My Food Bag Group (MFB) H2 2026 earnings summary

Executive summary

• FY 2026 revenue reached $170.2 million, up 5.0% year-over-year, with EBITDA at $16.4 million and net profit after tax at $6.7 million, a 5.3% increase from FY 2025, driven by higher volumes, improved retention, and order frequency.

• Focused on growing quality active customers, improving retention, loyalty, and order frequency through enhanced flexibility, convenience, and value; active customers totaled 57.1k.

• Expanded product offerings, including health-led meal plans, ready-made meals, and new channels such as gifting and flexible one-off meals.

• Employee engagement and operational efficiency improved, supporting execution of strategic objectives.

• Final dividend declared at 1.15cps, fully imputed, with total FY26 dividend 1.90cps, representing 72% of NPAT and a yield of 10.1%.

Financial highlights

• Gross margin held at 49.0%, above the five-year average, despite 3.4% ingredient cost inflation.

• Contribution margin stable at 21.2%, supported by cost control and productivity gains.

• Free cash flow increased to $8.5 million, enabling further debt reduction and higher dividends.

• Net debt reduced to $1.9 million, down $5.1 million year-over-year, strengthening the balance sheet.

• Average order value rose 2.8% year-over-year to $133.7, driven by brand mix and pricing actions.

Outlook and guidance

• FY 2027 strategy centers on brand value, convenience, flexibility, and targeting new audiences, with a pipeline of initiatives to drive active customer growth.

• First seven weeks of FY 2027 saw revenue up 5.1% year-over-year, indicating positive momentum.

• Facing rising distribution, packaging, and ingredient costs, with mitigation through supply chain optimization and balanced pricing.

• Board commenced a review of ownership, capital structure, and strategic options; process in preliminary stages with no certainty of transaction.