Business
Trading Update for the six months ending 30 Jun 22
Trading Update for the six months ending 30 Jun 22.
About this update from Pensionbee Group Plc
[{"type":"text","content":"\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 21 July 2022\n \n \n \n \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 \nTrading Update for the six months ending 30 June 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Excellent Customer Growth; on Track to Reach Profitability\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 PensionBee Group plc (\"PensionBee\" or the \"Company\"), a leading online pension provider, today announces a trading update for the six months ending 30 June 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 \n \n ●\n \n \n \n \n Excellent customer growth, with\n Invested Customers increasing 72% to 159,000 (June 2021: 92,000) and a Registered Customer base of 897,000 (June 2021: 538,000), demonstrating the strength of the customer-focused proposition and vast UK market opportunity\n \n \n \n \n \n \n ●\n \n \n \n \n Assets under Administration (\n \"AUA\") increased by 35% year on year to £2,676m (June 2021: £1,987), despite global market volatility, underpinned by strong net flows from new and existing customers and a customer retention rate of 97%\n \n \n \n \n \n \n ●\n \n \n \n \n Annual Run Rate Revenue increased by\n 37% to £17m (June 2021: £12m)\n \n \n \n \n \n \n ●\n \n \n \n \n Cost per Invested Customer reduced to <£260, on track to decrease further by the year end\n \n \n \n \n \n \n ●\n \n \n \n \n On track to achieve monthly\n Adjusted EBITDAM profitability by end of 2022 and monthly Adjusted EBITDA profitability by end of 2023\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Continued Advancement of Strategic Goals\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n In line with its data-driven acquisition approach and as stated in its growth strategy, PensionBee has continued to focus on disciplined investment in marketing. This has resulted in exceptional customer growth, with Invested Customers increasing by 72% year on year with the addition of 41,000 new Invested Customers in the first half of the year. PensionBee is pleased with the trajectory of the Cost per Invested Customer, which has decreased to less than £260 and is on track to reduce furt...