The Pebble Group PLC Announces Audited Full Year Results 2023

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No.596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

THE PEBBLE GROUP PLC

("The Pebble Group", the "Group" or the "Company")

AUDITED FULL YEAR RESULTS 2023

Performance in line with revised expectations and well-placed for return to growth

MANCHESTER, UK / ACCESSWIRE / March 19, 2024 / The Pebble Group, a leading provider of digital commerce, products and related services to the global promotional products industry, announces its audited results for the year ended 31 December 2023 ("FY 23").

The results are in line with revised expectations as set out in the trading update on 22 November 2023 as a result of continued growth in Facilisgroup and reduced revenue at Brand Addition stemming from a contraction in spend among Technology and Consumer clients.

Commenting on the results, Chris Lee, Chief Executive Officer of Pebble Group said: "Both Facilisgroup and Brand Addition retain attractive fundamental strengths, are differentiated in their respective markets and have clear strategic plans to grow in the very large global but fragmented promotional products industry. With a robust balance sheet that has enabled investment in new technology product initiatives and further development on its progressive dividend policy, the Group remains well-placed to return to growth in 2024, with exciting opportunities to scale further. Trading in 2024 has started in line with management's expectations."

	Group revenue of £124.2m (FY 22: £134.0m), 7% behind the prior year.
	Facilisgroup: Annual Recurring Revenue grew by 12% to USD21.2 million (FY 22: USD19.0m) with attractive Adjusted EBITDA margins of 50% (FY 22: 54%).
	Brand Addition: Revenue decreased by 9% to £106.3m (FY 22: £117.4m) due to impact of reduced spend from the Technology and Consumer sectors.
	Gross profit margin increased 4.3 percentage points to 43.6% (FY 22: 39.3%) as a result of increased value delivered by Brand Addition to its clients and the growing proportion of Facilisgroup as a percentage of overall Group sales.