Pebble Beach Systems Group PLC Trading Update (3547B)
30 1월 2020 - 4:00PM
UK Regulatory
TIDMPEB
RNS Number : 3547B
Pebble Beach Systems Group PLC
30 January 2020
Trading Statement
30 January 2020
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 content management solutions for the
broadcast and streaming service markets, is pleased to provide the
following trading update for the year ended 31 December 2019.
The Group expects to report results for the full year 2019 in
line with management expectations, with revenue of approximately
GBP11.2m (FY18: GBP9.2m) and adjusted* EBITDA once again improved,
increasing by approximately 25% to c. GBP3.5m (FY18: GBP2.5m).
The improved trading performance has delivered good operating
cash generation helping net debt which has been reduced further to
GBP8.4m as of 31 December 2019 (FY18: GBP9.4m FY17: GBP10.3).
Management expects this trend to continue in 2020.
2019 has been another excellent year for the business with one
particular highlight being the securing of an order in excess of
GBP600,000 from London-based IMG Studios. IMG had been contracted
by Amazon Prime Video to provide playout services for the high
profile live coverage of 20 premiership matches during December.
The solution included Pebble's UHD-capable playout servers and
control software for automated ad-insertion, and was delivered and
commissioned during the autumn of 2019 ready for testing prior to
the 3rd December deadline.
Going into 2020 the Group are continuing to deliver against the
turn-around plan put in place in 2018. We therefore expect to build
on the strong market position we have established and will continue
to invest in our product suite and solutions. Pebble Beach Systems
has a world class product suite and an outstanding client roster
that includes the majority of the world's leading broadcasters. Our
automated and intelligent platform enables multichannel
distribution and transmission in 70 countries worldwide. We are
unique in our field and have the capability and opportunity to
scale.
The Board is excited about our future and looks forward to
providing a further update in our audited results for the year
ended 31 December 2019 which will be announced in late March
2020.
John Varney, Non-Executive Chairman, commented:
"The efforts of the executive team and staff over the last two
years have delivered a stronger, more dynamic company that now has
a proven track record in delivering its strategy. We are excited by
the opportunities being presented in 2020 as the broadcast industry
continues to transition to IP and cloud-based workflows."
*Adjusted EBITDA, a non-GAAP measure, is profit before
depreciation, the amortisation and impairment of goodwill and
acquired intangibles, the amortisation of capitalised development
costs, non-recurring items and foreign exchange gains.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
For further information please contact:
+44 (0) 75 55 59
36 02
Peter Mayhead- Chief Executive +44 (0) 1256 962
Dominic Del Mar- Investor Relations 978
finnCap (Nominated Adviser and Broker)
Marc Milmo / Hannah Boros - Corporate
Finance +44 (0) 207 220 0500
Tim Redfern / Sunila de Silva -
ECM
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London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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