Pebble Beach Systems Group Plc · LSE:PEB
Pebble Beach Systems — FY2022 Earnings Presentation
23 slides from Pebble Beach Systems's earnings presentation, 2022
Slide 1: Results for the year ended 31 December 2022
discovering, designing, delivering Pebble Beach Systems Group Plc Results for the year ended 31 December 2022 Peter Mayhead, CEO Paul Inzani, Head of Finance
Slide 2: Agenda
Agenda • Overview • Financial Review • Operational Review • Trading Outlook • Appendix – Case studies 2
Slide 3: Three key takeaways for today
Three key takeaways for today Focus on balancing short term performance with long term investment into next generation solutions Business growing despite macro challenges such as, Continued investment into Strong operational Ukraine war and global software development performance economic uncertaint
Slide 4: Key Performance Indicators
Key Performance Indicators Order Intake • Down 3% £11.3m FY21**: £11.6m Revenue • UP 5% £11.2m FY21: £10.6m Recurring support revenue • UP 1% £4.6m FY21: £4.6m Adjusted EBITDA* • DOWN 3.5% £3.2m FY21: £3.3m R&D expenditure • UP 19% £1.8m FY21: £1.5m Cash generated from ops • DOWN 34% £2.5m FY21: £3.
Slide 5: Operational highlights
Operational highlights International reach and operational excellence ensuring that the business is able to grow despite the challenging macro backdrop • Significant success in the Middle East across multiple customers, defending our position in this key market. • Adding PayTV channels to a customer
Slide 6: Financial review
Financial review 6
Slide 7: Income Statement
2022 2021 Variance £'000 £'000 £'000 Revenue 11,167 10,620 547 Income Statement Cost of sales Gross Profit 2,821 8,346 2,490 8,130 216 Operating expenses 5,180 4,848 ➢ Delivered results in line with market expectations, with Adjusted EBITDA 3,166 3,282 (116) revenue of £11.2 million (FY21: £10.6 mil
Slide 8: R&D Investment
R&D Investment Investment into R&D maintained at circa 18% of revenue FY 22 % of FY21 % of (£’000) Revenue (£’000) Revenue Revenue 11,167 10,620 R&D Expenses 2,055 18% 1,693 16% Less: Capitalised (1,807) 16% (1,515) 14% Add: Amortised 1,101 10% 915 9% Net R&D P&L 1,349 12% 1,093 10% 8
Slide 9: Cash flow Statement
Cash flow Statement 2022 2021 £'000 £'000 Cash generated from operations 2,511 3815 ➢ Cash balance down £0.9m on Interest paid (432) (373) Tax paid (21) (31) last year Net cash generated from operating activities 2,058 3,411 ➢ £0.4m of non-recurring items Interest received - - paid in FY22 Purchase
Slide 10: Statement of Financial Position
Statement of Financial Position 2022 2021 £'000 £'000 ➢ Increased investment in R&D, particularly Non-Current Assets Intangible Assets 3,218 3,218 new IP- based platform and products Capitalised R&D 3,089 2,383 ➢ Property, plant and equipment increase Property, plant & equipment 609 349 6,916 5,950
Slide 11: Operational Review
Operational Review Supporting the transition to IP 11
Slide 12: Market Leading Capabilities
Market Leading Capabilities Tier 1 Discovering. Designing. Delivering. Playout Tier 2 Automation Bespoke solution crafted for individual customer workflows Tier 1 Scalable from a single channel to hundreds Integrated Channel of services across multiple locations Tier 1& 2 Web-based management and mo
Slide 13: Trading highlights
Trading highlights Significant project wins across the globe Middle East Europe • £0.9m order with a premium French • £0.5m from two orders for upgrades to broadcaster to upgrade the system for existing systems for customers who have 20 channels. belief in our technology vision. • £0.7m with a natio
Slide 14: Drivers of SDI to IP
Drivers of SDI to IP ….and the opportunity this presents us NEXT GENERATION SOLUTION 1) Future proof our customers’ existing systems whilst being able to benefit from newer IP and cloud- Need to move away from the expensive, enabled developments cumbersome, fixed SDI network infrastructures "To supp
Slide 15: Supporting the transition to IP
Supporting the transition to IP Pebble's hybrid solution • Aim – To deliver the confidence of on-premises systems whilst adding the flexibility of the cloud • Combine Pebble technology to deliver channels hosted both on-premises and in public cloud • HD and UHD channels • Single control interface re
Slide 16: Oceans
Oceans Next Generation Media Platform – Current status Oceans Automation: Cloud-native playout solution Ongoing software Media Processing Engine: Software solution for video playout capability development Pebble control: IP control tool 16
Slide 17: Current Trading & Outlook
Current Trading & Outlook • A robust performance in 2022 and strong pipeline gives the Board confidence ahead of 2023 • Continued investment in technology focussed on delivering IP based cloud native products • Encouraging performance in 1st quarter 1 2 3 4 • Strong H1 • Weighted • Strong H2 • Retur
Slide 18: Questions?
Questions? a: 12 Horizon Business Village, 1 Brooklands Rd, Weybridge, Surrey, KT13 OTS t: 01932333790 | e: info@pebbletv | w: wwwpebbletv
Slide 19: Appendix: Case studies
\ / Appendix | Case studies |
Slide 20: Virtualised playout for a large European service provider
SUCCESSFULLY IMPLEMENTING & HYBRID PLAYOUT INFRASTRUCTURE Virtualised playout for a large European service provider This customer made the decision to move out of their specialist broadcast facility into a standard office building and to host the playout of around 90 channels ina remote data centre.
Slide 21: Hybrid SDI and IP playout for a worldwide news network
pebble Hybrid SDI and IP playout for a major SUCCESSFULLY IMPLEMENTING A HYBRID PLAYOUT INFRASTRUCTURE worldwide business and finance news network This customer was moving to a new Location in the heart of London, presenting an opportunity to refresh their broadcast infrastructure and showcase the l
Slide 22: Business continuity operation in the private cloud
PEDDULS: | smseaterides sian diene aia dtninicnaleObiaaiebsinatan TS Business continuity operation for Fully synchronised disaster recovery in the private cloud An existing Pebble customer came to us with a requirement to set up an IP-based Disaster Recovery system outside their base in the Middle E
Slide 23: Playout for the largest uncompressed IP project in Europe
pebble: || siceseenehwensalce davai dali angele Playout for the largest uncompressed IP project in Europe Pebble was awarded the contract for this new greenfield site where the broadcaster is building an all-IP facility utilising ST 2110 technology to its Full potential, splitting up video/audio/aux
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