Pebble Group Plc · LSE:PEBB
Pebble — The Pebble Group — FY2025 Earnings Presentation
37 slides from Pebble's earnings presentation, Mar 17, 2026
Slide 1: Building brands. Growing relationships. Strengthening businesses. Full Year Results 2025
Building brands. Growing relationships. Strengthening businesses. Full Year Results 2025 17 March 2026
Slide 2: Agenda
AGENDA Welcome Contents Industry overview and Group positioning 3 Investment highlights 5 FY 25 Financials 6 Facilisgroup 13 Brand Addition 21 ESG 27 Outlook 30 Chris Lee Claire Thomson CEO CFO Appendix 31 The Pebble Group FY 25 2
Slide 3: Why are promotional products used?
INTRODUCTION Why are promotional products used? Businesses across sectors and geographies use branded products to express their identity, values and messages. When strategically applied, these tangible touchpoints help build culture, strengthen brand awareness and foster meaningful connections with
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 PROMOTIONA
Slide 5: Investment case
INTRODUCTION Investment case Client/Partner Market Significant Creating focussed leading opportunity to scale value A compelling proposition Differentiated businesses Established international scale Highly cash-generative, with clients and Partners at leading through in a large and fragmented fundin
Slide 6: Highlights
FY 25 RESULTS Highlights Partner FY 25 new Partner NPS Top 30 client FY 25 new Client NPS retention Partner wins score retention client wins score 97% 30 50 97% 8 59 £11.7m (FY 24: £3.4m) capital returns to shareholders FY 24: 96% FY 24: 16 FY 24: 35 FY 24: 100% FY 24: 3 FY 24: 50 Improvement in fre
Slide 7: Increasing margins with cash generation funding growth and capital returns
FY 25, KPIs Increasing margins with cash generation funding growth and capital returns Revenue Gross margin % Adjusted EBITDA1 Free cash flow conversion2 Capital returns3 £124.7m 45.6% £15.8m 91% £11.7m -0.5% +1.3ppt -5.4% +23ppt +£8.3m £11.7m £125.3m 91% 45.6% 44.3% £124.7m £16.7m £15.8m 68% £3.4m
Slide 8: Diversified earnings, complementary strengths
Diversified earnings, complementary strengths Commentary Adj EBITDA (pre-HO costs) FG EBITDA Gross profit £18.7m £7.3m Brand Addition dominates Group FG Revenue Revenue £56.9m revenues through its products and £17.2m £124.7m BA EBITDA services model £11.4m FG People and overheads £9.9m Excellent ret
Slide 9: Income Statement
FY 25 Income Statement £’m FY 25 FY 24 Revenue Improving gross Revenue 124.7 125.3 Revenue in line with FY 24 where softening of margin and Gross profit 56.9 55.5 existing client spend in Brand Addition has been countered by new contract wins investing for People & overhead (38.2) (35.9) growth Adju
Slide 10: Balance sheet
FY 25 Balance sheet £’m FY 25 FY 24 Supporting Non-current assets 64.2 69.2 Non-current assets Goodwill and intangibles: £42.4m, Software: organic growth Inventories 11.1 12.1 £16.3m, PPE: £5.5m, investment and Trade & other receivables 32.8 30.7 Inventories capital returns Current tax asset 0.8 - B
Slide 11: Cash flow
FY 25 Cash flow £’m FY 25 FY 24 Increasing free Adjusted EBITDA 15.8 16.7 Movement in working capital Predominately Brand Addition, movement in line cash flow Movement in working capital (1.7) (1.2) with usual cycle conversion Capital expenditure (4.9) (6.8) Capital expenditure Capital expenditure s
Slide 12: Cash generation funding growth and capital returns
PRINCIPLES OF CASH UTILISATION Cash generation funding growth and capital returns ONGOING: Increasing confidence in the investment for profitable growth. Balance sheet strength. Shareholder returns Returns to shareholders increased CAPITAL ALLOCATION CHOICES 1. 2. 3. 4. Accelerating Dividend +50% Ca
Slide 13: Facilisgroup
