Trading Update and Notice of Results
The Pebble Group expects its 2025 results to be in line with market expectations, with revenue around £125 million and Adjusted EBITDA not less than £15.8 million, reflecting a return to growth at Brand Addition and investment in Facilisgroup's new partner wins. Operating cash conversion improved to over 80%, and the Group ended 2025 with net cash of £9.6 million after significant shareholder distributions and share purchases. Facilisgroup saw nearly 100% growth in new partner wins in 2025, and Brand Addition secured new contracts expected to impact revenue from 2026. The company will provide further details on growth strategies, profit delivery, and capital allocation at its results announcement on March 17, 2026, and is assessing strategic options to unlock shareholder value.
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FY 25 expected to be in line with market expectations, strong cash generation and acceleration of new Partner wins at Facilisgroup
The Board of The Pebble Group, a leading provider of technology, services and products to the global promotional products industry, is pleased to announce that the Group's results for the year ending 31 December 2025 ("FY 25 Results"), which will be published on Tuesday 17 March 2026, are expected to be in line with market expectations.
Group revenue will be circa £125m (FY 24: £125.3m) with Adjusted EBITDA of not less than £15.8m (FY 24: £16.7m). This reflects a return to growth in H2 25 in Brand Addition and is net of circa $1.0m invested in operating costs in Facilisgroup to drive new Partner wins.
Operating Cash Conversion increased during the year to over 80% (FY 24 68%). After cash distributions to shareholders of £11.7m (FY 24: £3.4m) and purchases of shares by The Pebble Group Employee Benefit Trust of £0.6m (FY24: £0.1m), cash was ahead of expectations and the Group had net cash (excluding IFRS 16 liabilities) at 31 December 2025 of £9.6m (31 December 2024: £16.5m).
The decision to increase investment in business development at Facilisgroup has resulted in the acceleration of new Partner wins. Since the Group's last trading update on 9 September 2025, Facilisgroup has continued to build upon its positive trajectory and, in 2025, delivered close to 100% growth in the number of new Partner wins compared to 2024, while maintaining strong Partner retention. This provides an important increase in our Partner base and a strong foundation for growth at Facilisgroup in 2026 and beyond.
At Brand Addition, strong gross margins and cost discipline will underpin profit growth in 2025, complemented by encouraging new contract wins which will impact revenue from 2026 onwards.
The Board is pleased with the positive momentum from the recent investments in growth and at the Group's FY 25 Results in March 2026, we will provide detail on:
| i) | our approach to supporting accelerated growth at Facilisgroup as the value of our 2025 investment is increasingly realised; |
| ii) | Brand Addition's ability to deliver strong profits and cash generation throughout an extended period of macroeconomic challenge; and |
| iii) | our capital allocation priorities considering the Group's high cash generation characteristics, underpinned by a strong, debt free, balance sheet. |
The Board continues to assess strategic options to unlock value for shareholders in view of the financial strength and market-leading positions of the individual businesses. This includes further investments, capital returns and group structure.
Details of webcast for analysts and institutional investors
The management team will host a presentation for analysts and institutional investors at 8am (UK) on the day of the results, 17 March 2026. To register, please contact pebble@templebaradvisory.com.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.