Pensionbee Group Plc · LSE:PBEE
Pensionbee — Q1 2023 Earnings Presentation
21 slides from Pensionbee's earnings presentation, 2023
Slide 1: Q1 2023 Results Presentation
Q1 2023 Results Presentation For the three months to 31 March 2023 www.pensionbee.com 1
Slide 2: Agenda
Agenda 1 Overview of Q1 2023 2 Financial Update 3 Conclusion 4 Appendix www.pensionbee.com 2
Slide 3: Overview of Q1 2023
1 Overview of Q1 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 8,574 reviews) recorded 15.04.23 4
Slide 5: Significant Growth Across Core Metrics in Q1 2023
Significant Growth Across Core Metrics in Q1 2023 +44% ● Excellent momentum in the growth of the customer base Growth in Invested Customers ● c.14k new Invested Customers for the first quarter (000s) ● Overall Invested Customer base now c.200k +23% ● AUA increased by 23% year on year to £3.4bn Trans
Slide 6: Achievements against our Strategic Goals (1/2)
Achievements against our Strategic Goals (1/2) 2022 In-Period CPIC declining(2) ●1 Efficient investment in customer acquisition and brand awareness - Marketing expenditure of £4m in Q1 2023 adding to cumulative total marketing expenditure of c. £50m(1) - Strong growth in Invested Customers through d
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 Member(1) Reflected in Metrics industry leading technology platform - Focus on internal automation, efficiency and pension transfer improvements to
Slide 8: Financial Update
2 Financial Update www.pensionbee.com 8
Slide 9: AUA Growth Driven by New and Existing Customers
AUA Growth Driven by New and Existing Customers AUA Growth Underpinned by New and Existing Cohorts Strong Net Flows Q1 2023(1) (AUA Base, £bn) (Net Flows, £m) 3,379 c.£3.4bn Quality of AUA +233 Across the portfolio as of March-23 YoY 3,258 +23% Cumulative IC: 198k Avg. Pension Pot Size: £17k +4% imp
Slide 10: High Retention Rate Compounds AUA and Drives Revenue
High Retention Rate Compounds AUA and Drives Revenue High Customer and AUA Retention Rates Compound AUA … … and Drive Recurring Revenue (AUA Breakdown into Net Flow Cohorts and Market Impact, £m) (LTM Revenue to March(3), £m) 3,379 Cumulative Market Impact Retention Statistics Cumulative Net Flows C
Slide 11: Scalable Cost Base Creates Strong Position for YE Profitability
Scalable Cost Base Creates Strong Position for YE Profitability Recurring Revenue … … Coupled with Scalable Cost Base … … Creates Strong Position for YE Profitability (Quarterly Revenue, £m) (Quarterly Cost Base, £m) (Quarterly Adj. EBITDA, £m) Adj. EBITDA profitability expected by Year End 2023 (25
Slide 12: Guidance Framework
Guidance Framework Objective Long Term (5 years+) Short to Medium Term (next 5 years) ● Having achieved household brand name status, continue ● Pursuing a c.2% market share of the substantial £700bn UK appealing to the mass market and competing to acquire more transferable pensions market(3) pension
Slide 13: Conclusion
3 Conclusion www.pensionbee.com 13
Slide 14: Key Investment Highlights
Key Investment Highlights ● 1 A Leading Online Pension Provider: Solving Genuine Problems for Consumers ● 2 £700bn Core Target Market of Transferable Pensions Presents Mass Market Opportunity ● 3 Household Brand Name Supports Effective, Data-led Marketing Strategy to Acquire Customers ● 4 Scalable T
Slide 15: Further Updates
Further Updates ● Annual General Meeting on Thursday 18 May 2023 ● 1H 2023 trading announcement on Thursday 20 July 2023 www.pensionbee.com 15
Slide 16: Q1 2023 Highlights
Q1 2023 Highlights KPIs As at Period End Financials Over a Trailing 12-month Period Ending Mar-2022 Mar-2023 YoY Mar-2022 Mar-2023 YoY AUA (£m) 2,747 3,379 23% LTM Revenue (£m) 14 19 30% AUA Retention Rate (% of AUA) >95% >95% Stable LTM Adjusted EBITDA (£m) (22) (15) (32)% Invested Customers ('000)
Slide 17: Appendix
4 Appendix www.pensionbee.com 17
Slide 18: Attractive Unit Economics
Attractive Unit Economics Illustrative Unit Economics Demonstrates Strong Return Profile ✔ 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 Compelli
Slide 19: Scalable Technology Platform generates Operating Leverage
Scalable Technology Platform generates Operating Leverage For the Financial Year YoY KPI & Financials (Q1 2022 to Drivers Q1 2022 Q1 2023 Q1 2023) Drivers of AUA and embedded growth include (i) efficient customer acquisition driven by strong brand awareness Assets under Administration £2,747m £3,379
Slide 20: Glossary
Glossary Assets under Assets under Administration (AUA) is the total invested value of pension assets within PensionBee Invested Customers’ pensions. It measures the new inflows less the outflows and records a change in the Administration (AUA) market value of the assets. AUA is a measurement of the
Slide 21: 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.