Pensionbee Group Plc · LSE:PBEE
Pensionbee — Q4 2023 Earnings Presentation
22 slides from Pensionbee's earnings presentation, Jan 24, 2024
Slide 1: Q4 2023 Results Presentation
Q4 2023 Results Presentation for the year ended 31 December 2023 www.pensionbee.com 1
Slide 2: Agenda
Agenda 1 Overview of Q4 2023 2 Financial Update 3 Conclusion 4 Appendix www.pensionbee.com 2
Slide 3: Overview of Q4 2023
1 Overview of Q4 2023 www.pensionbee.com 3
Slide 4: A Leading Online Pension Provider in the UK: Solving Genuine Problems for Consumers
A Leading Online Pension Provider in the UK: Solving Genuine Problems for Consumers Award-winning offering Trustpilot 4.6 out of 5 - Excellent(1) www.pensionbee.com (1) Trustpilot score of 4.6★ out of 5 (based on 10,004 reviews) recorded 12 January 2024. 4
Slide 5: Significant Continued Growth in Q4 2023
Significant Continued Growth in Q4 2023 Growth in Invested Customers Translates into Increasing AUA Base Driving Revenue Growth (Invested Customers, 000s) (AUA, £m) (Revenue, £m) +25% +44% +35% Excellent momentum in customer growth, AUA increased by 44% year on year to £4.4bn, driven Revenue increas
Slide 6: Achievements against our Strategic Goals (1/2)
Achievements against our Strategic Goals (1/2) CPIC continues to decline 1● Efficient investment in customer acquisition and brand awareness - Total marketing investment of £9.7m in 2023, bringing the cumulative marketing investment since inception to £55m - Continued refinement of our brand strateg
Slide 7: Achievements against our Strategic Goals (2/2)
Achievements against our Strategic Goals (2/2) ●3 Continued investment in and development of an Invested Customers per Staff Excellent Customer Service industry leading technology platform Member(1) Reflected in Metrics - Successful re-certification to ISO 27001 Information Security Management Syste
Slide 8: Financial Update
2 Financial Update www.pensionbee.com 8
Slide 9: £1.3b AUA Growth Driven by New and Existing Customers
£1.3b AUA Growth Driven by New and Existing Customers AUA Growth Underpinned by New and Existing Cohorts Strong Net Flows Year to Date(1) (AUA, £bn) (Net Flows, £m) c.£4.4bn 4,350 YoY +44% +857 Quality of AUA Across the portfolio as of 31 Dec 2023 3,882 Total Invested Customers: 229k +14% impact Avg
Slide 10: High Retention Rates Compound AUA and Drive Revenue
High Retention Rates Compound AUA and Drive Revenue High Customer and AUA Retention Rates Compound AUA … … and Drive Revenue (AUA Breakdown into Net Flow Cohorts and Market Impact, £m) (December Annual Run Rate Revenue(1), £m) 4,350 Cumulative Market Impact Retention Statistics +44% Customer Retenti
Slide 11: Scalable Cost Base Drives Operating Leverage & Profitability
Scalable Cost Base Drives Operating Leverage & Profitability Revenue … … Coupled with Scalable Cost Base … … Creates Strong Operating Leverage (Over the 12 month period ending Revenue, £m) (Over the 12 month period ending Cost Base, £m) (Over the 12 month period ending Adj. EBITDA, £m) (13)% Adj. EB
Slide 12: Expectations of Long Term Growth and Profitability
Expectations of Long Term Growth and Profitability Objective Guidance Long Term Illustration ● Aim to deliver sustained high annual Revenue growth. ● Continue appealing to the mass market, acquiring more new customers and growing customers’ pension balances. Revenue ● Our ambition is to pursue a c.2
Slide 13: Conclusion
3 Conclusion www.pensionbee.com 13
Slide 14: A History of PensionBee and Key Milestones
A History of PensionBee and Key Milestones Pivotal profitability milestone achieved in Q4 2023, driven by strong net inflows from new and existing customers, the inherent scalability of our technology platform and sustainable cost discipline Prototyping and Innovation and Acclaim from the Becoming a
Slide 15: Key Investment Highlights
Key Investment Highlights 1 UK’s Leading Online Pension Provider: Solving Genuine Problems for Consumers for a Decade 2 Mass Market Opportunity Presented by £1 trillion DC Pensions Market Underpinned by Structural Growth Drivers 3 Household Brand Name Status Supports Effective, Data-led Marketing St
Slide 16: Further Updates
Further Updates ● 2023 Full-year Results on Wednesday 13 March 2024 (post-market close) ● Publication of Annual Report on Thursday 11 April 2024 (am) ● Q1 2024 trading update on Wednesday 24 April 2024 (post-market close) ● Annual General Meeting on Thursday 16 May 2024 www.pensionbee.com 16
Slide 17: Q4 2023 Highlights
Q4 2023 Highlights KPIs As at Period End Dec-2021 Dec-2022 Dec-2023 YoY AUA (£m) 2,587 3,025 4,350 44% AUA Retention Rate (% of AUA) >95% >95% >95% Stable Invested Customers ('000) 117 183 229 25% Customer Retention Rate (% of IC) >95% >95% >95% Stable Cost per Invested Customer (£) 246 248 241 (3)%
Slide 18: Appendix
4 Appendix www.pensionbee.com 18
Slide 19: Illustrative Unit Economics Demonstrate Attractive Returns
Illustrative Unit Economics Demonstrate Attractive Returns ✔ Methodological data driven approach to LTV/CAC customer acquisition ✔ Attractive LTV/CAC Asset Driven Lifetime Revenue ▪ Scalable technology platform ▪ Low cost to serve customers ✔ Attractive Payback Compelling Unit Period Economics ✔ Lon
Slide 20: Scalable Technology Platform generates Operating Leverage
Scalable Technology Platform generates Operating Leverage Over the 12-month Period Ending YoY KPI & Financials (2022 to Drivers Dec-21 Dec-22 Dec-23 2023) Drivers of AUA and embedded growth include: (i) efficient customer acquisition driven by strong Assets under Administration £2,587m £3,025m £4,35
Slide 21: Glossary
Glossary Annual Run Rate (ARR) Revenue Annual Run Rate (ARR) Revenue is calculated using the Recurring Revenue for the relevant month multiplied by 12. Assets under Assets under Administration (AUA) is the total invested value of pension assets within PensionBee Invested Customers’ pensions. It meas
Slide 22: Disclaimer
Disclaimer The information contained in this presentation has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in it.