News Article | May 12, 2017
Kristine Lofthus started the 2 May as Head of Quality Assurance. Kristine comes to Oncoinvent from the Institute for Energy Technology (IFE) where she has worked as QA and QP responsible for the release of radiopharmaceuticals and for quality systems for the past five years. Prior to working at IFE, she was Head of the Manufacturing Department at the Oslo University Hospital Pharmacy. Kristine Lofthus has a cand.pharm. from the University of Oslo and a post-graduate degree in radiopharmacy. Kristin Fure started the 2 May as Production Engineer responsible for production of Ra224 and Radspherin®. Kristin also comes to Oncoinvent from the Institute for Energy Technology (IFE). Kristin is a Research Scientist that has seventeen years' experience in the manufacturing of radioisotopes. Kristin graduated with a cand. scient. in Nuclear Chemistry from the University of Oslo. Ole Peter Nordby who has been acting as Oncoinvent's interim CFO has been appointed Chief Financial Officer as of May 2. Ole Peter has more than fifteen years in positions as portfolio manager, investment director and financial analyst at several funds and investment companies. Through the main part of his career as fund manager and analyst he has been occupied with listed Nordic companies in the Life Science sector. He holds a MBA from the Norwegian Business School BI and is a Certified European Financial Analyst (CEFA). Kari Skinnemoen has accepted the position of Head of Regulatory Affairs and will be starting 1 June. Kari has thirty-seven years' experience within development and registration of new products in the pharmaceutical and medical device industry, including twenty-eight years' experience in global regulatory affairs, most recently at Alere Technologies AS. She has also held managing positions within Quality Assurance and R&D. Kari holds a cand.real. degree in Organic Chemistry from the University of Oslo. "We are very pleased that we have been able to attract such qualified and experienced people to the Oncoinvent team. Their addition will greatly help the company in the commercialization of Radspherin® and the development of the company" said Jan A. Alfheim, Oncoinvent's CEO. This information was brought to you by Cision http://news.cision.com The following files are available for download:
News Article | May 11, 2017
The global aviation IoT market to grow at a CAGR of 19.17% during the period 2017-2021. The report covers the present scenario and the growth prospects of the global aviation IoT market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of aviation IoT. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. Off late, the penetration of in-flight entertainment (IFE) systems has become a major focus area for the airline operators. Many airlines have been offering IFE solutions to their customers as a value-added service. Availability of IFE solutions has become a point of selection from the passenger perspective. Therefore, the airlines are increasingly emphasizing on investing in covering all of their aircraft under the ecosystems of IFE, so that they can avoid significant customer attrition and remain competitive in the market. According to the report, the aviation sector encompasses numerous activities that require significant investment in operations and maintenance projects. Therefore, the nature of the industry remains capital intensive. However, by incorporating IoT-based solutions, key stakeholders of the aviation industry such as the airlines and third-party maintenance, repair, and overhaul (MRO) service providers can minimize their maintenance and operation-related overheads, resulting in higher profit earnings. Further, the report states that it may be expected that due to the implementation of IoT-enabled solutions, sensors, beacons, and wearables will start transmitting and interpreting information. This will require superior IT analysis to procure the appropriate architecture. The aviation industry still requires the implementation of smart machine learning algorithms to generate value from the IoT technologies, which can derive insight from the sensor data and propose actions in real time. Also, the integration of IoT systems in the present infrastructure is a cost-intensive process, even though individual IoT components are cost-effective. Once these are installed, they require maintenance. Also, since protocols tend to keep changing, interoperability costs are significant. Key Topics Covered: Part 01: Executive summary Part 02: Scope of the report Part 03: Research Methodology Part 04: Introduction Part 05: Market landscape Part 06: Innovation landscape Part 07: Market segmentation by application Part 08: Geographical segmentation Part 09: Market drivers Part 10: Impact of drivers Part 11: Market challenges Part 12: Impact of drivers and challenges Part 13: Market trends Part 14: Case studies Part 15: Stakeholder activities Part 16: Vendor landscape Part 17: Appendix For more information about this report visit http://www.researchandmarkets.com/research/kgxznv/global_aviation Research and Markets Laura Wood, Senior Manager firstname.lastname@example.org For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-aviation-iot-market-2017-2021-penetration-of-in-flight-entertainment-ife-systems-has-become-a-major-focus-area---research-and-markets-300455994.html
News Article | May 18, 2017
KOUROU, French Guiana--(BUSINESS WIRE)--SES (Euronext Paris:SESG) (LuxX:SESG) announced today that the SES-15 satellite was successfully launched onboard a Soyuz rocket from the Guiana Space Center in Kourou, French Guiana at 08:54 local time. This is SES's first satellite to launch on a Soyuz rocket for a geostationary transfer orbit mission. SES-15 carries a hybrid payload, comprising Ku-band wide beams and Ku-band High Throughput Satellite (HTS) capability, with connectivity to gateways in Ka-band. SES’s first hybrid satellite will be located at the orbital position of 129 degrees West and is equipped with 16 Ku-band transponders (36 MHz equivalent) as well as HTS capabilities to serve North America, Mexico, Central America and the Caribbean. SES-15’s high throughput payload will deliver optimised and flexible coverage for major global inflight connectivity and entertainment (IFC/IFE) service providers, such as Global Eagle Entertainment, Gogo and Panasonic Avionics. In addition, SES-15 has a dedicated wide beam that is designed to enable IFC/IFE providers to deliver live TV content on all flight routes across the US, including Hawaii and Alaska, as well as Canada, the Caribbean and Mexico. This unique combination of beams allows IFC/IFE providers to optimise HTS capacity use for internet traffic and wide beam coverage for broadcast content. The satellite will also enable VSAT networks and other traffic intensive data applications in the government and maritime sectors. SES-15 will also carry a Wide Area Augmentation System (WAAS) hosted payload, which will enable the US Federal Aviation Administration (FAA) to augment the Global Positioning Systems (GPS) with the goal of improving accuracy, integrity and availability of the system for the aviation industry. The satellite is equipped with an electric propulsion system for orbit-raising and in-orbit maneuvers. “The successful launch of SES-15 is the first of our three planned hybrid satellites, which have both wide beams and high throughput capability. SES-15, along with the soon-to-be launched SES-14 hybrid satellite, and our existing in-orbit satellites, offer the most resilient aeronautical connectivity platform in North America,” said Martin Halliwell, Chief Technology Officer at SES. “SES-15 will allow us to strengthen our ability to provide next generation services in data-intensive markets such as maritime and corporate broadband.” “SES is a long-standing partner, and we are delighted to be part of its important journey in serving the ever-growing aeronautical and data markets by successfully launching SES-15 on a Soyuz rocket,” said Stephane Israël, Chief Executive Officer at Arianespace. More information about SES-15 is available here: www.ses.com/newsroom/launch-ses-15 SES White papers are available under: https://www.ses.com/news/whitepapers SES is the world-leading satellite operator and the first to deliver a differentiated and scalable GEO-MEO offering worldwide, with more than 50 satellites in Geostationary Earth Orbit (GEO) and 12 in Medium Earth Orbit (MEO). SES focuses on value-added, end-to-end solutions in two key business units; SES Video and SES Networks. The company provides satellite communications services to broadcasters, content and internet service providers, mobile and fixed network operators, governments and institutions. SES’s portfolio includes the ASTRA satellite system, which has the largest Direct-to-Home (DTH) television reach in Europe, O3b Networks, a global managed data communications service provider, and MX1, a leading media service provider that offers a full suite of innovative digital video and media services. Further information available at: www.ses.com
