Pebble Beach Systems has announced a strong set of results for the year ended 31 December 2019, with all key financial metrics ahead of 2018’s impressive figures.
The company increased its gross margin, and the net cash inflow from its operating activities. At £3.8m, the adjusted EBITDA figure was 52% higher than that for 2018. Revenues were also significantly up, at £11.2m compared to £9.2m in 2018, an increase of 22%.
Pebble CEO Peter Mayhead commented “This strong display of financials is excellent news for our existing customers and prospective Pebble users. It sends a clear signal to the industry about our stability and success as a supplier, and about continuity of supply and support for existing users. It also demonstrates that we are in a strong position to invest in R&D for the future of the company, enabling us to enhance our offering and increasing our ability to meet the market’s requirements as the industry continues to transform.”
John Varney, Non-Executive Chairman of Pebble Beach Systems Group plc, said: “2018 was a year of transformation, and 2019 has been a year of validation. We have shown that the steps we had taken were what the market, in which we occupy a leading position, needed. We concluded the year having shown that we can both deliver upon our expectations and we can innovate. We are a key component of this industry that changes rapidly and is always at the forefront of technological innovation. We are fortunate to have some hugely talented individuals within Pebble Beach Systems who are constantly delivering new and exciting solutions that enable us to maintain our position as a leading supplier of broadcast automation to the world’s largest broadcasters.”