My Food Bag Group Limited Analysis

Overview

My Food Bag is an online food delivery business and New Zealand’s longest standing meal kit provider. Each week My Food Bag delivers thousands of bags full of nutritious, locally sourced ingredients along with easy-to-follow recipes direct to families across New Zealand. My Food Bag offers a broad range of meal kit bags in New Zealand under the My Food Bag, Bargain Box and Fresh Start brands and also has a range of ready-made meals with the MADE brand. Visit www.myfoodbag.co.nz.

Performance

The following information was extracted from My Food Bag Limited's Full year results, released 22 May 2025

My Food Bag records 5% growth in H2 with full year profitability up 5%

• Revenue of $162.1 million, inline with FY24
• EBITDA of $16.1 million, compared to $16.0 million in FY24 (1)

-NPAT of $6.3 million, up 5% on $6.0 million in FY24

-Net debt reduced by $4.9m to $6.9m and free cash flow of $7.6m

• FY25 H2 revenue growth of 5% on a normalised year on year basis (2)

-Successful launch of the Shop, offering one off purchases without a subscription

• Fully imputed final dividend of 0.85 cent per share declared, payable in June

-My Food Bag has established a Dividend Reinvestment Plan, which will operate for the upcoming dividend

Meal kit and food solutions business, My Food Bag Group Limited, today reported EBITDA of $16.1 million for the twelve months to 31 March 2025 (FY25), and a return to growth in the second half of FY25, building on a stable performance in a challenging retail environment. Revenue for FY25 was $162.1 million, consistent with the prior year. Notably, second-half revenue reached $79.9 million, representing a 5.0% increase on a normalised(2) year-on-year basis and a 1.9% lift compared to the first half of FY25.