News Article | May 21, 2017
Commercial Avionics Systems Market Accounting for US$ $26 Billion, by 2022 Commercial Avionics Systems Market Report, published by Allied Market Research, states that the commercial avionics systems market was valued at $16 billion in 2014 and is projected to reach $26 billion by 2022, growing at a CAGR of 7.1% from 2016 to 2022. Portland, OR, May 21, 2017 --( In 2015, the communication, navigation, & surveillance (CNS) sub-system accounted for the maximum revenue share among the sub-system types in the commercial avionics systems market. This is due to the increasing demand for real-time data in the aviation industry. In addition, the health monitoring systems are expected to witness the fastest growth over the forecast period. Among the types of aircraft, the wide-body aircraft dominated the global commercial avionics systems market in 2015. However, the narrow-body aircraft are expected to grow at the fastest pace over the forecast period. Read more at: https://www.alliedmarketresearch.com/commercial-avionics-systems-market "North America dominates the global commercial avionics systems market pertaining to the advancements in technologies particularly in the CNS and the flight control systems, paired with the presence of major aircraft manufacturers including The Boeing Company, Bombardier Inc., and others. Further, the investments in technological enhancements such as better in-flight entertainment systems and glass cockpits supplement the regions dominant position." The Asia-Pacific commercial avionics systems market is estimated to grow at the highest rate due to increasing requirements of aircraft from the aviation industry and increased government initiatives. Key Findings of the Commercial Avionics Systems Market: • The communication, navigation, and surveillance system is expected to exhibit a significant increase in the commercial avionics systems market growth. • In 2015, wide-body aircraft generated the highest revenue among other aircraft types. • Asia-Pacific is projected to exhibit a substantial growth during the forecast period. The key players profiled in the report include United Technologies Corporation, Thales Group, GE Aviation, Garmin Ltd., Rockwell Collins, Honeywell International Inc., L-3 Communications Holdings, Inc., Panasonic Avionics Corporation, Universal Avionics Systems Corporation, and Teledyne Technologies, Inc. Portland, OR, May 21, 2017 --( PR.com )-- Surge in the number of aircraft deliveries, increasing demand for real-time data, economic growth in emerging countries, and increasing demand for in-flight entertainment (IFE) services are expected to drive the growth of the global commercial avionics systems market. However, factors such as vulnerability to cyberattacks and high costs involved are expected to hamper the market growth during the forecast period. Growth of low cost carriers in emerging economies is expected to provide lucrative opportunities for the commercial avionics systems market growth.In 2015, the communication, navigation, & surveillance (CNS) sub-system accounted for the maximum revenue share among the sub-system types in the commercial avionics systems market. This is due to the increasing demand for real-time data in the aviation industry. In addition, the health monitoring systems are expected to witness the fastest growth over the forecast period. Among the types of aircraft, the wide-body aircraft dominated the global commercial avionics systems market in 2015. However, the narrow-body aircraft are expected to grow at the fastest pace over the forecast period.Read more at: https://www.alliedmarketresearch.com/commercial-avionics-systems-market"North America dominates the global commercial avionics systems market pertaining to the advancements in technologies particularly in the CNS and the flight control systems, paired with the presence of major aircraft manufacturers including The Boeing Company, Bombardier Inc., and others. Further, the investments in technological enhancements such as better in-flight entertainment systems and glass cockpits supplement the regions dominant position."The Asia-Pacific commercial avionics systems market is estimated to grow at the highest rate due to increasing requirements of aircraft from the aviation industry and increased government initiatives.Key Findings of the Commercial Avionics Systems Market:• The communication, navigation, and surveillance system is expected to exhibit a significant increase in the commercial avionics systems market growth.• In 2015, wide-body aircraft generated the highest revenue among other aircraft types.• Asia-Pacific is projected to exhibit a substantial growth during the forecast period.The key players profiled in the report include United Technologies Corporation, Thales Group, GE Aviation, Garmin Ltd., Rockwell Collins, Honeywell International Inc., L-3 Communications Holdings, Inc., Panasonic Avionics Corporation, Universal Avionics Systems Corporation, and Teledyne Technologies, Inc. Click here to view the list of recent Press Releases from Allied Market Research
News Article | May 24, 2017
CHICAGO--(BUSINESS WIRE)--LAUNCH Technical Workforce Solutions LLC announced the promotions of Roy Carwile, Jason Adams and Mike Reporto. Following the success of the LAUNCH Avionics division, the company broadened its LAUNCH Teams capabilities to include Structures and AOG support, enabling project-based teams to be deployed on US and international assignments. Roy Carwile has been promoted to President of LAUNCH Teams. “ Roy is uniquely qualified to lead this division,” said Mike Guagenti, LAUNCH’s CEO. “ Roy’s 30 years’ experience with some of the largest names in the aviation industry, has provided him with valuable insight and appreciation for both customer and employee needs.” Under Mr. Carwile’s leadership, projects completed by LAUNCH Avionics have included Wi-Fi and IFE installations, interior modifications, ADS-B modifications, and NGS modifications. Another growing segment for the company is its LAUNCH Professional division, which focuses on staffing senior professional positions within the aviation sector. Jason Adams assumes the role of President of this division. “ Jason’s in-depth industry knowledge, coupled with LAUNCH’s ability to network with the best available talent, ensures our clients access to the best-qualified candidates,” Guagenti remarked. Mr. Adams has established strong relationships during his tenure at LAUNCH and through his career at Delta. Adams has a proven track record of delivering substantial value, driving top-tier operational performance, leading organizations through major change, and implementing major initiatives. Mike Reporto’s promotion to Vice President, Recruiting, demonstrates LAUNCH’s ongoing commitment to developing incomparable teams. “ We appreciate Mike’s drive and passion for excellence,” Guagenti said, “ and wanted to recognize his impact and success.” In his new role, Mr. Reporto assumes responsibility for broadening the capabilities of the recruiting team, while continuing to provide direction on the company’s marketing and social media strategies, and assisting with operational development. ABOUT LAUNCH: Chicago-based LAUNCH Technical Workforce Solutions LLC is the aviation industry’s fastest growing staffing solution with over 700 contract resources supporting clients in more than 160 locations worldwide. LAUNCH provides technicians, engineers, machinists and other skilled workers to leading airlines, MROs, OEMs and service centers, and Avionics, Structure and AOG teams for project-based solutions worldwide. Guided by a leadership team with extensive experience in aviation and technical staffing, LAUNCH is committed to providing solutions that are innovative, customer driven and technologically advanced.
