Pebble Beach Systems Group PLC – Final Results

Pebble Beach Systems Group PLC – Final Results

Pebble Beach Systems Group plc, a leading global software business specialising in solutions for playout automation and content serving customers in the broadcast markets, today announces its final results for the year ended 31 December 2018.

Financial Headlines





Order Intake









Gross Margin





Adjusted EBITDA*

% of Revenues





Adjusted earnings/(loss) per share*



Net cash inflow from operating activities





  • Full year results ahead of management expectations
  • Order intake and outlook for 2019 strong
  • Gross margin improved materially to 73% (2017: 63%)
  • Adjusted* EBITDA improved materially to £2.5 million (2017: £0.5 million)
  • Net cash inflow from operating activities improved materially to £1.7m (2017: £2.6m outflow)
  • Extension to the bank credit facility until 30 November 2020, providing a stable capital base
  • Net debt reduced from £10.3 million to £9.4 million during the year 

*Adjusted EBITDA, a non-GAAP measure, is EBITDA before non-recurring items and foreign exchange gains. Adjusted earnings per share is calculated on the same basis after taking account of related tax effects.

 John Varney, Non-Executive Chairman of Pebble Beach Systems Group plc, said: 

“This is an exciting time for Pebble Beach Systems as the broadcast industry adapts to the opportunities presented by the expansion in audience and platforms, underpinned by strong continuing growth in advertising revenues. Pebble Beach Systems is now well-positioned to deliver solutions to the global broadcast market as it invests in channel and content delivery infrastructure and systems.

With significant improvements in our profitability and operating cash generation over FY17, we go into 2019 with a strong order backlog and will improve our financial position further as broadcasters invest to take advantages of increasing audience numbers and advertising spend.”

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