Business
Half-year Report
Half-year Report.
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\nInterim Results\nFor the six months ended 30 June 2023\n\n\n\n\nPensionBee Group plc ('PensionBee' or the 'Company'), a leading online pension provider, today announces interim results for the six month period ended 30 June 2023 (1H 2023).\n\n\n\n\nThe Company is pleased to announce that it has delivered strong financial and operational performance during the first half of the year, with high levels of growth achieved across key metrics, in line with the trading update released on 20 July 2023.\n\n\n\n\nPerformance Overview\n\n\n\n\n \n\n\n\n\n● Revenue increased by 32% to £10.9m (1H 2022: £8.3m)\n\n\n\n\n● Profit/(Loss) before Tax was £(9.2)m (1H 2022: £(16.9)m)\n\n\n\n\n● Adjusted EBITDA was £(7.9)m (1H 2022: £(14.9)m)\n\n\n\n\n● Basic Earnings per Share was (4.06)p (1H 2022: (7.54)p)\n● Assets under Administration ('AUA') increased by 38% year on year to £3,704m (1H 2022: £2,676m)\n\n\n\n\n● Invested Customers ('IC') increased by 33% to 211,000 (1H 2022: 159,000)\n\n\n\n\n● Customer Retention Rate and AUA Retention Rate were both stable at >95% (1H 2022: >95%)\n\n\n\n\n● Excellent Trustpilot score of 4.6★ (1H 2022: 4.6★)\n\n\n\n\n● Cash position of £14m (1H 2022: £29m)\nRomi Savova, Chief Executive Officer of PensionBee, commented:\n \n\"We are proud to have helped an increasing number of customers take control of their retirement planning and prepare for a happy future. PensionBee's strong results and ongoing growth have positioned us well on track to deliver monthly Adjusted EBITDA profitability by the end of the year. The scalability of our technology platform drives margin improvement, and we are looking forward to further innovating and evolving with our customers as we champion their voices in the industry.\n \nWe are confident that our focus on serving and delighting customers will allow us to continue to grow and capture market share.\"\n\n\n\n\n \n\n\n\n\nFinancial Highlights*\n\n\n\n\n \n\n\n\n\n\n\n\nFor the 6-month Period Ending...