News Article | May 24, 2017
DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Airline Ancillary Services Market 2017-2021" report to their offering. The analysts forecast the global airline ancillary services market to grow at a CAGR of 15.02% during the period 2017-2021. The report covers the present scenario and the growth prospects of the global airline ancillary services market for 2017-2021. To calculate the market size, the report considers the four major sources of ancillary revenue, including revenue generated from the sale of FFP miles, provision of onboard retail and other à la carte services, a collection of baggage fees, and sale of travel retail services. The report also includes a discussion of the key vendors operating in this market. The latest trend gaining momentum in the market is growing acceptance of BYOD. Installation of fixed or stationary IFE devices necessitates airlines to incur substantial investments in aircraft retrofitting. Vendors, like Panasonic Avionics and Rockwell Collins, offer such stationery IFE systems that are embedded in aircraft seats. According to the report, one of the major drivers for this market is growing adoption of branded fare options. Globally, airlines have been seeking new and unique pricing strategies that can help them in achieving superior values for their product offerings. Simultaneously, greater emphasis is being laid on building a mass awareness regarding their brands. This is where the strategy of adopting differential pricing approaches, like branded fare, which go beyond basic fare rules comes in picture. Further, the report states that one of the major factors hindering the growth of this market is High volume of disparate data requires substantial investments in IoT ecosystem. The generation of high volumes of data during various processes is a key concern for the aviation industry. Long-term information management solution generates data that is difficult to manage, as it is fragmented across multiple units and functions. For more information about this report visit http://www.researchandmarkets.com/research/bcnznk/global_airline
News Article | February 24, 2017
LUXEMBOURG--(BUSINESS WIRE)--SES S.A. (Euronext Paris:SESG) (LuxX:SESG) announced financial results for the year ended 31 December 2016. 1 “Constant FX” restates comparative figures to neutralise currency variations and thus facilitate comparison 2 “Same scope” excludes the impact of the consolidation of RR Media and O3b during 2016 (including transaction-related costs) 3 Based on rating agency methodology (treats hybrid bonds as 50% debt and 50% equity). Under IFRS (treats hybrid bonds as 100% equity), Net Debt to EBITDA ratio was 2.65 times at 31 December 2016 (31 December 2015: 2.54 times) Karim Michel Sabbagh, President and CEO, commented: “2016 was a year of acceleration for SES. We continued to execute our strategy of building differentiated capabilities in the four market verticals. This contributed to delivering 2.7% growth in reported revenue and SES’s highest ever contract backlog. In Video, SES continued to enhance the viewing experience, adding nearly 170 HDTV channels and grew in UHD to 21 commercial channels. SES accelerated the scale-up of capabilities across the value chain through the creation of MX1, which now provides value-added ancillary capabilities to over 2,750 global TV channels and more than 120 Video on Demand platforms. Acquiring the remaining shares in O3b allowed SES to bring it fully into the group, which is now uniquely placed to deliver ubiquitous managed network solutions for our data customers. The efficient integration of GEO-MEO capabilities enabled SES to increase the number of prime global and regional enterprise customers and provides a strong growth engine for 2017 and beyond. Mobility revenue grew 67% at same scope and constant FX and almost doubled in 2016 as reported. SES is now the partner of choice for the four major global providers of inflight connectivity and entertainment. The agreement with Thales for SES-17, and further agreements with Global Eagle Entertainment, Gogo and Panasonic Avionics, increased SES’s significant Mobility backlog and validates our differentiated approach of building customised and scalable satellite-enabled solutions. SES’s Government business continued to recover in the U.S. as we are increasingly able to deliver services across the value chain. This includes customised end-to-end solutions, such as TROJAN. 2016 also marked the first joint award for SES and O3b by the U.S. Department of Defense. Equally important is SES’s growth in international Government clients in 2016, including an important end-to-end service agreement for NATO’s AGS. In RR Media and O3b, SES acquired two important growth accelerators and realised EUR 60 million of annual financing synergies from fully refinancing the O3b debt, commencing in 2017. These were supported by EUR 2.2 billion of new financing completed within SES’s financial framework. SES is committed to building the business with strategic clarity, value accretive investments and strong execution. These fundamentals support our objective of delivering sustained and profitable growth in all four market verticals, and will enable SES to continue to generate attractive long-term returns for shareholders.” SES is the world-leading satellite operator and the first to deliver a differentiated and scalable GEO-MEO offering worldwide, with more than 50 satellites in Geostationary Earth Orbit (GEO) and 12 in Medium Earth Orbit (MEO). SES focuses on value-added, end-to-end solutions in four key market verticals (Video, Enterprise, Mobility and Government). It provides satellite communications services to broadcasters, content and internet service providers, mobile and fixed network operators, governments and institutions, and businesses worldwide. SES’s portfolio includes the ASTRA satellite system, which has the largest Direct-to-Home (DTH) television reach in Europe, and O3b Networks, a global managed data communications service provider. Another SES subsidiary, MX1, is a leading media service provider and offers a full suite of innovative digital video and media services. Further information available at: www.ses.com SES is focused on delivering flexible and scalable global capabilities, and is uniquely positioned to provide comprehensive end-to-end solutions across each of the four market verticals – Video, Enterprise, Mobility and Government. As a result of SES’s commercial activity in 2016, the group’s fully protected contract backlog increased from EUR 7.4 billion to EUR 8.1 billion for the year ended 31 December 2016. This included EUR 0.3 billion from O3b and EUR 0.1 billion from RR Media, which were consolidated by SES during 2016. SES’s global Video business benefits from the unique combination of prime neighbourhoods, substantial technical reach of over 317 million households, hybrid platforms and ancillary services. These create significant value for over 600 broadcast clients served by SES and MX1 through long-term commitments. Reported revenue benefited from the contribution of RR Media, which was consolidated on 6 July 2016 and merged with SES Platform Services to create MX1. As the world’s leading media services provider, MX1 is entrusted with the distribution of over 2,750 global TV channels (including over 500 channels for which MX1 delivers fully managed playout services) and more than 120 Video on Demand (VoD) platforms. The transition of Standard Definition (SD) to High Definition (HD) viewing formats is an important growth driver for SES. Since 31 December 2015, the number of HDTV channels broadcast over SES’s global fleet increased by 7.2% to 2,495 HDTV channels. HDTV channels now represent 33.1% of SES’s total TV channel count (31 December 2015: 31.2%), which also grew from 7,457 channels to 7,538 channels in 2016. In Europe, SES’s HDTV channel count grew by nearly 100 channels (or 14%) with the benefit of important new contracts and capacity renewals with a range of Pay-TV operators and Free-to-Air broadcasters. As a result, Europe HDTV penetration grew from 26% in December 2015 to 29% in December 2016. Many of these contracts also included ancillary services, which complemented the capacity agreements. For example, in December 2016, MX1 secured an additional contract to support the introduction of Sky’s first free-to-air channel, Sky Sports News, in Germany and Austria via satellite. Other notable long-term European video contracts in 2016 included a capacity renewal and extension with M7 Group to carry additional HDTV channels in Central and Eastern Europe; an agreement to broadcast NHK WORLD TV in HD; and an agreement for MX1 to provide content distribution services for