FULL YEAR RESULTS 2025 Our empower initiative, developing women leaders, deepening community engagement, and reinforcing our commitment to an inclusive, future-ready organisation Visit facilisgroup.com to learn more 13 13
Slide 14: Facilisgroup introduction
INTRODUCTION: FACILISGROUP Facilisgroup is the strategic partner that OUR BUSINESS: brings together powerful technology, ü 360° Promo proven processes, supply chain advantages, and a connected community, Platform empowering promotional product ü Market distributors to scale efficiently and grow Netw
Slide 15: Key financial and operational metrics
RESULTS SUMMARY Key financial and operational metrics Revenue Adjusted EBITDA Retention and margins USD’m USD’m 17.5 20.4 22.2 22.5 22.6 10.4 11.0 11.0 11.2 9.6 97 Underlying % 42 % EBITDA margin FY 25 retention rate FY 21 FY 22 FY 23 FY 24 FY 25 FY 21 FY 22 FY 23 FY 24 FY 25 Partners GMV Preferred
Slide 16: Reinvesting into revenue growth to drive enterprise value
RESULTS SUMMARY Reinvesting into revenue growth to drive enterprise value Revenue 1 Adjusted EBITDA 2 USD’m USD’m Completed the steps to return to 22.2 22.5 22.6 10.4 11.0 11.0 11.2 20.4 9.6 17.5 FY 21 FY 22 FY 23 FY 24 FY 25 FY 21 FY 22 FY 23 FY 24 FY 25 revenue growth 1 Aim: Return to Revenue Grow
Slide 17: Healthy LTV / CAC components
PURSUING ORGANIC GROWTH AT FACILISGROUP Healthy LTV / CAC components Strong LTV and CAC is leading our decision on investment in revenue growth Lifetime Value (LTV) Partner (customer) Acquisition Cost (CAC) High LTV created from: Growing confidence in repeatability of CAC: + 2-sided income model Par
Slide 18: Growth in Partner numbers
PARTNER NUMBER BRIDGE FY 24 AND FY 25 Growth in Partner numbers Accelerating wins on a high, stable retention rate FY 24 and FY 25 Partners bridge New Partner wins # FY 25 +16 +30 -16 +88% -19 As evidence builds, further 253 investment will be considered 242 239 2024 2025 Total churn reduced by 16%
Slide 19: Growth investment governed by strength of LTV / CAC evidence
PARTNER NUMBER BRIDGE FY 24 AND FY 25 Growth investment governed by strength of LTV / CAC evidence High LTV / CAC • We are investing in profitable growth, measured by a healthy $7.0m LTV: Incremental wins LTV to CAC ratio, to maximize 14 Partners the business’s long-term cash (FY 25: 30 – FY 24: 16)
Slide 20: Focus in 2026, accelerating momentum
STRATEGIES Focus in 2026, accelerating momentum 1. 2. 3. Engagement: Technology: Revenue growth: Engage our community Continue to demonstrate Maintain high retention through valuing long-term the leadership position in levels and attract a growing relationships and embracing technology that creates
Slide 21: Brand Addition
FULL YEAR RESULTS 2025 Visit brandaddition.com to learn more 21 21
Slide 22: Brand Addition introduction
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 97% Top 30 client Global Infrastructure retention • Creative Services En
Slide 23: Key financial and operational metrics
RESULTS SUMMARY Key financial and operational metrics Revenue Gross profit margins Adjusted EBITDA £’m % 36% £’m Guidance 37.0 34.1 35.2 117 108 108 30.7 102 106 28.6 11.5 10.8 11.4 9.9 9.5 FY 21 FY 22 FY 23 FY 24 FY 25 FY 21 FY 22 FY 23 FY 24 FY 25 FY 21 FY 22 FY 23 FY 24 FY 25 Revenue by client se
Slide 24: Margin improvement and cost control
EBITDA BRIDGE, FY 25 Margin improvement and cost control, increasing profitability in a turbulent environment FY 25 Margin increase Top 30 client retention +1.8 97 Adjusted EBITDA £’m 2 3 1 % % +£6.5m 1.9 1.3 -£6.6m OVERHEAD + GM% 2.3 2.3 1 Client retention remained strong, pressure Existing New on
Slide 25: Increasing momentum in new client acquisition
