
4G The UK's four Mobile Network Operators (MNOs) continue to increase their 4G network coverage using Arqiva infrastructure. Since rollout began in 2014, Arqiva has completed 7,585 4G equipment upgrades to support customers' growing coverage requirements.
Management Changes Since the period end Arqiva appointed Jeremy Mavor as Group General Counsel and David Crawford as Managing Director of the Telecoms & M2M business unit. Jeremy and David replace Michael Giles and Nicolas Ott respectively, who have decided to step down from their positions after a number of years of distinguished service. The Board thanks them for their contributions and wishes them well for the future.
Jeremy moves to the General Counsel role from his position as Head of Legal for finance and corporate matters, while David Crawford will formally move from his post as Managing Director of Satellite & Media on 01 April. Alex Pannell (previously the Commercial Director of Satellite & Media) will take up leadership of the Satellite & Media business unit on an interim basis.
Outlook The Group will continue to invest in its core telecoms and broadcast infrastructure markets with a continued focus on operating these businesses more efficiently in order to deliver sustained growth in earnings. Net Capital Investment is anticipated to reduce in line with the phasing of expenditure on the Group's major capital programmes.
Figures quoted within this release are for the Arqiva Broadcast Parent Limited Consolidated Group
Contact Us
Press and media enquiries
+44 (0) 7773 045480 /
+44 (0) 7583 017130
E: press.office@arqiva.com
LINK: | http://www.arqiva.com/news/press-releases/arqiva-1h18-financial-result... |
See more stories from arqiva |
Most recent headlines
04/08/2024
Dalet Appoints Santiago Solanas as CEO to Lead Next Era of Growth and Innovation
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet and Veritone Reach Agreement to Distribute, Transact and Monetize Media Archives
Dalet, a leading technology and service provider for media-rich organizations, a...
29/05/2024
WRAL-TV's Shrader, Holland Talk Historic Hurricane Forecast on WRAL Daily Download
NOAA (the National Oceanic and Atmospheric Administration) issued a forecast las...
29/05/2024
SWR moves to software playout with integrated Pixel Power solution from Rohde & Schwarz
SWR moves to software playout with integrated Pixel Power solution from Rohde & ...
28/05/2024
AI and Disinformation in Taiwan's 2024 Election
This is a summary of the report commissioned by Thomson on AI Disinformation Attacks during Taiwans 2024 Presidential Elections, written by Professor Chen-ling ...
28/05/2024
In A Violent Nature: Festivalgoers Look Through the Eyes of a Murderer
PARK CITY, UTAH - JANUARY 22: Chris Nash attends the 2024 Sundance Film Festival In A Violent Nature premiere at the Library Center Theatre on January 22, 202...
28/05/2024
Aerojet Rocketdyne Expanding Huntsville Operations to Increase Solid Rocket Motor Deliveries
Aerojet Rocketdyne's Advanced Manufacturing Facility opened in 2019. The com...
28/05/2024
France Tlvisions Upgrades to Grass Valley Kaleido-IP Video Multiviewer to Support its Upcoming SMPTE-2110 Live UHD/3G Broadcast Transition
MONTREAL, CANADA -May 28, 2024 - Grass Valley , the leading innovator for live p...
28/05/2024
How Will Venu Sports Impact Pay-TV Subscriptions?
NEW ROCHELLE, NY Venu Sports, the new sports streaming bundle from Disney, Fox and WBD expected to launch later this year, could attract more than 4 in 10 sport...
28/05/2024
Tucson TV Stations Launch NextGen TV Service
TUSCON Six stations have launched NextGen TV, aka ATSC 3.0 broadcasts in the Tucson, Ariz., area....
28/05/2024
WSC Sports Unveils Trio Of AI-Driven Content Solutions
TEL AVIV, Israel WSC Sports has introduced three additions to its product portfolio for sports ecosystem companies that address content management, creation and...
28/05/2024
Pixotope Enables Remote Intercontinental Camera Tracking for NEP the Netherlands
Pixotope Enables Remote Intercontinental Camera Tracking for NEP the Netherlands Brie Clayton May 28, 2024 0 Comments Remote markerless through-the-le...