the broadcast of English Premier League matches in HD to TV service platforms, channels and networks across the Americas, Asia, Europe and the Middle East. In December 2016, CANAL+ and SES signed a multi-year and multi-transponder agreement, re-affirming CANAL+ Group’s long-term commitment to satellite and resulting in a significant increase in contract backlog from the customer. Additionally in December 2016, MX1 signed a multi-year agreement to manage the technical services and satellite transmission of Eurosport 1HD on SES’s HD+ platform in Germany. The new channel increased HD+’s encrypted HDTV offering to 23 channels, in addition to 35 free-to-air HD channels, which are now broadcast to 2.1 million paying subscribers (31 December 2015: 1.8 million). SES has continued to maintain strong momentum in the introduction of commercial Ultra HD (UHD). SES has now secured agreements for 21 commercial UHD channels (31 December 2015: eight). These channels include the first two UHD channels launched by Sky Deutschland – Sky Sport Bundesliga UHD and Sky Sport UHD. SES’s UHD distribution platform serving cable operators and multi-channel television platforms throughout North America is now home to nine linear UHD channels. During 2016, Travelxp 4K, 4KUNIVERSE, Nature Relaxation 4K, INsight TV and C4K360 joined SES’s UHD neighbourhood in North America (hosted on SES-1, SES-3 and AMC-18), which reaches over 100 million households. In August 2016, bobbles.tv contracted SES capacity and MX1 services to launch a new global TV platform for expatriates living in Europe. This contract highlights the complementarity of satellite and terrestrial, as subscribers can select the Direct to Home (DTH) and/or the Over the Top (OTT) package. Under the agreement, SES and MX1 provide DTH and OTT back-end solutions, as well as distribution services via satellite and content delivery networks. On 1 June 2016, SES-9 was brought into commercial service increasing capacity over important markets in the Asia-Pacific region and contributing to the further globalisation of SES’s video business. The satellite, co-located with SES-7, enables SES to expand a major video neighbourhood, which already serves over 22 million households. Prior to SES-9’s entry into service, SES announced a multi-year, multi-transponder agreement with Sky Cable, the Philippines’ largest cable TV operator, to deploy a nationwide DTH service. During the course of 2016, SES also continued the expansion of video platforms in South Asia, including agreements with key existing customers for capacity on SES-9. Enterprise revenue was 20.4% lower than the prior year at same scope and constant FX, or 17.8% lower excluding the contribution to 2015 revenue from capacity contracted to ARSAT, in advance of the planned migration to its own satellite, and the impact of capacity renewal with EchoStar on AMC-16. Lower revenue derived from wholesale capacity contracted to small and medium-sized resellers for point-to-point applications was the main contributor to the lower 2016 results at same scope. SES has continued to reposition the Enterprise business and, as a result, these customers now represent around 2% of group revenue (2015: around 4%). In August 2016, SES acquired the remaining shares of O3b, which operates a unique, global high throughput satellite (HTS) constellation at Medium Earth Orbit (MEO). In its second full year of commercial operations, O3b has generated USD 109 million of revenue, which represents an increase over the prior year of over 90%. O3b now serves 52 different customers around the world, of which around 65% have increased their initial bandwidth and services commitments since O3b began commercial operations in September 2014. Year-on-year growth in O3b’s enterprise revenue of 66% was a significant contributor to overall development in 2016, driven by increased demand from existing customers and new business contracts. During 2016, customers such as Digicel Pacific, Palau National Communications Corporation, SpeedCast International and Our Telekom contracted incremental O3b capacity. In October 2016, RCS-Communication increased its capacity requirement to support increasing demand for cloud-based applications and enterprise resource planning systems in South Sudan. In addition to incremental capacity, RCS also became the first customer to implement O3b Performance Services Diversity solution, which uses a software defined networking platform to improve overall network reliability and resilience. In January 2017, Palau Telecoms, Timor Telecom and Presta Bist were the most recent O3b customers to renew and expand their current service requirements. Having upgraded a number of times since 2014, Timor Telecom now receives more than one Gigabit per second (Gbps) of fibre-equivalent connectivity with network availability exceeding 99.9%. Palau Telecoms has increased network capacity five times in the last 24 months, nearly doubling its service capacity since going live over the O3b network to keep pace with growing subscriber demand. In addition to O3b, SES has continued to expand commercial relationships with major global and regional enterprise customers. In February 2016, SES launched the Enterprise+ Broadband service across five markets in Africa, providing a simple, affordable and flexible connectivity platform for service providers, and delivering up to one Gbps with 99.5% service availability. Enterprise+ Broadband was the first product to be launched as part of Plus, SES’s next generation data network that will provide customised solutions for Enterprise, Mobility and Government clients. SES is the only operator able to combine multiple satellite technologies (GEO wide beam, GEO HTS and MEO HTS) across a range of spectrum (C-, X-, Ku-, Ka-band), with a robust global management network and innovative IP-based solutions to optimally serve any customer requirement around the world. In April 2016, SES secured a managed service agreement with Facebook to provide high-speed connectivity solutions to Sub-Saharan Africa, using SES’s customised Enterprise+ Broadband services. The contract supports Facebook’s Express Wi-Fi programme and involved designing a highly tailored solution, which uses SES satellite capacity and supporting data centre and implementation services. In May 2016, SES and Gilat Satellite Networks Ltd. launched SES Enterprise+ Hybrid Broadband in Asia, an innovative solution using capacity on SES-9 and Gilat’s hybrid terminal to provide cost-effective Internet connectivity to underserved areas at improved download speeds. In addition, SES established a new partnership with Indonesia’s largest telecommunications services provider, PT Telekomunikasi Indonesia, to deliver connectivity also using SES-9 capacity. Reported revenue grew 67.3%, at same scope and constant FX, driven by significant commercial agreements secured for aeronautical and maritime services. SES has secured major, long-term commitments for existing and future capacity, as well as services, with Global Eagle Entertainment (GEE), Gogo, Panasonic Avionics and Thales. Through these relationships, SES is now the partner of choice to all four of the world’s leading providers of inflight connectivity (IFC) and inflight entertainment (IFE), which collectively serve nearly 90% of the total aircraft currently connected worldwide. In February 2016, SES and Panasonic Avionics signed major, multi-year agreements for HTS and wide beam capacity aboard SES-14 and SES-15 to serve airline passengers throughout the Americas. Panasonic Avionics will also utilise the capacity to serve growing maritime markets, as well as oil and gas operations. Also in February 2016, SES secured a major, long-term agreement with Gogo for HTS and wide beam capacity on SES-14 and SES-15. SES-14 and SES-15 will deliver optimised coverage and solutions to meet the growing demand for high-speed connectivity and inflight entertainment on travel routes over the Americas, Caribbean and North Atlantic. These satellites, along with SES-12, are scheduled for launch in 2017 and will significantly enhance SES’s global network of multi-layered (HTS and wide beam capacity) and multi-band capacity to meet the specific requirements of the evolving aeronautical market. In September 2016, SES entered into a long-term commercial agreement with Thales to offer FlytLIVE, using SES-17, across the Americas and over the Atlantic Ocean. FlytLIVE is a new connectivity solution with full Internet services, including video streaming, games, social media and live television for passengers. Thales will launch FlytLIVE during 2017 on an SES-enabled network in advance of the launch of SES-17, an optimised Ka-band high throughput satellite, in 2020. The total value of