Pebble Group Plc · LSE:PEBB
Pebble — The Pebble Group — HY 2025 Earnings Presentation
42 slides from Pebble's earnings presentation, Sep 9, 2025
Slide 1: Half Year Results 2025
Half Year Results 2025 9 September 2025 Building brands. Growing relationships. Strengthening businesses.
Slide 2: Contents
Contents Industry overview and Group positioning 3 Investment highlights 5 HY 25 Financials 6 Facilisgroup 13 Brand Addition 18 ESG 24 Outlook 27 Appendix 28 Chris Claire Lee Thomson CEO CFO The Pebble Group HY 25 2
Slide 3: Why are promotional products used?
Introduction Why are promotional products used? Businesses of all sizes, sectors and geographies use products, branded with their name or key message. They are used to build culture, brand awareness and meaningful connections with stakeholders, be they existing or potential clients, employees or sup
Slide 4: Market Opportunity
Introduction Market Opportunity GLOBAL INDUSTRY Businesses of all sizes, sectors and geographies use c.$50bn products, branded with their name or key message The fragmented North American market is c.$25bn of this total VISIBILITY OF SALES OF Providing industry leading technology, products PROMOTION
Slide 5: Investment case
Investment case Building brands. Growing relationships. Strengthening businesses. Client/Partner Market leading Significant Creating value Focussed opportunity to scale A compelling proposition Differentiated businesses Established international Highly cash generative, with clients and Partners at l
Slide 6: HY Results Highlights
HY 25 Results Highlights Partner YoY increase in Partner NPS Top 30 client YTD new Client NPS retention Partner wins score retention client wins score New business and excellent client retention is building 97% +50% 48 100% 7 52 market share in a challenging economic backdrop Investment in our team
Slide 7: HY 25 KPIs
HY 25, KPIs Cash generation supporting op ex investment to accelerate new Partner wins and capital returns Revenue Gross margin % Adjusted EBITDA1 Net cash2 Capital returns £58.6m 45.1% £6.2m £6.0m £11.7m -3.6% +0.4ppt -16.2% +£1.1m +£8.3m £11.7m £6.5m Aug 2025 £7.4m £6.0m £60.8m 44.7% 45.1% £58.6m
Slide 8: One Group, different business models
One Group, different business models Commentary Adj EBITDA (pre-HO costs) FG EBITDA Gross profit £7.6m £3.8m Brand Addition dominates group FG Revenue Revenue £26.4m revenues through its products and £8.6m £58.6m BA EBITDA services model £3.8m FG People and overheads £4.8m Excellent returns at Facil
Slide 9: Income Statement
HY 25 Income Statement £’m HY 25 HY 24 FY 24 Robust revenue where softening of existing client spend in Brand Addition due to Revenue £ Revenue 58.6 60.8 125.3 -3.6 macro-economic headwinds has been Gross profit 26.4 27.2 55.5 countered by new contract wins % People & overhead (18.8) (18.4) (35.9) D
Slide 10: Balance Sheet
HY 25 Balance Sheet Goodwill and intangibles: £42.5m, Software: £16.8m, PPE: £6.0m, £’m HY 25 HY 24 FY 24 Deferred Tax asset £0.5m Non-current assets 65.8 69.1 69.2 Brand Addition, inventory for short turn Balance Sheet Inventories 16.3 15.5 12.1 around orders underwritten in client contracts suppor
Slide 11: Cash Flow
HY 25 Cash Flow £’m HY 25 HY 24 FY 24 Capital expenditure Adjusted EBITDA 6.2 7.4 16.7 reduction Predominately Brand Addition, movement £1.4 in line with usual cycle Movement in working capital (7.2) (9.4) (1.2) m Capital expenditure (2.3) (3.7) (6.8) Leases (0.8) (0.8) (1.7) Capital expenditure tre
Slide 12: Strong cash generation for organic growth investment and returns to shareholders
Principles of cash utilisation Strong cash generation for organic growth investment and returns to shareholders ONGOING: Balance Sheet strength, working capital, capital expenditure Returns to shareholders increasing CAPITAL ALLOCATION CHOICES 1. 2. 3. 4. Accelerating Dividend Capital returns Other
Slide 13: Facilisgroup
Half Year Results 2025 Visit facilisgroup.com to learn more 13 13
Slide 14: Introduction: Facilisgroup
Introduction: Facilisgroup Facilisgroup is the strategic OUR BUSINESS: partner that brings together powerful technology, proven ü 360° Promo processes, supply chain Platform advantages, and a connected ü Market community, empowering Network promotional product distributors to scale efficiently and g
