REG - Pebble Group (The) - Trading Update and Notice of Results

PebbleAnnouncement

18/01/2024 07:00

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RNS Number : 0764A  Pebble Group PLC (The)  18 January 2024

18 January 2024

THE PEBBLE GROUP PLC

("The Pebble Group" or the "Group")

 

Trading Update and Notice of Results

 

The Board of The Pebble Group, a leading provider of technology, services and
products to the global promotional products industry, announces that the
Group's results for the year ending 31 December 2023 ("FY 23"), which will be
published on Tuesday 19 March 2024, are expected to be in line with current
market expectations following the Trading Update made on 22 November 2023.

Group revenue will be circa £124m (FY 22: £134.0m), which is expected to
generate Adjusted EBITDA at circa £16m (FY 22: £18.0m).

Cash generation was slightly ahead of expectations, with Group net cash
(excluding IFRS 16 liabilities) at 31 December 2023 of £15.9m (31 December
2022: £15.1m).

Facilisgroup has continued to deliver highly attractive profit margins with
EBITDA margins expected to be at circa 50% for FY 23 and revenue expected to
be over USD22m (FY 22: USD20.4m).

Brand Addition revenue is expected to be circa £106m (FY 22: £117.4m)
delivered on increased gross margins compared to 2022. This decrease in
revenue has been driven principally by the spend of our Technology and
Consumer clients, whilst revenue from our Engineering and Transport sector
clients has been more robust. Client retention continues to be high.

Both of our businesses remain strong financially, are differentiated within
their respective markets and have a clear strategic plan. Our balance sheet is
robust and we will update stakeholders on the start of 2024 trading alongside
the announcement of our FY 23 Final Results.

 

Enquiries:

 

 The Pebble Group                                       Temple Bar Advisory (Financial PR)

 Chris Lee, Chief Executive Officer                     Alex Child-Villiers

 Claire Thomson, Chief Financial Officer                Sam Livingstone

 +44 (0) 750 012 4121                                   +44 (0) 207 183 1190

                                                        pebble@templebaradvisory.com (mailto:pebble@templebaradvisory.com)

 Grant Thornton UK LLP (Nominated Adviser)              Berenberg (Corporate Broker)

 Samantha Harrison / Harrison Clarke / Ciara Donnelly   Ben Wright / Marie Moy / Mollie D'Arcy Rice

 +44 (0) 207 184 4384                                   +44 (0) 203 207 7800

 

About The Pebble Group

 

The Pebble Group is a provider of digital commerce, products and related
services to the global promotional products industry, comprising two
differentiated businesses, Facilisgroup and Brand Addition, focused on
specific areas of the promotional products market. For further information,
please visit www.thepebblegroup.com (http://www.thepebblegroup.com/) .

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