REG - Pebble Beach Sys Grp - Trading Update and Notice of Half-Year Results

Pebble Beach SystemsAnnouncement

02/08/2022 07:00

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RNS Number : 5070U  Pebble Beach Systems Group PLC  02 August 2022

 

Pebble Beach Systems Group plc

 

Trading Update

 

and

 

Notice of Half-Year Results

 

Pebble Beach Systems Group plc (AIM: "PEB", "Pebble" or the "Group"), a
leading global software business specialising in playout automation and
content management solutions for the broadcast and streaming service markets,
is pleased to provide the following trading update for the half-year ended 30
June 2022.

The Group expects to report modest growth in revenue of 3% on the comparative
period of 2021. In addition, the level of orders, when compared with H1 21
orders after adjusting for Covid-related delays that benefitted that period,
were also modestly up. There are still challenges in the supply of certain
hardware components both in timing of availability and cost that impacted the
timing of delivery and will continue to lead to some delivery delays. We
continue to mitigate this with measured inventory build.

The business environment is opening up again with trade shows and travel a
welcome feature of the first half of the year. We also continued to add
headcount allowing us to remain focussed on the development of our next
generation, cloud-native solutions in line with our mission to support
broadcasters as they transition from traditional broadcast infrastructure to
more flexible IP-based technologies. The increased expenditure was part of our
plan and consequently there has been a reduction in our adjusted EBITDA margin
in H1 22 to 26%, compared with the same period last year (H1 21: 35%).

As with last year, the Board expects the year to be second half weighted in
terms of revenue and we also expect the adjusted EBITDA margin to return to
more normalised levels, targeting 30% margin in the second half, both of which
will have a corresponding benefit to adjusted EBITDA. The forward order book
and pipeline gives us confidence that we will deliver improved revenue
performance during the second half of the year and achieve market expectations
for the full year.

The results for the half-year ended 30 June 2022 will be announced in early
September 2022.

 

For further information please contact:

 Peter Mayhead- CEO                              +44 (0) 75 55 59 36 02

 David Dewhurst - CFO

 finnCap Ltd (Nominated Adviser and Broker)      +44 (0) 207 220 0500

 Marc Milmo / Teddy Whiley - Corporate Finance

 Tim Redfern / Sunila de Silva - ECM

 

 

The Company is listed on the LSE AIM market (PEB.L).  More information can be
found at www.pebbleplc.com (http://www.pebbleplc.com/) .

 

 

 

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