Pebble Beach Systems Group Plc · LSE:PEB
Pebble Beach Systems — H1 2023 Earnings Presentation
22 slides from Pebble Beach Systems's earnings presentation, Jun 30, 2023
Slide 1: Results for the half-year ended 30 June 2023
discovering, designing, delivering Pebble Beach Systems Group Plc Results for the half-year ended 30 June 2023 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 Business growing despite Continued investment Strong operational macro challenges and into software performance economic uncertainty development • Revenue up 9% on H1 • Oceans automation to • Continued debt F22 to £5.5m despite provide cloud-native reduction, with furth
Slide 4: Key performance indicators
Key performance indicators Order Intake • Down 14% £4.4m H1 FY22: £5m Revenue • Up 9% £5.5m H1 FY22: £5m Recurring support revenue • Up 13% £2.5m H1 FY22: £2.2m Adjusted EBITDA* • Up 5% £1.4m H1 FY22: £1.3m R&D expenditure • Up 5% £0.9m H1 FY22: £0.8m Cash generated from ops • Up 179% £1.7m H1 FY22:
Slide 5: Operational highlights
Operational highlights International reach and operational excellence ensuring that the business is able to grow despite a challenging macro backdrop • Two significant successes across the Middle East, totalling £0.7m to help solidify our position in key market • Pipeline is forecasted to grow. Enqu
Slide 6: Financial review
Financial review 6
Slide 7: Income statement
H1 2023 H1 2022 Variance FY 2022 £'000 £'000 £'000 £'000 Revenue 5,468 5,038 430 11,167 Income statement Cost of sales Gross Profit 1,417 4,051 1,236 3,802 249 2,821 8,346 Operating expenses 2,693 2,505 5,180 Adjusted EBITDA 1,358 1,297 61 3,166 ➢ 9% year on year H1 revenue growth as a result of For
Slide 8: R&D investment
R&D investment Investment into R&D maintained at circa 16% of revenue H1 FY 23 % of H1 FY22 % of (£’000) Revenue (£’000) Revenue Revenue 5,468 5,038 R&D Expenses 884 16% 838 17% Less: Capitalised (942) 17% (920) 18% Add: Amortised 634 12% 528 10% Net R&D P&L 576 11% 446 9% 8
Slide 9: Cash flow statement
Cash flow statement H1 2023 H1 2022 FY 2022 ➢ Cash balance up £0.2m on H1 £'000 £'000 £'000 last year Cash generated from operations 1,974 802 2,511 ➢ H1 FY22 included £0.4m of staff Interest paid (291) (183) (432) bonus paid in H1 Tax paid 2 (17) (21) ➢ Strong collections in H1 including Net cash g
Slide 10: Statement of financial position
Statement of financial position H1 2023 H1 2022 FY 2022 ➢ Increased investment in R&D, particularly £'000 £'000 £'000 new IP- based platform and products Non-Current Assets ➢ Property, plant and equipment increase Intangible Assets 3,218 3,218 3,218 Capitalised R&D 3,397 2,775 3,089 reflects the new
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, beating out competition with our superior technology solutions Middle East Europe • £650k in the region across 2 key accounts, adding a highly featured channel at a new site for a news • £360k with a state broadcaster in Spain organisatio
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 • Challenging economic environment has made customers nervous and delaying orders • A strong pipeline gives management confidence that H2 will pick up, with many deals at an advanced negotiation stage • Continued investment in technology focussed on delivering IP based clou
Slide 18: Appendix: Case studies
\ / Appendix | Case studies |
Slide 19: Successfully implementing a hybrid playout infrastructure
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 20: Hybrid SDI and IP playout for a worldwide business 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 21: Business continuity operation for synchronised disaster recovery
PEDDLE]: || sicastssicvpiier Tees Mend vain VoUraibsinerauc IIR 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 East.
Slide 22: 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
Pebble Beach Systems Group — H1 2023 Earnings Presentation on 6ix