Slide 15: Key financial and operational metrics
Results Summary Key financial and operational metrics ⬤ H2 ⬤ H1 Revenue EBITDA Retention and margins USD’m USD’m 9.7 10.8 10.9 11.3 11.2 11.3 11.2 6.2 6.4 5.7 5.8 97 Underlying % 44 EBITDA margin % 7.8 9.6 5.3 5.4 4.9 retention rate HY 25 4.2 4.6 FY 21 FY 22 FY 23 FY 24 HY 25 FY 21 FY 22 FY 23 FY 24
Slide 16: Encouraging momentum in new Partner wins
Pursuing organic growth at Facilisgroup Encouraging momentum Focus on continuing in new Partner wins momentum +50% 18 16 Excellent return on investment into operating expenses improving 14 leadership, team and processes for 12 growth As evidence builds, further 8 investment will be considered Total
Slide 17: Focus in 2025, accelerating momentum
Strategies Focus in 2025, accelerating momentum 1. 2. 3. Engagement: Technology: Market leadership: Engage our community Demonstrate a leadership Retain market leading through building long-term position in technology that position through the relationships and creates business growth delivery of co
Slide 18: Brand Addition
Half Year Results 2025 Visit brandaddition.com to learn more 18 18
Slide 19: Introduction: Brand Addition
Introduction: Brand Addition Brand Addition is an end-to-end branded merchandise provider that enables companies of scale to build meaningful connections with their customers, employees and communities OUR SERVICES ACHIEVEMENTS Ecovadis Gold Global Infrastructure Top 5% of • Creative Services busine
Slide 20: Key financial and operational metrics
Results Summary Key financial and operational metrics ⬤ H2 ⬤ H1 Revenue Gross profit margins EBITDA £’m % £’m 35% Guidance 35.2 35.6 64 52 56 34.1 7.1 61 6.2 30.7 5.0 28.6 7.4 41 53 54 52 50 4.4 4.5 4.6 3.8 2.5 FY 21 FY 22 FY 23 FY 24 HY 25 FY 21 FY 22 FY 23 FY 24 HY 25 FY 21 FY 22 FY 23 FY 24 HY 25
Slide 21: New contract wins partially offsetting softening in some existing client spend
Revenue bridge, HY 24 compared to HY 25 New contract wins partially offsetting softening in some existing client spend HY 24 compared to HY 25 Top 30 client retention 100 Revenue £’m % 1 2 -4.6 1 Existing cohort of clients showing a +2.7 net revenue reduction, principally from challenging economic b
Slide 22: Current sales activity guiding our FY 25 revenue expectation
Revenue bridge, expectation from HY 25 to FY 25 Current sales activity guiding our FY 25 revenue expectation Expectation from HY 25 to FY 25 Robust performance Revenue against a challenging £’m Additional FY 25 orders 1 background 2 3 invoiced or received 1 2 Existing clients and increasing 32.3 spe
Slide 23: Focus in 2025, accelerating momentum
Strategies Focus in 2025, accelerating momentum 1. 2. 3. Retention: New client attraction: Financial discipline: Build long-term trust and Attract new client contracts Aim for +5% organic relationships with clients to with major international revenue growth on stable provide a sound foundation brand
Slide 24: ESG Update
Half Year Results 2025 ESG Update The Pebble Group HY 25 24 24
Slide 25: Enhancing ESG – building on robust foundations
Enhancing ESG – building on robust foundations Our approach Our four ESG Cornerstones ESG activities embedded across the Group, guided by our four ESG cornerstones Transparent and consistent reporting on ESG performance and progress Advancing sustainability Empowering our people Robust governance fr
Slide 26: Sustainable product development and support
Sustainable product development and support Sustainable product development, range reviews and evaluations to promote brand awareness through carefully selected sustainable products Responsibly sourced products, through a validated value chain Regular engagement through community events and supplier
Slide 27: Group Outlook, 2025
Group Outlook, 2025 The Board expects FY 25 Group results to be in line with market expectations. This is based on our latest assessment that sales activity from existing and new clients at Brand Addition, through the remainder of 2025, will deliver total FY 25 revenues in line with prior year, alon
