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PBEE

Pensionbee Group Plc

62.40
0.70 (1.13%)
Share Name Share Symbol Market Type Share ISIN Share Description
Pensionbee Group Plc LSE:PBEE London Ordinary Share GB00BNDRLN84 ORD GBP0.001
  Price Change % Change Share Price Shares Traded Last Trade
  0.70 1.13% 62.40 57,050 16:35:14
Bid Price Offer Price High Price Low Price Open Price
62.00 62.80 62.80 62.80 62.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pension,health,welfare Funds 17.66 -22.15 -9.90 - 139.07
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:14 UT 1 62.40 GBX

Pensionbee (PBEE) Latest News

Pensionbee (PBEE) Discussions and Chat

Pensionbee Forums and Chat

Date Time Title Posts
20/3/202311:09PensionBee - an apiary for your pension investments50

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Pensionbee (PBEE) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
15:35:1462.4010.62UT
15:24:5162.8010.63O
15:24:5062.804327.00AT
15:18:4662.807748.36O
15:18:3562.802,9521,853.86AT

Pensionbee (PBEE) Top Chat Posts

Top Posts
Posted at 20/3/2023 11:00 by melody9999
Had a quick listen to the presentation. Does not fill me with confidence these guys have a control over their costs.

When the FD talks about brand awareness, marketing etc rather than costs and profitability, its a red flag.

Cash reduced from £44M to £21M at 2022 y/e. That must be c £16M now. These guys are burning cash fast. Expect a dilutionary cash call before long.

My interest in PBEE was provoked by my holding in XPS.... think I'll stay put.

Posted at 16/3/2023 16:02 by kalai1
PensionBee Group plc posted FY22 results this morning. Revenue increased by 38% to £17.7m (2021: £12.8m), adjusted EBITDA loss was £(19.5)m up from £(16.4)m reflecting continued investment in growth, statutory Loss before Tax was £(22.4)m. Assets under Administration increased by 17% year on year to £3.0bn (2021: £2.6bn), driven predominantly by strong net flows from new and existing customers. The Invested Customer base increased by 56% year on year to 183,000 (2021: 117,000). So the business is growing solidly but is not yet delivering a profit, nor will it anytime soon. Share price is down around 40% from the generous IPO price in Q2 2021, but valuation still looks stretched with PS ratio over 14x and comfortably bottom decile for the sector. PBEE looks like a company with a lot of potential for the long run, but is still way too expensive. Monitor for now...

...from WealthOracle

hTTps://wealthoracle.co.uk/detailed-result-full/PBEE/682

Posted at 16/3/2023 11:09 by edmonda
Growth and delivery driving strong investor interest (new note from Equity Development)

Research report & audio summary: https://www.equitydevelopment.co.uk/research/growth-and-delivery-driving-strong-investor-interest

In FY22 (to 31 Dec 22) PensionBee continued to rapidly grow, despite market falls, and gain market share (page 2) in the structurally growing £700bn target market of transferable DC pensions (page 12). Invested customers grew 56% to 183k, AUA 17% to £3.03bn (net inflows +£863m, market movements -£424m), and revenue 38% to £17.7m. Adjusted EBITDA started to ‘turn the corner’ towards profitability and is forecast to turn positive on a monthly basis by the end of 2023. The net cash position is robust at £21m with no new cash raising envisaged.

We also flag the encouraging jump in investor interest in PBEE shares - especially after its Jan 23 trading update which showed the path to profitability was on track - with the recent price rise accompanied by strong volumes. On top of its fundamentals, PensionBee’s inclusion in the FTSE All-Share and FTSE SmallCap indices from 20 Mar 23 should be another positive for the share price.

PensionBee’s customer acquisition growth path compared to incumbents indicates it is rapidly gaining market share. In H2 of 2022, it added 24k net new invested customers (H2-22 annualised growth rate of 30%):
• This was more than double the total number of net new D2C platform clients (pension and other clients) added by AJ Bell (10k, which translated to an H2-22 annualised growth rate of 7%).
• And it was only a little less than the total number of net new clients (pension and other clients) added by the UK’s largest D2C investment platform, Hargreaves Lansdown (HL), which added 31k (an H2-22 annualised growth rate of 4%), and much higher than HL’s new pension accounts (13k net new SIPP accounts and 16k ISA and other accounts).

Our forecasts remain unchanged, as does our fundamental value of 150p per share.

