Added to YB: 2025-01-21
Pitch date: 2025-01-20
MFB.NZ [bullish]
My Food Bag Group Limited
+26.63%
current return
Author Info
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Company Info
My Food Bag Group Limited engages in creating and delivering meal kits, pre-prepared ready-to-heat meals, and grocery items in New Zealand.
Market Cap
NZD 49.8M
Pitch Price
NZD 0.19
Price Target
0.41 (+71%)
Dividend
6.34%
EV/EBITDA
4.58
P/E
10.25
EV/Sales
0.42
Sector
Consumer Staples Distribution and Retail
Category
turnaround
New Zealand Economic Recovery: Trade Basket - My Food Bag Group Limited
MFB.NZ: NZ meal kit leader, duopoly w/ HelloFresh. IPO down 88%, now 8% EBITDA margin. Sector struggles reduce competition. New tech boosts efficiency. HelloFresh NZ sales -31% vs MFB -8%. 3% volume growth could expand margins to 11%, FCF to $10M in 24mo. Risks: discount-driven volumes. 3 scenarios: -10% deliveries = worthless, stable = 10-20c, low growth = 2x+
Read full article (4 min)