Slide 28: Appendix
Half Year Results 2025 Appendix Facilisgroup 29 Brand Addition 35 Financial information 39 The Pebble Group HY 25 28
Slide 29: Appendix
Half Year Results 2025 Appendix The Pebble Group HY 25 29 29
Slide 30: 360° Promo Platform and Partnership for high-volume Distributors
Market structure and our positioning 360° Promo Platform and Partnership for high-volume Our focus: Distributors c.$8bn 1. Core market (GMV: $2m-20m) 1,600 $5.0m Winning market share of distributors with similar profiles to our existing Partners, through advancing technology, effective utilisation o
Slide 31: Why distributors and suppliers choose Facilisgroup
Why distributors and suppliers choose Facilisgroup Power to process Processes to scale Partnership to grow Distributor Efficient order processing time, high margins, and healthy cash flow needs & outcomes Enabling distributors to scale operations strategically and grow revenues Facilisgroup credenti
Slide 32: Growth in Partner numbers due to accelerating wins and high, stable retention
Partner number bridge FY 24 and YTD 25 Growth in Partner numbers due to accelerating wins and high, stable retention FY 24 and YTD 25 New Partner wins 1 Partners bridge - A typical Partner delivers a strong lifetime value # - We are experiencing an encouraging year-on- year acceleration in new wins
Slide 33: Segmental Analysis, home currency USD
HY 25 Segmental Analysis, home currency USD $’m HY 25 HY 24 FY 24 Commentary Recurring Revenue 10.7 10.7 21.6 Level compared to HY 24 as like-for-like Other Revenue 0.5 0.6 0.9 Partner GMV and the total number of Partners Total Revenue 11.2 11.3 22.5 in 2024 were flat People & overhead (6.3) (5.9) (
Slide 34: Segmental Analysis, reporting currency GBP
HY 25 Segmental Analysis, reporting currency GBP £’m HY 25 HY 24 FY 24 Commentary Recurring Revenue 8.3 8.5 16.9 Level compared to HY 24 as like-for-like Other Revenue 0.3 0.4 0.7 Partner GMV and the total number of Partners Total Revenue 8.6 8.9 17.6 in 2024 were flat People & overhead (4.8) (4.7)
Slide 35: Appendix
Half Year Results 2025 Appendix The Pebble Group HY 25 35 35
Slide 36: Delivering best in class branded merchandise for the world’s biggest brands
Market structure and our positioning Delivering best in class branded merchandise for the world’s biggest brands c.70 existing client Companies 800 most targeted Companies Estimated +$4bn addressable market Within the c.$50bn global industry, we estimate the addressable market for Brand Addition to
Slide 37: Why brands choose Brand Addition
Why brands choose Brand Addition Resonant Product and Infrastructure and Trust and Creative Excellence Global Reach Compliance Large corporate End-to-end management of complex global programs, with sustainable product that drives needs business results, sourced and managed in a compliant, responsibl
Slide 38: Segmental Analysis
HY 25 Segmental Analysis £’m HY 25 HY 24 FY 24 Commentary Revenue 50.0 51.9 107.7 Strong revenue performance has been maintained despite a decline in spending from Gross profit 17.8 18.3 37.9 existing clients caused by macroeconomic People & overhead (14.0) (13.7) (27.1) challenges, thanks to the ac
Slide 39: Financial Information
Half Year Results 2025 Financial Information Financial Guidance 40 Balance sheet breakdown 41 The Pebble Group HY 25 39
Slide 40: Financial Guidance
Financial Guidance CAPITAL EXPENDITURE: CURRENCY RATES: (excluding amounts capitalised under IFRS 16) Actual Actual Actual Est Actual Actual Est £m 2023 2024 2025 £:US$ 2022 2023 2024 2025 Tangible 0.9 0.2 0.7 Income Statement (average rate) 1.24 1.24 1.28 1.35 Intangible 7.6 6.6 5.0 Balance Sheet (
Slide 41: Balance sheet breakdown by business
HY 25 Balance sheet breakdown by business BA Assets BA Liabilities Group working capital dominated by Brand Addition with its high- quality Inventories and Trade receivables underwritten by our clients BA BA Trade and other payables Leases FG Assets FG Trade and other FG payables Leases Central asse
Slide 42: Building brands. Growing relationships. Strengthening businesses.
Building brands. Growing relationships. Strengthening businesses. The Pebble Group HY 25 42