the commitment made by Thales represents a significant share of the expected investment in the project. In December 2016, GEE acquired a Ku-band payload on-board AMC-3 to expand their network capacity in North America, as well as the Gulf of Mexico and the Caribbean, for their airline customers. SES will operate the non-station-kept satellite, which is well positioned to play a vital role in GEE’s delivery of connectivity solutions. This was then followed, in January 2017, by a further important multi-transponder agreement with a leading global IFC/IFE provider for capacity across SES’s existing network, as well as supporting ground infrastructure. SES’s expanded maritime solutions, including O3b, also contributed to growth in 2016. Since entering commercial service in September 2014, O3b has expanded its commercial relationship with Royal Caribbean Cruises from providing capacity-only services to two cruise ships to delivering a fully managed end-to-end solution across 11 cruise ships. This contributed to year-on-year growth of 66% in O3b’s mobility revenue for 2016. In May 2016, SeaVsat selected SES’s Enterprise+ Broadband solution and contracted additional satellite capacity to deliver connectivity and Voice over Internet P (VoIP) services to their maritime customers. In September 2016, SES launched the global Maritime+ service, a managed connectivity service that combines SES’s global network infrastructure and hybrid satellite capacity with the latest technology from VT iDirect. In October 2016, O3b and RigNet announced an agreement to provide O3b services for MODEC’s floating production storage and offloading vessels, situated off the coast of Brazil. The O3b solution will enable MODEC to deliver operational decisions in real time, thus improving overall production and operating efficiency. In January 2017, SES announced an important partnership with Satcom Global to deliver a worldwide managed mobility service. The solution will form a crucial part of Aura, Satcom Global’s new Ku-band Very Small Aperture Terminal (VSAT) service, which will provide seamless and reliable high-speed connectivity to hundreds of maritime, offshore and land customers. At same scope and constant FX, revenue was 9.5% lower than 2015, which had benefitted from the accelerated revenue contribution associated with the construction phase of the Wide Area Augmentation System (WAAS) and Global-Scale Observations of the Limb and Disc (GOLD) hosted payloads. Excluding these two U.S. government-funded payloads, revenue was 5.1% lower. For over 40 years, SES Government Solutions (SES GS) has been providing satellite communications solutions to a range of U.S. government, intelligence and civilian agencies. In 2016, SES GS continued to recover from the impact of the U.S. budget sequestration and benefit from its ability to deliver differentiated services across the value chain. In April 2016, SES GS was the sole winner of two important U.S. government TROJAN follow-on contracts, supporting the U.S. Army Intelligence and Security Command (INSCOM). Both contracts were secured as Blanket Purchase Agreements with five-year performance periods, and involved upgrading the original contracts from bandwidth-only to delivering a customised and managed global end-to-end solution. This program represents the largest government contract ever awarded to SES GS, with a total potential value of up to USD 285 million. In August 2016, SES GS secured a contract to provide O3b’s high throughput and low latency managed solution for a U.S. Department of Defense (DoD) end-user. The solution provides the capability to transfer large files from remote locations, allowing end-users to view simultaneous HD-quality videos and enhancing real time situational awareness. The contract also enables the U.S. government to order additional O3b services to meet surge requirements. This contract followed the completion of SES GS and O3b’s first managed services installation for the U.S. National Oceanic and Atmospheric Administration (NOAA), which provides an uninterrupted high-speed data connection between NOAA’s National Weather Service Office (NWSO) in the Pacific and the primary NWSO in Hawaii. These contracts contributed to year-on-year growth in O3b’s Government revenue of over 500% for the year ended 31 December 2016. In 2016, SES has continued to globalise its Government business by adding new customers, capabilities, products and solutions. In January 2016, SES secured a new contract with the Kativik Regional Government, in Canada, to provide connectivity services across the northern Quebec region. The contract, which began in June 2016, uses 12 transponders to deliver critical communications capabilities to more than 14 remote communities by delivering up to three times the amount of bandwidth that was previously available. In September 2016, SES introduced a first Government+ product offering designed to provide enhanced situational awareness for border security, special event monitoring and disaster response missions around the world. Tactical Persistent Surveillance (TPS) is a highly portable and cost effective solution, which hosts a variety of advanced sensor and communications payload options at altitudes of up to 1,000 feet. The advanced sensor payload can transmit or backhaul Intelligence, Surveillance and Reconnaissance (ISR) video and data via satellite to a centralised monitoring and control centre. In October 2016, SES, as a partner in emergency.lu, provided vital connectivity services in Haiti to support disaster recovery efforts following Hurricane Matthew. Using the emergency.lu terminals and dedicated SES capacity, responders were able to re-establish vital communications links and improve the effectiveness of the humanitarian relief efforts. In November 2016, LuxGovSat, a public-private partnership between the Luxembourg government and SES, secured a long-term agreement to support NATO’s Alliance Ground Surveillance (AGS). Under the contract, LuxGovSat will deliver an end-to-end service, including commercial satellite capacity and associated managed services. As of 31 December 2016, SES’s GEO fleet comprised 1,530 available (36 MHz equivalent) transponders (31 December 2015: 1,502 available transponders). This included the new capacity from SES-9’s entry into commercial service on 1 June 2016, offset by the acquisition of a Ku-band payload on AMC-3 by GEE in December 2016. The recent GEE agreement demonstrates SES’s overall strategy to build a robust, global and multi-layered network of traditional and high throughput capacity to meet the specific needs and requirements of high growth sectors. In Q1 2016, power degradation on NSS-6 resulted in a reduction of five commercially available transponders, while no existing commercial traffic was impacted. The satellite will be replaced by SES-12, which is expected to be launched end-2017. There were no other events affecting commercially available capacity on the SES fleet in the year. Of the group’s total available capacity, 1,102 transponders were utilised (31 December 2015: 1,093 utilised transponders). Consequently, the utilisation rate was 72.0% as at 31 December 2016 (31 December 2015: 72.8%) for SES’s GEO fleet. 1) To be positioned using electric orbit raising (entry into service typically four to six months after launch) 2) Procured by LuxGovSat SES plans to launch six satellites by the end of 2017, adding important expansion capacity in fast-growing markets. These programmes are complemented by the addition of eight new satellites to O3b’s unique high throughput and low latency MEO constellation, starting in 2018. These launches through 2019, plus SES-9 (which entered into service on 1 June 2016), are expected to contribute up to EUR 750 million of incremental annualised revenue at ‘steady-state’ utilisation (equivalent to over 35% of SES’s 2016 group revenue), where important anchor customers have already been secured. In September 2016, SES announced the procurement of SES-17, a Ka-band high throughput satellite that will provide optimal coverage for the busiest data corridors in the Americas and over the Atlantic Ocean. The satellite is expected to be launched in 2020 and is expected to add a further EUR 100 million of annualised revenue at ‘steady-state’ utilisation. SES-10 is expected to be launched by the end of March 2017 and will be the first satellite to use a flight-proven SpaceX Falcon 9 orbital rocket booster. The satellite will provide enhanced coverage and important capacity expansion over Latin America. In February 2017, the Board of SES extended the SES Executive Committee with the appointments of Steve Collar, CEO of O3b; John Purvis, Chief Legal Officer; and Evie Roos, Chief Human Resources Officer. The Executive Committee is in charge of the daily management of the group. John has been with SES since 2001, while Evie joined the company in 2013. The appointment of Steve will further align SES’s differentiated GEO-MEO capabilities and approach, following the consolidation of O3b in August 2016. 