1HFY25 Results Announcement

• MBH achieves 5.8% top-line growth in H1 FY25
• Company targets up to $4 million in annualised cost savings
• Hamper sales up 6%, Maggie Beer Products net sales up 5%

Maggie Beer Holdings Ltd (MBH) today announced its financial results for the half year ended 31 December 2024 (H1 FY25). The company returned to top-line growth in the first half with continuing operations up 5.8%, reflecting stronger trading momentum. Hamper sales were up 6% on the previous corresponding period (pcp) with Maggie Beer Products net sales also up 5% on the pcp. Operationally, the company is delivering on material improvements in key financial measurements including sales growth, inventory reduction, working capital and margin. The financial focus in the second half will be on delivering targeted annualised cost reductions of up to $4 million to improve earnings in both the short and longer term whilst maintaining continued growth in the revenue of both the E-Commerce Hampers and South Australian headquartered business units. The company is forecasting to deliver annualised cost reductions in the range of $3.5 million to $4 million through the simplification of its operations including organisational structure, group margin improvements, labour alignment, along with overhead and inventory management. Continued operations targets annualised gross margin saving of $1.5 million and Cost of Doing Business savings of $2.0 million to $2.5 million. These savings do not include Paris Creek Farm, which is already demonstrating improved gross margins and improved operating cash flow following initiatives implemented during the half.

The company is forecasting to deliver annualised cost reductions in the range of $3.5 million to $4 million in the 2025 financial year.

The company's financial focus in the second half will be on delivering targeted annualised cost reductions of up to $4 million to improve earnings in both the short and longer term whilst maintaining continued growth in the revenue of both the E-Commerce Hampers and South Australian headquartered business units.