Posted at 20/1/2023 08:07 by paleje
Nobody seems interested. Too boring perhaps:) Building nicely imo, brand name recognition established, increasing market share, profit not far away. Good summary from ED, thanks edmonda.
Posted at 20/1/2023 07:49 by edmonda
New research note link post year end trading update: https://www.equitydevelopment.co.uk/research/customers-56-aua-17-in-turbulent-2022

PensionBee’s trading update covering FY22 (to 31 Dec 22) shows continuing strong growth, despite large market falls during the period, and continuing market share gains. Invested customers grew 56% y-o-y to 183k (31 Dec 21: 117k), while AUA grew 17% to £3.03bn (31 Dec 21: £2.59bn) with net inflows of +£863m and market movements of -£424m. Net inflows were particularly impressive, with PensionBee’s net inflow rate far higher than incumbents, and the absolute size of its net inflows not far off the pension inflows of the largest incumbent platforms. Revenue increased 38% y-o-y to c£18m (FY21: £12.8m).

Adjusted EBITDA has started to ‘turn the corner’ towards profitability. In FY21 it was -£16.4m, in H1-22 -£14.9m and in H2-22 -£5m (FY22 -£19m). Management have reiterated confidence in achieving +ve adj. EBITDA on a full-year basis in FY24, the target set at the time of PensionBee’s IPO (Apr 21). Further evidence of operating leverage has been reported with the number of invested customers per staff member increasing 31% (970 vs. 743).

Our top-line forecasts have been revised downwards in line with FY22 actuals and reduced marketing spend guidance, but this is offset to a degree by reduced cost guidance - our fundamental valuation reduces slightly from 160p to 150p.

Posted at 20/10/2022 14:50 by edmonda
Q3 client growth impressed with invested customers up 9% in the quarter and 68% y-o-y. On updated forecasts our fair value reduces slightly to 160p per share, still materially above current levels.

Read new research note/hear summary below: https://www.equitydevelopment.co.uk/research/strong-growth-customer-acquisition-costs-fall?hs_preview=hqUYCIfT-88704732445

Posted at 21/7/2022 07:58 by edmonda
#PBEE PensionBee has continued to grow its customer base in line with targets, with a 72% annual increase in invested customers1 to 159k on 30 Jun 22 from 92k on 30 Jun 21 (+36% over H1-22 from 117k on 31 Dec 21). It remains on track to meet our forecast of 200k by the end of FY22. Registered customers2 (a ‘top of sales funnel’ metric) grew 66% y-o-y from 538k on 30 Jun 21 to 897k (+36% over H1 from 658k on 31 Dec 21). The rate of customer growth is evidence that the post-IPO ramp-up in marketing spend is having the planned ‘scale-up’ impact.

While PensionBee has certainly met our growth forecasts in terms of customer numbers, market falls have pegged back AUA growth, and we have reduced our AUA, revenue and profit growth forecasts accordingly, and will refine these, and our longer-term forecasts with H1-22 results on 22 Sep 22.

Our AUA forecast for end-FY22 reduces to £3.6bn (from previous forecast of £4.3bn but +39% over FY21); revenue forecast for FY22 reduces to £18.8m (from £21.1m but +47% over FY21, with PensionBee guiding for revenue to be in the range of £17-£20m); and our adjusted EBITDA forecast reduces to -£20.9m (from -£16.4m, with PensionBee still guiding positive adj. EBITDA by FY24). In turn, our fundamental value adjusts to 200p per share from 230p.

https://www.equitydevelopment.co.uk/research/customer-growth-on-track-markets-slow-aua-gains

Posted at 21/4/2022 07:21 by edmonda
In Q1 of FY22, PensionBee has reported an 18% quarterly increase in invested customers from 117k on 31 Dec 21 to 138k on 31 Mar 22, a y-o-y growth rate of 70% (31 Mar 21: 81k), and is on track to meet our forecast of 200k+ by the end of FY22 (f’cast annual growth 73%). Importantly, ‘registered customers’ (a ‘top of sales funnel’ metric) jumped by 141k from 658k on 31 Dec 21 to 799k, an increase far in excess of the previous quarter (+56k Oct-Dec 21).

PensionBee has reiterated its confidence in achieving its previous revenue guidance of £20m+ for FY22, as well as its medium-term guidance. It appears on-track to meet our previous forecasts and we maintain our fundamental value of 230p per share, over 60% above the current share price.

https://www.equitydevelopment.co.uk/research/marketing-investment-bearing-fruit-growth-on-track

Posted at 25/6/2021 10:06 by strollingmolby
I saw a large PBEE advert at one of the Streatham rail stations as I went through recently. I wonder how effective these are generally, and also when fewer journeys are being made...?
Posted at 29/4/2021 15:17 by dingdong62
rossannan i am customer and shareholder. i transferred my fire brigade pension over to PBee and it was dead easy. new to all this and buying shares also but I have been having some success with a few companies and I'm impressed with PBee.
RTN did really well for me and gave me a 75% profit when I sold recently
I have invested in STX, AFC Energy, Mustang Energy, XTR and all looking good

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