REG - Pebble Beach Sys Grp - Trading Update

Pebble Beach SystemsAnnouncement

24/07/2025 07:00

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RNS Number : 3102S  Pebble Beach Systems Group PLC  24 July 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR") AND IS DISCLOSED
IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.

 

 

Pebble Beach Systems Group plc

 

Trading Update

 

 

Pebble Beach Systems Group plc (AIM: "PEB", "Pebble" or the "Group"), a
leading global software business specialising in playout automation and
integrated channel solutions for the broadcast and streaming markets, is
pleased to provide the following trading update for the half-year ended 30
June 2025 (the "Period").

In January 2025, the Group announced strategic plans to focus on existing core
capabilities as a broadcast solutions specialist, including a significant
reduction in overhead and R&D costs under a process which commenced and
concluded in H1 25. The Board is pleased to report that the revised strategy
has delivered the intended step change in profitability and Pebble now expect
FY 25 and FY 26 profitability to be materially ahead of market guidance(1).

The Group generated strong order intake during the Period, with orders of
£6.5m (H1 24: £4.9m), underpinned by strong SLA renewal orders, providing
good visibility of future years' revenues.

The Group expects to report increased revenues of c.£5.9m for the Period (H1
24: £5.3m) driven by the timing of project order intake and the continued
growth in SLA revenue. Revenues in the Period comprised project revenues of
c.£2.6m (H1 24: £2.2m) and recurring support revenue of c.£3.3 million (H1
24: £3.1m), both up year on year.

The strong revenue performance and reduction in overheads mentioned above,
means the Group expects to report adjusted EBITDA(2) of c.£2.0m (H1 24:
£1.4m), with an improved adjusted EBITDA margin of 34% (H1 24: 27%)
reflecting the reduction in costs as a result of the Group's revised strategy.

At 30 June 2025 net debt was £3.3m (H1 24: £4.8m) with bank debt continuing
to be paid down from the Group's improving operating cash flows. Following the
strategic amendments announced in January 2025, the Group has greater
certainty of cashflows and re-iterates the expectation of delivering
annualised cash savings of c.£2.0m, with an expectation of moving to a net
cash position during 2026.

The Group entered H2 25 with a strong order book giving the Board confidence
in delivering profitability materially ahead of market expectations(1) for FY
25 and into FY 26. Strong cash generation is expected to provide flexibility
and options for accelerated pay down bank debt, M&A investment, adding
technology product offerings, and potentially paving the way for improving
shareholder returns.

The Group expects to announce results for the half-year ended 30 June 2025 in
August 2025.

1 The Board believes that the current estimates for the year ending 31
December 2025 and the year ending 31 December 2026  is revenue of £11.5
million and adjusted EBITDA of £3.5 million.

2 Adjusted EBITDA (earnings before interest, tax, depreciation and
amortisation) a non-GAAP measure, is EBITDA before non-recurring items and
foreign exchange gains/losses.

For further information please contact:

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

Paul Inzani - Head of Finance

 Cavendish Capital Markets Limited (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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