NEW BUSINESS ACCELERATION Increasing momentum in new client acquisition FY 25 Growth in New client contracts New client contracts # £m number and 7.8 8 3 3.0 value of new FY 24 FY 25 Won in 2024 Won in 2025 contract wins Significant increase in new Mature potential of FY 25 new client wins by number
Slide 26: Focus in 2026, accelerating momentum
STRATEGIES Focus in 2026, accelerating momentum 1. 2. 3. Retention: New client Financial attraction: discipline: Build long-term trust and Attract new client contracts Aim for 5%+ organic relationships with clients to with major international revenue growth on circa provide a sound foundation brands
Slide 27: ESG Update
FULL YEAR RESULTS 2025 ESG Update Visit thepebblegroup.com to learn more The Pebble Group FY 25 27 27
Slide 28: Enabling trust and building long-term relationships
2025 ESG HIGHLIGHTS Enabling trust and building long-term relationships NET-ZERO STRATEGY STRONG SUPPLIER Group improvement from 69 ➜ 71 IMPROVEMENTS IN 1,714 LAUNCHED STANDARDS AND ETHICAL PACKAGING AND WASTE volunteering hours delivered, Scope 1 and Scope 2 targets revised SOURCING in 2024 in 2025
Slide 29: Doing the right thing, supporting our stakeholders' priorities
ESG UPDATE Doing the right thing, supporting our stakeholders' priorities Our four ESG Cornerstones ESG Report 2025 Advancing sustainability Empowering our people Responsible leadership Community engagement The Pebble Group FY 25 29
Slide 30: Group Outlook, 2026
Group Outlook, 2026 Facilisgroup: Brand Addition: Capital: Invest to accelerate Grow revenue while Continue to deliver profitable growth via sustaining margin gains shareholder returns LTV/CAC measurement Well-placed to deliver profitable growth, strong cash generation and sustainable value creation
Slide 31: Appendix
FULL YEAR RESULTS 2025 Appendix Facilisgroup segmental analysis 32 Brand Addition segmental analysis 34 Balance sheet breakdown 35 Financial guidance 36 The Pebble Group FY 25 31
Slide 32: Segmental Analysis, home currency USD
FY 25 Segmental Analysis, home currency USD $’m FY 25 FY 24 Recurring Revenue Recurring Revenue 21.6 21.6 Level compared to FY 24 as like-for-like Other Revenue 1.0 0.9 Partner GMV and the total number of Partners Total Revenue 22.6 22.5 in 2024 were flat People & overhead (13.0) (11.3) Adjusted EBI
Slide 33: Segmental Analysis, reporting currency GBP
FY 25 Segmental Analysis, reporting currency GBP £’m FY 25 FY 24 Recurring Revenue Recurring Revenue 16.4 16.9 Level compared to FY 24 as like-for-like Other Revenue 0.8 0.7 Partner GMV and the total number of Partners Total Revenue 17.2 17.6 in 2024 were flat People & overhead (9.9) (8.8) Adjusted
Slide 34: Segmental Analysis
FY 25 Segmental Analysis £’m FY 25 FY 24 Revenue Revenue 107.5 107.7 Strong revenue performance has been Gross profit 39.8 37.9 maintained despite a decline in spending from existing clients caused by macroeconomic People & overhead (28.4) (27.1) challenges, thanks to the acquisition of new Adjusted
Slide 35: Balance sheet breakdown by business
FY 25 Balance sheet breakdown by business BA Assets BA Liabilities Group working capital dominated by Brand Addition with its high- quality Inventories and Trade receivables underwritten by our clients BA BA Trade and other payables Leases FG Assets FG Trade and other FG payables Leases Central asse
Slide 36: Financial guidance
Financial guidance CAPITAL EXPENDITURE: CURRENCY RATES: (excluding amounts capitalised under IFRS 16) Actual Actual Actual Est Actual Actual Est £m 2024 2025 2026 £:US$ 2023 2024 2025 2026 Tangible 0.2 0.4 0.7 Income Statement (average rate) 1.24 1.28 1.32 1.35 Intangible 6.6 4.5 5.5 Balance Sheet (
Slide 37: Building brands. Growing relationships. Strengthening businesses.
Building brands. Growing relationships. Strengthening businesses. The Pebble Group FY 25 37