Business
FY 2023 Results Announcement
FY 2023 Results Announcement.
About this update from Pensionbee Group Plc
[{"type":"text","content":"\n\n\n\n\n\nPensionBee Group plc\n\n\n\n\nIncorporated in England and Wales\n\n\n\n\nRegistration Number: 13172844\n\n\n\n\nLEI: 2138008663P5FHPGZV74\n\n\n\n\nISIN: GB00BNDRLN84\n \n\n \n\n\n\n\n13 March 2024\n\n\n\n\n \nPensionBee Group plc\n\n\n\n\n \nFull Year Results for the year ended 31 December 2023\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSuccessful strategy drives strong performance for 2023 \n\n\n\n\nAdjusted EBITDA Profitability in Q4 2023 underpins expected UK profitability for FY 2024\n\n\n\n\nProposed US expansion marks next phase of corporate journey\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPensionBee Group plc ('PensionBee' or the 'Company'), a leading online pension provider, today announces its audited full year results for the year ended 31 December 2023. \n\n\n\n\n \nHighlights \n\n\n\n\n \n\n\n\n\n· \n\n\nPensionBee's online pension offering continued to make retirement planning for its customers straightforward and enjoyable, serving approximately 230,000 Invested Customers by the end of 2023, aiming to make them Pension Confident. \n\n\n\n\n\n· \n\n\nSince the Company's Initial Public Offering in 2021, it has more than tripled its Assets under Administration to £4.4bn and has quadrupled its Revenue to £23.8m. In line with the commitment at listing, PensionBee achieved ongoing Adjusted EBITDA profitability in the fourth quarter of the year. \n\n\n\n\n\n· \n\n\nCustomer acquisition continued to be a core pillar of the strategy for 2023, with PensionBee maintaining its household brand name status, onboarding 46,000 new Invested Customers at a declining Cost per Invested Customer. \n \n\n\n\n\n· \n\n\nThe Company's scalable technology platform enabled it to serve customers with delightful new product initiatives and contributed to its delivery of exceptional customer service, as demonstrated by over 10,000 Trustpilot reviews supporting PensionBee's 'Excellent' Score. \n\n\n\n\n\n· \n\n\nThroughout the year the Company experienced broader liquidity in its shares, joining the FTSE All-Share Index in March 2023 and the FTSE4Good Index in December 2023. \n\n\n\n\n\n· \n\n\nIn early 2024, the C...