Introductions
Peter Mayhead | David Dewhurst |
Chief Executive Officer of Pebble Beach Systems PLC
Joined Pebble in 2013
Over 20 years of broadcast industry experience Masters in Business Administration
Fellow of the ACCA
Chief Financial Officer of Pebble Beach Systems PLC
Joined Pebble in 2020
Over 14 years experience at an AIM-listed digital marketing company
International experience in growing business both2 organically and by acquisition
Bachelor of Commerce (Hons)
Chartered Accountant (ICAEW)
Highlights
2020 has allowed us to demonstrate our strength and resilience
Covid 19
- Impacted short term order intake but pipeline continues to grow
- Did not need to furlough staff
- Did not need to reduce headcount
- Did not need to borrow
Permanent shift to
remote working
- Forced shift to remote working simply accelerated our plans
- Now better able to access global engineering talent
- Cultural lead management system already in place
Business
fundamentals remain
strong
- EBITDA above 30%
- Long-termbank debt reduced £1m
- Q1'21 order intake up 86% compared to same period 2020
Technology
development on plan
- Award winning Oceans platform released to market
- New Pebble control software application released to market
- Roadmap of future developments well under way
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Financial results
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Key Performance Indicators
- Order Intake £7.8m in 2020 v £10.3m in 2019
• Revenue | £8.4m in 2020 v £11.2m in 2019 |
- Adjusted EBITDA £2.7m in 2020 v £3.8m in 2019
- Adj EBITDA % 32% in 2020 v 34% in 2019
Customer delays; £1.5m relating to 2 orders expected in 2020 but arrived in Q1 2021
Support revenue grew by 10% to £4m v £3.6m in 2019
Operating cost savings; reduced travel and no trade shows
Maintained EBITDA margin above our 30% target
• | R&D expenditure 21% of revenue in 2020 v 13% in 2019 | Achieved planned development of new technology solutions | |
• | Cash generated from ops | £2.5m in 2020 v £2.4m in 2019 | 93% conversion of adjusted EBITDA in 2020 v 64% last year |
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Disclaimer
Pebble Beach Systems Group plc published this content on 30 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2021 14:35:02 UTC.