1) Excluding contribution from RR Media and O3b from date of consolidation to 31 December 2016 2) Other includes revenue not directly applicable to a particular vertical and revenue contributions from interim missions Reported revenue was 2.7% higher than the prior year (up 2.4% at constant FX) and included a contribution of EUR 62.9 million (2015: nil) from the consolidation of RR Media (from 6 July 2016) and EUR 49.7 million from O3b (from 1 August 2016), before EUR 8.8 million of inter-company eliminations. Excluding RR Media and O3b, revenue of EUR 1,965.0 million was EUR 54.8 million (or 2.7%) lower at same scope and constant FX. Of this, EUR 40.4 million was due to the impact of the revenue contribution from ‘legacy items’, mainly in 2015. These items comprised the sale of European transponders, the planned migration of capacity contracted by ARSAT to its own satellite, the AMC-16 capacity renewal and the accelerated revenue associated with the construction phase of the WAAS and GOLD hosted payloads. Other revenue of EUR 42.5 million included important periodic revenue contributions. 1) Excluding impact of RR Media and O3b from date of consolidation to 31 December 2016 (including transaction-related costs) Operating expenses, at same scope and constant FX, improved by EUR 2.5 million (or 0.5%) due to on-going efficiencies. As reported, operating expenses were 18.7% higher due to the increase in costs following the consolidation of RR Media and O3b. EBITDA was 2.9% lower than the prior year and 3.2% lower at constant FX. The reported EBITDA margin was 70.2% (2015: 74.2%) and 73.7% at same scope. During the year, the positive EBITDA contribution from RR Media and O3b was mostly offset by the non-recurring transaction-related costs associated with the acquisition of the two businesses. DEPRECIATION, AMORTISATION AND OPERATING PROFIT BEFORE GAIN ON DEEMED DISPOSAL OF EQUITY INTEREST Depreciation and amortisation, at same scope and constant FX, reduced by EUR 21.8 million (or 3.6%) compared with the prior year and increased by 5.3% as reported due to the consolidation of RR Media and O3b. As a result, Operating profit before gain on deemed disposal of equity interest of EUR 820.3 million was 8.3% lower than the prior year (-8.6% at constant FX). The 2016 results include a reported gain on deemed disposal of equity interest of EUR 495.2 million, which was recognised directly before the full consolidation of O3b. Net financing costs at same scope were EUR 6.9 million (or 5.0%) lower than prior year. Excluding the change in net foreign exchange gains, net financing costs reduced by EUR 31.4 million (or 19.6%) reflecting lower interest costs and higher capitalised interest. Reported net financing costs were up EUR 38.6 million (or 28.4%) due to the consolidation of RR Media and O3b. This includes non-recurring costs of EUR 21.6 million, associated with the early refinancing of the O3b debt, which secured EUR 60 million in financial synergies from 2017 onwards. As presented using IFRS recognition principles, net financing costs exclude the annual interest payments for the EUR 1.3 billion of hybrid bonds issued during 2016 at an average coupon of 5.05%. The group’s income tax expense of EUR 114.1 million represented an effective tax rate of 10.0% (2015: 11.2%), or 17.7% excluding the gain on deemed disposal of equity interest of EUR 495.2 million. The effect of non-cash movements associated with SES’s minority shareholding in O3b (prior to consolidation on 1 August 2016) was the principal contributor to the share of associates’ result being a loss of EUR 62.4 million (2015: loss of EUR 126.7 million). The net profit attributable to SES shareholders was EUR 962.7 million (2015: EUR 544.9 million), including the EUR 495.2 million gain on deemed disposal of equity interest. Including the full costs associated with the hybrid bonds (treated as equity using IFRS recognition principles) issued in 2016, adjusted profit attributable to shareholders was EUR 947.7 million (2015: EUR 544.9 million). Earnings per share of EUR 2.18 (2015: EUR 1.34) included the impact of the increase in the number of shares following the group’s equity raising, completed in May 2016 and is after deducting the net of tax coupon for the hybrid bonds. Net operating cash flow was lower than the prior year due to the impact of timing in working capital and up-front payments related to hosted payloads in 2015. The group’s cash conversion rate (measured as the ratio of net operating cash flow to EBITDA) was 87.8% (2015: 97.1%). Investment in new satellite programmes contributed to an increase in investing activities. Excluding the cash outflow associated with the consolidation of RR Media and O3b, free cash flow before financing activities was EUR 654.6 million (2015: EUR 890.0 million) and represented 33.3% of same scope group revenue (2015: 44.2%). 1) As presented using IFRS recognition principles, where hybrid bonds are treated as 100% equity 2) Rating agency methodology treats the hybrid bonds as 50% debt and 50% equity 3) Excluding loan origination costs, commitment fees and hybrid bonds The group’s Net Debt to EBITDA ratio was 3.09 times as at 31 December 2016 (31 December 2015: 2.54 times). This treats the hybrid bonds as 50% debt and 50% equity. As presented using IFRS recognition principles, where the hybrid bonds are treated as 100% equity, the Net Debt to EBITDA ratio was 2.65 times. During 2016, SES raised EUR 2.2 billion (gross) from the issuance of new shares and the company’s inaugural hybrid bond offerings. In May 2016, SES raised total gross proceeds of EUR 909 million from the issuance of 39.86 million new Fiduciary Depositary Receipts (FDRs) and 19.93 million new Class B shares. This was followed by the issuance of two hybrid bonds (one in June 2016 and one in November 2016) totalling EUR 1.3 billion at an average coupon of 5.05%. The hybrid bonds are non-dilutive instruments and receive 50% equity treatment from each of Moody's and S&P, while classified as equity under IFRS. The proceeds from the equity raising and the hybrid bonds were used to acquire the remaining shares in O3b (for EUR 638.6 million), as well as repaying and refinancing O3b’s most expensive debt facilities. In December 2016, SES completed the refinancing of the entire USD 1.4 billion of O3b debt, generating EUR 60 million of annual financial cost savings from 2017. The refinancing was funded using available cash, which included the proceeds of the hybrid bond issued in November 2016. The Board of SES is proposing a dividend of EUR 1.34 for each Class A share and EUR 0.536 for each Class B share, in line with SES’s commitment to a progressive dividend per share policy. This dividend, which is subject to approval at the company’s Annual General Meeting on 6 April 2017, will be paid to shareholders on 26 April 2017. The financial outlook aims to provide shareholders with an understanding of SES’s growth trajectory, drivers and strategy execution in each of the market verticals, as well as the group’s long-term value creation potential. In 2016, SES achieved important milestones, extended its capabilities across the four verticals and significantly improved the business mix and growth profile. SES’s objective is to generate sustained growth in all market verticals, and is supported by an improved business mix and substantial contract backlog, which increased from EUR 7.4 billion to EUR 8.1 billion in 2016. For 20171, SES is targeting stable to slight revenue growth across Video and Government, complemented by a return to growth in Enterprise and strong growth for Mobility. SES’s future revenue trajectory will benefit from the significant contribution of recently added and forthcoming GEO and MEO investments, which are expected to generate incremental annualised revenue of up to EUR 750 million (equivalent to around 35% of 2016 group revenue) at ‘steady-state’. SES’s EBITDA margin1 is expected to be broadly stable for 2017 and 2018 and rising slightly thereafter, while operating profit margin1 is expected to significantly improve to more than 40% in the medium-term. These foundations will allow SES’s to significantly grow Return on Invested Capital (ROIC)2 to over 10% in the medium-term. 1 On a like for like basis, assuming RR Media and O3b had been consolidated on 1 January 2016. On this basis, 2016 EBITDA margin of 66.7% and 2016 Operating profit margin (before gain on deemed