My Food Bag releases FY22 Results

My Food Bag (NZX/ASX Code: MFB), Aotearoa New Zealand’s subscription-based meal kit and food solutions business, has delivered record FY22 revenue of $194 million, up $7.6 million on Prospective Financial Information (PFI) and up $3.3 million on FY21.

Pro-forma EBITDA of $34.2 million, up 18.1% on FY21 and Net Profit After Tax (NPAT) of $20.0 million, up from $2.4 million in FY21, have also been achieved.

A final fully imputed dividend of 4.0 cents per share was declared, bringing total dividends in respect of FY22 to 7.0 cents per share.

The company delivered in excess of 18 million meals across FY22, and achieved an average order value of $126.60.

My Food Bag’s innovation programme continued to deliver strong outcomes in FY22, including the launch of their first significant step beyond weeknight meals, the My Food Bag Kitchen.

Chairman Tony Carter says the results show the company delivered in line with their PFI forecasts, and CEO Kevin Bowler expects continued strong performance with opportunities to grow in FY23.