28/05/2024
Picture Shop's Mark Kueper Grades Billy the Kid With DaVinci Resolve Studio
Picture Shop's Mark Kueper Grades Billy the Kid With DaVinci Resolve Studio Brie Clayton May 28, 2024 0 Comments Blackmagic Design today announced...
28/05/2024
Profoto enters the cinema market with L1600D
Profoto enters the cinema market with L1600D Brie Clayton May 28, 2024 0 Comments Profoto enters the cinema market with uncompromising speed of use an...
28/05/2024
After Effects cameras and Unreal Engine
After Effects cameras and Unreal Engine Graham Quince May 28, 2024 0 Comments Welcome to my series on learning Unreal Engine for video production, esp...
28/05/2024
Apple Motion: Understanding Fixed Resolution
Apple Motion: Understanding Fixed Resolution Simon Ubsdell May 28, 2024 0 Comments An overview of this tricky but important topic which can hit you wi...
28/05/2024
OBS Taps Alibaba Cloud for AI-Enhanced MultiCamera Replays at Paris 2024
LONDON Olympic Broadcasting Services recently tested AI-enhanced multcamera replay tech from Alibaba Cloud at the Olympic Qualifier Series in Shanghai in prepar...
28/05/2024
Dune Part 2 and Avatar colourists to take part in DaVinci Resolve Live Tour
The events are for filmmakers, editors, colourists, and visual effects artists, whether theyre beginners and experienced users By Jenny Priestley Published: ...
28/05/2024
Meet the head of sound
1185 Films Mark Hodgkin explains his journey from studying classic guitar and piano to working on the sound of TV adverts, films and documentaries By TVBEurope...
28/05/2024
Alfalite presents its LED displays at InfoComm 2024
Alfalite, the European LED display manufacturer, returns for the second consecutive year to InfoComm with its LED displays for the rental, fixed installation an...
28/05/2024
Leader Electronics Corporation Appoints AV Group Technolo...
Leader Electronics Corporation, globally active innovator of broadcast-quality test and measurement instrumentation, announces the appointment of Sydney-based A...
28/05/2024
Advanced 3D qualifier in DaVinci Resolve
Advanced 3D qualifier in DaVinci Resolve Kasia Jarco May 27, 2024 0 Comments In today's advanced tutorial, I want to show you how and why to use 3...
28/05/2024
Deadline Approaching for 2024 Emerging Leaders Intern Program
Applications for CBC & Leadership Triangle Due May 31 Only a few days remain for HBCU students in the Triangle to apply for the 2024 Emerging Leadership Intern...
28/05/2024
VEON Progresses with Asset-Light Strategy, Reaches Agreement to Sell Stake in TNS+ in Kazakhstan
28 May 2024 VEON Progresses with Asset-Light Strategy, Reaches Agreement to Sel...
28/05/2024
Analytics and Powering Next-Generation Consumption Experiences: A Conversation With ESPN's Allison Loucks
Analytics and Powering Next-Generation Consumption Experiences: A Conversation W...
28/05/2024
Live From London: Buzz 16 Tackles Production Duties for TNT Sports' EPCR Finals Host Coverage
Live from London: Buzz 16 tackles production duties for TNT Sports' EPCR fin...
28/05/2024
Live From London: EPCR Takes Over Tottenham Hotspur Stadium for European Rugby Finals Weekend
Live from London: EPCR takes over Tottenham Hotspur Stadium for European rugby f...
28/05/2024
Advance Step: Gen AI, Data and Coud on the Radar for British Basketball League as Production Transformation Continues
Advance step: Gen AI, data and cloud on the radar for British Basketball League ...
28/05/2024
AWS's Andrew Reich on Recent Developments in the Cloud, Helping Sports Clients Adjust to Industry-Wide Changes
AWS's Andrew Reich on Recent Developments in the Cloud, Helping Sports Clien...
28/05/2024
Riedel Bolero Empowers Student Production Excellence at Orange County School of the Arts
Wuppertal May 28, 2024 Riedel Bolero Empowers Student Production Excellence at...
28/05/2024
Bridgerton' Continues Its Reign; Atlas' Debuts at #1
Back to All News Bridgerton' Continues Its Reign; Atlas' Debuts at #1 Entertainment 28 May 2024 Global Link copied to clipboard Dearest Gentle R...