disposal of equity interest) of 33.3% 2 Net Operating Profit After Tax (NOPAT) divided by average of opening and closing shareholders’ equity plus Net Debt 1) Revenue elimination refers mainly to “pull through” capacity provided by Infrastructure to Services. EBITDA impact represents unallocated corporate expenses 2) Excluding contribution from RR Media and O3b from date of consolidation to 31 December 2016 QUARTERLY DEVELOPMENT OF OPERATING RESULTS (SAME SCOPE AND CONSTANT FX) 1) Earnings before interest, tax, depreciation, amortisation and share of associates’ result (net of tax) 2) Earnings per share is calculated as profit attributable to owners of the parent divided by the weighted average number of shares outstanding during the year, as adjusted to reflect the economic rights of each class of share. For the purposes of the EPS calculation only, the net profit for the year attributable to ordinary shareholders has been adjusted to include the coupon, net of tax, on the perpetual bonds. Fully diluted earnings per share are not significantly different from basic earnings per share SES White papers are available under: https://www.ses.com/news/whitepapers A presentation of the results for investors and analysts will be hosted at 10.30 CET on 24 February 2017, and will be broadcast via webcast and conference call. The details for the conference call are as follows: The presentation will be available for download from the Investors section of the SES website (www.ses.com), and a replay will be available for two weeks from the Investors section of the SES website. This presentation does not, in any jurisdiction, and in particular not in the U.S., constitute or form part of, and should not be construed as, any offer for sale of, or solicitation of any offer to buy, or any investment advice in connection with, any securities of SES nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. No representation or warranty, express or implied, is or will be made by SES, its directors, officers or advisors or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this presentation, and any reliance you place on them will be at your sole risk. Without prejudice to the foregoing, none of SES or its directors, officers or advisors accept any liability whatsoever for any loss however arising, directly or indirectly, from use of this presentation or its contents or otherwise arising in connection therewith. This presentation includes “forward-looking statements”. All statements other than statements of historical fact included in this presentation, including, without limitation, those regarding SES’s financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to SES products and services) are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of SES to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding SES and its subsidiaries and affiliates, present and future business strategies and the environment in which SES will operate in the future and such assumptions may or may not prove to be correct. These forward-looking statements speak only as at the date of this presentation. Forward-looking statements contained in this presentation regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. SES and its directors, officers and advisors do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
News Article | February 21, 2017
40-Year Satellite and Telecommunications Veteran to Drive Company’s Growth in Global Media and Mobility Company also commencing CFO search; Mr. Leddy to Serve as Interim Principal Financial Officer LOS ANGELES, Feb. 21, 2017 (GLOBE NEWSWIRE) -- Global Eagle Entertainment Inc. (NASDAQ:ENT) (“GEE,” “Global Eagle” or the “Company”) today announced that its Board of Directors has appointed Jeff Leddy as Chief Executive Officer, effective immediately. Mr. Leddy has served on the Company’s Board of Directors since January 2013 and will continue as a Director. Dave Davis resigned as a Board Director and as CEO effective February 20, 2017 to pursue other endeavors. He will continue to support the Company as a consultant during a transition period. Ed Shapiro, Chairman of the Board of Global Eagle, said, “We are excited to bring Jeff on board as CEO. He is a widely-respected industry veteran, an experienced executive and corporate leader, and has a deep understanding of GEE’s values, customer base, and products. I have worked with Jeff in various capacities for the past ten years. He has been an invaluable member of our Board since the formation of the Company and is the right leader for Global Eagle’s next phase of development.” Mr. Leddy is recognized as a high-caliber CEO and transformational leader of large and growing companies, most recently serving as the founder and CEO of Verizon Telematics (formerly Hughes Telematics, prior to its purchase by Verizon in July 2012), which is a leader in next generation connectivity solutions in North America, China and Europe. Prior to Verizon Telematics, Mr. Leddy held various executive positions at SkyTerra Communications, including serving as CEO and President and as a member of its board of directors, and as a director at Hughes Network Systems, a satellite and ground network operator. Mr. Leddy said, “I am honored to lead Global Eagle at this pivotal time. GEE has progressed to become a major provider of products and services in the media and connectivity markets for aviation, maritime, and land. Our team has outlined a plan to unlock new synergies and consolidate infrastructure. I look forward to having our team develop innovative new content, portal and information services and enhance our communications infrastructure, while focusing on internal operations, synergy realization and top-line growth.” Mr. Shapiro continued, “On behalf of the entire Board, we want to thank Dave for his hard work, dedication and unwavering commitment to Global Eagle. Since our formation, Dave served as our Chief Financial Officer, our Chief Operating Officer, and most recently as our Chief Executive Officer. Under his leadership, we more than doubled our revenue through organic growth and strategic acquisitions and diversified our revenue base with exciting new initiatives, including our planned Chinese joint-venture with Beijing Shareco to provide inflight entertainment and connectivity to the rapidly growing aviation market in China.” Mr. Davis said, “Having been with GEE since its formation, I am pleased to have led this extraordinary company and proud of our accomplishments during my tenure. I thank everyone who has supported our team in this journey, and look forward to supporting Jeff and the executive team during my transition. I will continue to cheer for Global Eagle.” The Company also announced that Tom Severson, Executive Vice President & Chief Financial Officer, resigned, effective February 20, 2017. The Board has initiated a CFO search to consider candidates for the position. In the interim, Mr. Leddy will serve as the Company’s principal financial officer. 10-K Filing Update Global Eagle expects to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2016 after the March 16, 2017 U.S. Securities and Exchange Commission deadline. The Company requires additional time to file its Annual Report given its increased size and complexity after the Emerging Markets Communications acquisition and the effect of that size and complexity on its financial reporting processes, its need to transition the finance department after the prior CFO’s departure and its need to complete additional financial-closing procedures associated with the Company’s material weaknesses in internal control over its financial reporting. The Company expects full year 2016 revenue to be at or near the low end of its prior guidance range of $530-538 million.