Business
Interim Results 2024
Interim Results 2024.
About this update from Pensionbee Group Plc
[{"type":"text","content":"\n\n \n\n\n\n\nPensionBee Group plc\nIncorporated in England and Wales\nRegistration Number: 13172844\nLEI: 2138008663P5FHPGZV74\nISIN: GB00BNDRLN84\n\n\n\n\n\n28 August 2024\nPensionBee Group plc\nInterim Results for the six months ended 30 June 2024\n\n\n\n\nCreating a Global Leader in the Retirement Market\nSuccessful Strategy drives Strong UK Business Performance\nUS Launch builds on Growth Ambition and Leverages Execution Capability\nPensionBee Group plc ('PensionBee' and together with its subsidiary companies the 'Group'), a leading online pension provider, today announces interim results for the six month period ended 30 June 2024 (1H 2024).\n \nThe Group 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 Q2 2024 Results announcement released on 24 July 2024.\n \nHighlights1\n \n\n\n\n\n● \n\n\nPensionBee's online pension offering continued to make retirement planning and saving straightforward and enjoyable, making customers 'Pension Confident', serving 252,000 Invested Customers by June 2024 (1H 2023: 211,000).\n\n\n\n\n● \n\n\nAssets under Administration rose to £5.2bn by June 2024 (1H 2023: £3.7bn), with Revenue correspondingly growing to £15.4m for the half year 2024 (1H 2023: £10.9m).\n\n\n\n\n● \n\n\nPensionBee achieved Adjusted EBITDA profitability for the second quarter of the year, paving the way for its UK business to reach Adjusted EBITDA profitability for the full year 2024.2\n\n\n\n\n● \n\n\nEfficient customer acquisition continued to be core to the growth strategy. With PensionBee's household brand name in the UK and prompted brand awareness of 55%3 (1H 2023: 50%), 23,000 new Invested Customers were onboarded during the first half of the year (1H 2023: 28,000). Cost per Invested Customer continued to decline to £242 (1H 2023: £247).\n\n\n\n\n● \n\n\nPensionBee's scalable technology platform enabled it to serve customers with new product innovations, enabling continued engagement.\n\n\n\n\n● \n\n\nDelivery of exceptional Customer Service continued to be prioritised, demonstrated by the achievement of a 4.7★ Excellent Trustpilot score4 (1H ...