Me Today Full Year Results to 31 March 2021

Listed health and wellness business, Me Today Limited (NZX: MEE), has announced its audited results for the year ended 31 March 2021 (FY21), reporting strong progress as it invests into building the Me Today brand and business globally.

Highlights for the 12 months ended 31 March 2021 include:
• Renewed the retail distribution agreement with Green Cross Health in New Zealand, with the Me Today range now stocked in 300 Unichem and Life pharmacies around the country, and access opened up to other select retailers
• New global distribution partnerships signed in Japan, Ireland and Australia, providing access to hundreds of new retail outlets
• Launched Tmall and Little Red Book Me Today flagship stores in China, providing a direct link to the Chinese consumer via the cross border ecommerce channel
• Developed and launched nine new supplements and eight skincare products, as well as a series of gift packs for Christmas 2020
• Significant investment into building the Me Today brand, with creative advertising and social media campaigns, as well as securing protection of brand IP around the world
• Signed two global brand ambassadors – Olympian Sarah Walker and rugby star, Beauden Barrett
• Further established The Good Brand Company as a reliable supplier to the Pharmacy and Health store retail channels

Me Today’s financial results for the FY21 year reflect the investment being made into establishing and growing the start-up business to achieve its global vision and are in line with management expectations.

Total gross revenue of the company for the year was $1.5m. After deducting the value of marketing services provided by a customer, total group revenue was $1.1m, a 102% increase on the prior year.
The company recorded an operating loss of $2.9m, an increase of $2.1m on the operating loss of $0.8m recorded in the prior year. Sales are expected to escalate over the 12 months to 31 March 2022 as the company continues to execute the Invest and Grow strategy. Based on the new distribution agreements achieved in FY21 and traction to date, gross revenue for FY22 is expected to be at least $3m.

A capital raise was successfully completed during the period, providing $4.3m in additional growth capital. As at 31 March 2021, Me Today had cash of $5.0m to support the planned growth strategy of the company.

Me Today, which listed on the NZX on 1 April 2020, is targeting the $128+ billion global supplements and natural skincare markets.

CEO of Me Today, Michael Kerr, said: “There is huge potential for a new and modern brand, such as Me Today, that links supplements and natural skincare and produces premium quality products. We are very pleased with the progress we have made this year against the headwinds of the Covid pandemic and excited about the global opportunity in front of us.

“Our focus remains on building awareness and sales of Me Today products, by continuing to invest into marketing, new product development and delivery methods that help ensure great results for our customers. We have established some great retail partnerships and ecommerce channels this year, and this focus will continue for both our Me Today and agency brands, in New Zealand and offshore. There is growing interest in Me Today from retailers and distributors around the world and we expect our retail distribution to further expand in FY22.
“In New Zealand, our renewed arrangement with Green Cross Health allows us to expand distribution into select independent pharmacies, health stores and online retailers as well as 300 Unichem and Life pharmacies, while in Japan, a collaboratively developed new range of Me Today products will be stocked in retail stores owned by MASH Beauty Lab from October 2021 onwards. New distribution partnerships in Australia and Ireland will also see selected products launched into those markets in the second half of the 2021 calendar year. We will continue to invest into marketing and promotion around these platforms in order to drive sales and awareness in these new markets.
“We will also continue to invest in our products and people. We have built up a great team over the last year, particularly in sales, marketing, product and innovation, and will further develop our team to drive our growth. Innovation remains an essential ingredient in our success as we research, formulate and deliver premium products to market that are efficacious, beautifully designed and easy on the environment.”
Chairman Grant Baker said: “Both the Supplements and the Natural Skincare categories in New Zealand and overseas have experienced significant growth in recent years and Me Today is carving a strong place for itself in these high value markets. We see significant opportunity to further expand the product offering and take advantage of new trends within the health, beauty and wellbeing spaces. Our focus remains on taking our brand to the world and we have made great progress in just our first 12 months.
“The company is excited about the growth opportunities in the year ahead for Me Today and the group including the acquisition of King Honey which was announced today. King Honey Is an impressive Manuka Honey business which is well established to provide a platform for future growth. It complements the Me Today brand and the acquisition will enable Me Today to expand its existing lifestyle, health and wellness businesses”.
ENDS

For further information, please contact.
Michel Kerr
CEO, Me Today Limited
021 836 451
[email protected]

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Announcement PDF