* * The estimated full year 2016 revenue results are preliminary and unaudited. They are subject to the completion and finalization of fourth-quarter and year-end financial and accounting procedures, and reflect management’s estimate based solely upon information available to management as of the date of this press release. Further information learned during that completion and finalization may alter the final results. In addition, the preliminary estimate should not be viewed as a substitute for full year financial statements prepared in accordance with generally accepted accounting principles in the United States of America. Other than full-year 2016 revenue, we are not providing any other estimates of our financial performance (including, without limitation, Adjusted EBITDA) for the fourth quarter or full year 2016, and investors should no longer rely upon any previous estimates that we have made. In addition to the completion of our financial closing procedures and the procedures and audit to be conducted by our auditors, factors that could cause actual results to differ from those described above are set forth below under “Cautionary Note Concerning Forward-Looking Statements.” Accordingly, you should not place undue reliance upon our preliminary estimates. Global Eagle Entertainment Inc. (NASDAQ:ENT) is a leading provider of satellite-based connectivity and media to fast-growing, global mobility markets across air, sea and land. Supported by proprietary and best-in-class technologies, GEE offers a fully integrated suite of rich media content and seamless connectivity solutions that cover the globe. With approximately 1,500 employees and 50 offices on six continents, GEE delivers exceptional service and rapid support to a diverse base of customers around the world. Find out more at: www.geemedia.com. This release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding our final full-year 2016 revenue results, ability to achieve acquisition synergies, operations, financial performance, business initiatives and business outlook. These forward-looking statements are based on information available to us as of the date of this release and on our current expectations, forecasts and assumptions, and involve substantial risks and uncertainties. Actual results may vary materially from those expressed or implied by the forward looking statements herein due to a variety of factors, including: our ability to remediate material weaknesses in our internal control over financial reporting, including in a timely manner and their effect on our ability to finalize our full-year and fourth-quarter 2016 financial results and file our associated Annual Report on Form 10-K for 2016; our ability to successfully transition the chief executive officer role; our ability to identify and retain a new chief financial officer and transition the role; our ability to generate sufficient cash flow to make payments on our indebtedness or maintain adequate liquidity; our ability to integrate our acquired businesses; the ability of our business to grow, including through acquisitions which we are able to successfully integrate, and the ability of our executive officers to manage growth profitably; any delay or inability to realize the expected benefits and synergies of our acquired businesses; our ability to negotiate and consummate the Shareco joint venture transaction and associated investment on the contemplated terms and realize the benefits therefrom; our ability to settle legacy sound recording and music composition liabilities on terms that we consider reasonable; our ability to obtain and maintain licenses for content used on legacy installed IFE systems, or our failure to have the appropriate intellectual-property licenses for our business; our ability to recognize and timely implement future technologies in the aviation, maritime and land satellite connectivity and remote-communications space; our ability to capitalize on investments in developing our service offerings, including our long-term project with QEST to develop global antenna technologies; our ability to deliver end-to-end network performance sufficient to meet increasing airline and maritime customer and passenger demand; the loss of, or failure to realize benefits from, agreements with our airline and maritime partners; the loss of relationships with original equipment manufacturers or dealers; our reliance on third-party satellite service providers and equipment and other suppliers; the result of ongoing tax audits that could result in reduction of tax carryforwards and imposition of tax penalties and interest, plus payments of back-taxes owed; the loss of additional members of management and other key employees; and other risks and uncertainties set forth in our most recent Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date the statements are made. You should not put undue reliance on any forward-looking statements. We assume no obligation to update forward-looking statements except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
News Article | February 15, 2017
— The growing middle class and increasing disposable income as well as growing demand of low cost airlines are major factors expected to drive the growth of the aerospace interior adhesive market. However, stringent government regulations and stagnant growth in North America and Europe may restrain the growth of the aerospace interior adhesive market. Complete report on global aerospace interior adhesive market spread across 147 pages, profiling 10 companies and supported with 112 tables and 41 figures is now available at http://www.rnrmarketresearch.com/aerospace-interior-adhesive-market-by-resin-type-epoxy-cyanoacrylate-acrylic-pu-product-type-ife-seating-stowage-bins-galley-panels-aircraft-type-single-aisle-regional-jets-small-medium-large-wide-st-to-2021-market-report.html . Small wide body aircraft type is expected to be the fastest-growing aircraft type between 2016 and 2021, wherein aerospace interior adhesive are used. Small wide body aircrafts are mid- to large-size, long-range, and wide body twin-engine jet airliner. These aircrafts have two engines, a conventional tail, and a supercritical wing design for reduced aerodynamic drag. They have seating capacity in the range of 120 to 180. Aircrafts such as Boeing 767 and A310 are considered under this segment. They are preferred in the shorter routes and their demand is increasing in the Asia-Pacific region. The key companies profiled in this market research report are Henkel AG & Co.KGaA (Germany), Huntsman Corporation (U.S), Avery Dennison (U.S.), Arkema S.A. (France), Solvay S.A. (Belgium), Hexcel Corporation (U.S.), 3M Company (U.S.), Delo Industrial Adhesives (Germany), Master Bond Inc.(U.S.), and Permabond LLC (U.K.). Order a copy of Aerospace Interior Adhesive Market by Resin Type (Epoxy, Cyanoacrylate, Acrylic, PU), Product Type (IFE, Seating, Stowage Bins, Galley, Panels), Aircraft Type (Single Aisle, Regional Jets, Small, Medium, Large Wide Body) - Global Forecast to 2021 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=865762 . Asia-Pacific was the fastest-growing market for aerospace interior adhesives, both in terms of volume and value. The growth in Asia-Pacific was supported by high growth in air traffic. Airline passenger traffic in Asia-Pacific is expected grow by 6.2% in the next 20 years, which is considered to be high in comparison to developed regions. This rapid growth in air passenger traffic from Asia-Pacific is expected to lead to aircraft manufacturers in the region increasing their aircraft capacities by procuring new airplanes. This increased number of planes would require more adhesives, which is projected to drive the growth of the aerospace interior adhesives market. ReportsnReports.com is an online market research reports library of 500,000+ in-depth studies of over 5000 micro markets. Not limited to any one industry, ReportsnReports.com offers research studies on agriculture, energy and power, chemicals, environment, medical devices, healthcare, food and beverages, water, advanced materials and much more. For more information, please visit http://www.rnrmarketresearch.com
News Article | February 27, 2017
DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Aerospace Interior Adhesive Market by Resin Type (Epoxy, Cyanoacrylate, Acrylic, PU), Product Type (IFE, Seating, Stowage Bins, Galley, Panels), Aircraft Type (Single Aisle, Regional Jets, Small, Medium, Large Wide Body) - Global Forecast to 2021" report to their offering. The global aerospace interior adhesive market is projected to reach USD 1,101.7 million by 2021, at a CAGR of 5.35% from 2016 to 2021. The growing middle class and increasing disposable income as well as growing demand of low cost airlines are major factors expected to drive the growth of the aerospace interior adhesive market. However, stringent government regulations and stagnant growth in North America and Europe may restrain the growth of the aerospace interior adhesive market. Small wide body aircraft type is expected to be the fastest-growing aircraft type between 2016 and 2021, wherein aerospace interior adhesive are used. Small wide body aircrafts are mid- to large-size, long-range, and wide body twin-engine jet airliner. These aircrafts have two engines, a conventional tail, and a supercritical wing design for reduced aerodynamic drag. They have seating capacity in the range of 120 to 180. Aircrafts such as Boeing 767 and A310 are considered under this segment. They are preferred in the shorter routes and their demand is increasing in the Asia-Pacific region. For more information about this report visit http://www.researchandmarkets.com/research/lwdt4t/aerospace