Pebble Beach Systems Group Plc · LSE:PEB
Pebble Beach Systems — H1 2022 Earnings Presentation
23 slides from Pebble Beach Systems's earnings presentation, September 2022
Slide 1: Interim results for the six months ended 30 June 2022
discovering, designing, delivering Pebble Beach Systems Group Plc Interim results for the six months ended 30 June 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 Balancing short term performance with long term investment into next generation solutions Business growing despite negative environmental factors such as Continued investment into Strong operational performance Covid-19, Russian situation, and software development globa
Slide 4: Key Performance Indicators
Key Performance Indicators Order Intake • UP 3% £5.0m FY21: £4.9m Revenue • UP 3% £5m FY21: £4.9m Recurring support revenue • UP 9% £2.24m FY21: £2.05m Adjusted EBITDA* • DOWN 24% £1.3m FY21: £1.7m R&D expenditure • UP 29% £0.9m FY21: £0.7m Cash generated from ops • DOWN 67% £0.6m FY21: £1.8m Net De
Slide 5: Operational highlights
Operational highlights International reach and operational excellent ensuring that the business is able to grow despite some challenging market factors • 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
Income Statement ➢ Modest revenue growth of 3% following a 2022 H1 2021 H1 Variance £'000 £'000 £'000 strong FY21 Q4. Revenue 5,038 4,889 149 Cost of sales 1,236 1,025 ➢ Recurring revenue from support contracts Gross Profit Operating expenses 3,802 2,505 3,864 2,118 (62) represented 45% of revenue a
Slide 8: R&D Investment
R&D Investment Investment into R&D maintained at circa 21% of revenue FY 22 % of FY21 % of (£’000) Revenue (£’000) Revenue Revenue 5,038 4,889 R&D Expenses 1,046 21% 771 16% Less: Capitalised (920) 18% (711) 15% Add: Amortised 528 10% 415 8% Net R&D P&L 654 13% 475 10% 8
Slide 9: Cash flow Statement
Cash flow Statement 2022 H1 2021 H1 £'000 £'000 Cash generated from operations 802 2030 ➢ Drop in cash balance due to Interest paid (183) (168) £0.4m of non-recurring items Tax paid (17) (19) Net cash generated from operating activities 602 1,843 paid in H1 ➢ £0.6m staff bonus paid following Interes
Slide 10: Statement of Financial Position
Statement of Financial Position 2022 H1 2021 H1 ➢ Increased investment in R&D, particularly £'000 £'000 new IP- based platform and products Non-Current Assets Intangible Assets 3,218 3,218 ➢ Property, plant and equipment reduction Capitalised R&D 2,775 2,079 reflects decision to exit property leases
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 Europe Significant project wins across the globe £0.7m project won at the end of the first half from a national broadcaster in Finland. This Middle East is an upgrade and expansion of their current system providing a flexible hybrid solution allowing transition to IP-based £0.6m f
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 H1 2022 and improved pipeline gives the Board confidence in our full year expectations 1 2 3 4 • H2 orders • Improved • Strong • Return of forecast to pipeline into forward conferences, be stronger H2 order book trade shows, than H1 at the end of and
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
\ / Appendix | Case studies |
Slide 20: 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 21: Hybrid SDI and IP playout for a major 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 22: Business continuity operation for fully 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 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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