The Pebble Group PLC Announces Trading Update and Notice of Results

Rhea-AI Summary

The Pebble Group reports that the group's results for the year ending December 31, 2023, are expected to be in line with current market expectations. Group revenue is expected to be around £124m, generating Adjusted EBITDA of approximately £16m. Cash generation was slightly ahead of expectations, with Group net cash at £15.9m. Facilisgroup is delivering highly attractive profit margins, with EBITDA margins expected to be at around 50% for FY 23. Brand Addition revenue is expected to be approximately £106m, with increased gross margins compared to 2022. Both businesses remain strong financially, with a robust balance sheet and a clear strategic plan.

Positive

• None.

Negative

• Decrease in revenue for Brand Addition compared to FY 22

Trading Update and Notice of Results

MANCHESTER, UK / ACCESSWIRE / January 18, 2024 / 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 Chris Lee, Chief Executive Officer Claire Thomson, Chief Financial Officer +44 (0) 750 012 4121	Temple Bar Advisory (Financial PR) Alex Child-Villiers Sam Livingstone +44 (0) 207 183 1190 pebble@templebaradvisory.com
Grant Thornton UK LLP (Nominated Adviser) Samantha Harrison / Harrison Clarke / Ciara Donnelly +44 (0) 207 184 4384	Berenberg (Corporate Broker) Ben Wright / Marie Moy / Mollie D'Arcy Rice +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.

This information is provided by RNS, the news service of the 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.

SOURCE: The Pebble Group PLC

View the original press release on accesswire.com

FAQ

What are The Pebble Group's expected revenues for FY 23?

The Pebble Group expects its group revenue to be around £124m for FY 23.

What is the expected Adjusted EBITDA for The Pebble Group for FY 23?

The Pebble Group anticipates generating Adjusted EBITDA of approximately £16m for FY 23.

What is the expected net cash for The Pebble Group at the end of December 2023?

The Pebble Group's net cash (excluding IFRS 16 liabilities) at the end of December 2023 is expected to be £15.9m.

What are the expected EBITDA margins for Facilisgroup for FY 23?

Facilisgroup is expected to have EBITDA margins at around 50% for FY 23.

What is the expected revenue for Brand Addition for FY 23?

Brand Addition's revenue is expected to be approximately £106m for FY 23.

What are the major financial highlights for The Pebble Group in the PR?

The major financial highlights include expected group revenue of around £124m, Adjusted EBITDA of approximately £16m, and net cash of £15.9m at the end of December 2023.