Business
FY 2022 Results Announcement
FY 2022 Results Announcement.
About this update from Pensionbee Group Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n PensionBee Group plc\n \n \n \n \n \n \n \n Incorporated in England and Wales\n \n \n \n \n \n \n Registration Number: 13172844\n \n \n \n \n \n \n LEI: 2138008663P5FHPGZV74\n \n \n \n \n \n \n ISIN: GB00BNDRLN84\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 16 March 2023\n \n \n \n \n \n \n \n \n \n \n \n \n \n PensionBee Group plc\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Full Year Results for the year ended 31 December 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Strong Growth across all Key Metrics and on track for\n \n \n \n \n \n \n \n \n achievement of Ongoing Adjusted EBITDA Profitability by the end of 2023\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n PensionBee Group plc ('PensionBee' or the 'Company'), a leading online pension provider, today announces its audited\n full year results for the year ended 31 December 2022.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Highlights\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n ●\n \n \n \n \n Revenue increased by 38% to £17.7m (2021: £12.8m)\n \n \n \n \n \n \n ●\n \n \n \n \n Adjusted EBITDA* of £(19.5)m (2021: £(16.4)m), reflecting continued investment in growth\n \n \n \n \n \n \n ●\n \n \n \n \n Adjusted EBITDA Margin* of (110)% (2021: (129)%), demonstrating operating leverage\n \n \n \n \n \n \n ●\n \n \n \n \n Profit/(Loss) before Tax of £(22.4)m (2021: £(25.0)m)\n \n \n \n \n \n \n ●\n \n \n \n \n Basic Earnings per Share was (9.97)p (2021: (11.86)p)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n ●\n \n \n \n \n Assets under Administration ('AUA') increased by\n 17% year on year to £3.0bn (2021: £2.6bn), driven predominantly by strong net flows from new and existing customers\n \n \n \n \n \n \n ●\n \n \n \n \n Invested Customer\n ('IC') base increased by 56% year on year to 183,000 (2021: 117,000), driven by brand awareness of over 50%\n \n \n \n \n \n \n ●\n \n \n \n \n Customer Retention Rate of 9\n 7% remained high (2021: 97%)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Romi Savova, Chief Executive Officer of PensionBee, commented:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \"We are pleased to report strong full year results for 2022, having exceeded £3 billion of Assets under Administratio...