SALTAIRE, U.K. -- Pace plc, a leading global developer of technologies and products for PayTV and
broadband service providers, today announces its results for the year ended 31 December 2012.
Adjusted EBITA up 11.8% to $158.1m, Free cash flow $182.7m, Dividend up 20.0% to 4.5c per
share.
Financial highlights
Revenues up 4.1% to $2,403.4m (2011: $2,309.3m).
Adjusted EBITA up 11.8% to $158.1m (2011: $141.4m) including the impact of Hard Disk Drive (HDD) supply disruption of $23.1m in H1 (2011: $8.9m).
Adjusted EBITA margin 6.6% (2011: 6.1%), 7.3% before the impact of HDD supply disruption (2011: 6.4%).
Profit after tax up 50.5% to $58.4m (2011: $38.8m).
Basic EPS up 47.0% to 19.4c (2011: 13.2c) with Adjusted basic EPS up 18.2% to 35.1c (2011: 29.7c).
Proposed final dividend 3.06c per share, resulting in full year dividend of 4.50c per share, a 20.0% increase on
2011 (2011: 3.75c).
Free cash flow $182.7m (2011: $8.2m).
Closing net debt down 49.2% to $163.3m (2011: $321.7m).
Operating highlights
New Executive Management team established in Q1 2012 with robust management processes and culture of
accountability across the business.
Significant progress made against the Strategic Plan laid out in November 2011:
- Transform core economics:
Focus on operating efficiency has delivered sustainable savings in the year.
Transformation of supply chain that will deliver tangible benefits in 2013 and beyond well
underway.
Managed well through HDD supply disruption following major flooding in Thailand, containing the
financial impact within H1.
- PayTV hardware leadership:
Reconfirmed as the market leader in PayTV hardware; global number one in Set-top boxes (“STBs”) and Residential Gateways
Maintained position at the forefront of technological development with the launch and deployment
of Media Server platforms at DirecTV and Comcast, and a number of Media Server wins at
operators in Europe, Latam and Asia Pacific.
Continued demand for Gateway platforms; Pace recently announced the deployment of the Pace
5168 Triple-Play Gateway at MTS, the fourth largest Telco in Canada.
- Widen out into Software, Services and Integrated Solutions:
Achieved a number of key wins and deployments across all areas of our Software and Services
offerings at customers such as BSkyB, Foxtel and Sky New Zealand, and have a strong pipeline
into 2013.
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