28/05/2024
Micro LED Panels and AlfaArt Combine the Best Digital Art with the Latest LED Display Technology in Easy-to-Use Solution
FOR-A Highlights Turnkey LED Video Wall System from Strategic Partner Alfalite a...
28/05/2024
2024-05-28
The Apple Hearing Study is sharing new insights on tinnitus in one of the largest surveys to date....
28/05/2024
Apantac Best of Show 2024 at NAB
Apantac Best of Show 2024 at NABApantac Best of Show 2024 at NAB Beaverton, Oregon, USA - May 22, 2024, - We are pleased to announce that our product OG-HDR-UDX...
28/05/2024
Thales' FlytEDGE digitally remasters the inflight entertainment experience
Facebook Twitter LinkedIn Live personalization for a journey filled with unique experiences Instantly stream favorites and never miss a beat, continue wa...
28/05/2024
AI-backbone for FCAS operational
AI-backbone for FCAS operational The HIS consortium and partners provide BAAINBw and industry with a cross-sectional AI development platform for FCAS (AI-back...
27/05/2024
Experience inspiration. Master challenges. With SIGRAFLEX and SIGRAFINE at ACHEMA 2024
It will soon be that time again: ACHEMA, the worlds most important trade show fo...
27/05/2024
How L3Harris Evolved into Canada's Trusted Tanker Aircraft In-Service Support Provider
L3Harris has been maintaining Canada's CC-150 Polaris fleet for over a decad...
27/05/2024
Tech Lifestyle Influencer Shelby Church Uses Blackmagic Cloud Storage with DaVinci Resolve Studio
Tech Lifestyle Influencer Shelby Church Uses Blackmagic Cloud Storage with DaVin...
27/05/2024
Bridge Technologies Introduce StreamOverview to the VB330
Bridge Technologies Introduce StreamOverview to the VB330 Brie Clayton May 27, 2024 0 Comments Single page diagnostics overview gives first-line engin...
27/05/2024
Intelligent Video Effects from Film Impact
Intelligent Video Effects from Film Impact Colin Smith May 27, 2024 0 Comments Take an incredible trip though the many unbelievable transitions from F...
27/05/2024
Midwest Regional Broadcasters Clinic Announces Agenda
The Midwest Regional Broadcasters Clinic (MRBC) announced its agenda for the clinic being held Tuesday, Sept. 10, and Wednesday, Sept. 11, in Middleton, Wis....
27/05/2024
NVIDIA Scoops Up Wins at COMPUTEX Best Choice Awards
Building on more than a dozen years of stacking wins at the COMPUTEX trade show's annual Best Choice Awards, NVIDIA was today honored with BCAs for its late...
27/05/2024
Live From NCAA Men's Lacrosse National Championship: ESPN Travels Down I-95 to Familiar Lincoln Financial Field
Live From NCAA Men's Lacrosse National Championship: ESPN Travels Down I-95 ...
27/05/2024
Rohde & Schwarz presents its solutions for next generation wide bandgap device test and debug at PCIM Europe
Rohde & Schwarz presents its solutions for next generation wide bandgap device t...
27/05/2024
Hierarchy' Trailer Teases a Dark Scandal and Social Upheaval at Jooshin High School
Back to All News Hierarchy' Trailer Teases a Dark Scandal and Social Uphea...
27/05/2024
SKY Perfect JSAT selects Thales Alenia Space to build a new cutting-edge software-defined satellite JSAT-31
Facebook Twitter LinkedIn Tokyo / Cannes, May 27th 2024 - Asia's large...
26/05/2024
Vizrt to showcase state-of-the-art proAV solutions at Inf...
Vizrt, the leader in real-time graphics and live production solutions for content creators, will be present at InfoComm for the first time since unifying with N...
26/05/2024
Alfredo Valdes Named Noticiero Telemundo Arizona' Meteorologist
Alfredo Valdes has been named meteorologist for Noticiero Telemundo Arizona weekday morning newscasts, which run on KTAZ Phoenix and KHRR Tucson. Both stations ...
26/05/2024
Paramount, Charter Reach Carriage Deal That Includes Linear Networks, TV Stations and Streaming Services
Paramount Global and Charter Communications said they reached a new carriage agr...