My Food Bag Group Ltd. · NZX:MFB
My Food Bag — Shareholder Meeting (August 2023)
27 slides from My Food Bag's shareholder meeting presentation, Aug 17, 2023
Slide 1: August 2023
August 2023
Slide 2: Board of Directors
Board of Directors Tony Carter Jennifer Bunbury Sarah Hindle Independent Chair Independent Independent Non-Executive Director Non-Executive Director Cecilia Robinson Mark Powell Jon Macdonald MY FOOD BAG Non-Executive Director Independent Independent ANNUAL MEETING 2 Non-Executive Director Non-Execu
Slide 3: Agenda
1 Chairperson’s address 2 CEO’s update 3 Financial statements 4 Ordinary resolutions 5 Other business MY FOOD BAG ANNUAL MEETING 2023 |
Slide 4: Chairperson's address
1 Chairperson’s address MY FOOD BAG ANNUAL MEETING 2023 |
Slide 5: Tony Carter, Chair
Tony Carter Chair MY FOOD BAG ANNUAL MEETING 2023 |
Slide 6: FY24 - Trading outlook
FY24 - Trading outlook • We anticipate the economic environment will continue to be tough for some time • Our financial results for the upcoming half year are expected to be behind the prior year due to the category- wide reduction in demand that we experienced in the second half of FY23 • Demand se
Slide 7: CEO's update
2 CEO’s update MY FOOD BAG ANNUAL MEETING 2023 |
Slide 8: Mark Winter, CEO
Mark Winter CEO MY FOOD BAG ANNUAL MEETING 2023 |
Slide 9: FY23 - Year in review
FY23 - Year in review REVENUE AVERAGE ORDER VALUE (AOV) $175.7m ACTIVE CUSTOMERS $130.11 57.5k at 31 March 2023 EBITDA* $18.2m GROSS MARGIN % TOTAL DIVIDEND** NPAT 48.4% 3.0cps $7.9m *EBITDA is a non-GAAP measure. A reconciliation from GAAP NPBT to non-GAAP EBITDA can be found on page 58 of the 2023
Slide 10: FY23 - Year in review
FY23 - Year in review Implementation of pick technology driving better customer experience and productivity Increased choice offering across all brands, including variety and number of recipes Bargain Box growth, with active customers up 12% YoY Expanded Kitchen offering driving up average order val
Slide 11: Focused on initiatives to grow active customers
Focused on initiatives to grow active customers Be relevant and drive active customers by delivering flexibility, convenience, and great value Growing awareness Deliver flexibility Re-invigorate Expand the Kitchen of Bargain Box Fresh Start affordability 1. Highlight comparison to 1. Expand recipe c
Slide 12: Bargain Box affordability a competitive edge
Bargain Box affordability a competitive edge We have continued to leverage our brand portfolio with a focus of awareness and value of Bargain Box • Active customers up year on year 12% • Strengthened the affordability message with compelling results from a recent comparison to online supermarket pri
Slide 13: Enhanced customer experience with increased recipe choice
Enhanced customer experience with increased recipe choice Recipe option expansion across all brands My Food Bag 32 +113% 15 Using this Pick Technology capability along implementation Apr-22 Current with recipe Fresh Start delivers a development 15 platform for +36% with added 11 innovation variety a
Slide 14: Supply chain optimisation
Supply chain optimisation Investments in supply chain made to improve compliance, efficiency and create capacity for growth • New pick technology implemented, driving: Reduced Allows for Improved picking and more NPS results • productivity savings in labour, customer credits and quality issues appro
Slide 15: Right-sizing our cost base
Right-sizing our cost base We have reviewed our fixed cost base and removed cost to match our current demand profile • Completed a restructure of our non-operational team in March 2023, resulting in the number of people across this group reducing by approximately 10% • The implementation of pick tec
Slide 16: Capability
capability Investment in learning and development Culture revitalisation to underpin key strategic objectives Won HRNZ award for Organisational Change and Development Advancing diversity and inclusion MY FOOD BAG ANNUAL MEETING 2023 |
Slide 17: Financial statements
Financial statements MY FOOD BAG ANNUAL MEETING 2023 |
Slide 18: Financial statements
Financial statements • Opportunity for shareholders to ask any questions specifically on the financial statements, the auditor’s report or the company’s 2023 annual report. • There will be an opportunity to ask any general questions once all items on the agenda have been considered. MY FOOD BAG ANNU
Slide 19: Ordinary resolutions
Ordinary resolutions MY FOOD BAG ANNUAL MEETING 2023 |
Slide 20: Ordinary resolution 1
Ordinary resolution 1 Re-election of Sarah Hindle That Sarah Hindle, who retires at the annual meeting and is eligible for re-election, be re-elected as a Director of My Food Bag. The Board unanimously supports resolution 1 and recommends that shareholders vote in favour. MY FOOD BAG ANNUAL MEETING
Slide 21: Ordinary resolution 2
Ordinary resolution 2 Re-election of Jennifer Bunbury That Jennifer Bunbury, who retires at the annual meeting and is eligible for re-election, be re-elected as a Director of My Food Bag. The Board unanimously supports resolution 2 and recommends that shareholders vote in favour. MY FOOD BAG ANNUAL
Slide 22: Ordinary resolution 3
Ordinary resolution 3 Election of Mark Powell That Mark Powell, who retires at the annual meeting and is eligible for election, be elected as a Director of My Food Bag. The Board unanimously supports resolution 3 and recommends that shareholders vote in favour. MY FOOD BAG ANNUAL MEETING 2023 |
Slide 23: Ordinary resolution 4
Ordinary resolution 4 Auditor's remuneration That the Directors of My Food Bag be authorised to fix the fees and expenses of the auditor of My Food Bag for the ensuing year. The Board unanimously supports resolution 4 and recommends that shareholders vote in favour. MY FOOD BAG ANNUAL MEETING 2023 |
Slide 24: Voting – Proxies received
Voting – Proxies received Resolution For Against Proxy discretion Re-election of Sarah Hindle 84,235,717 36,200 1,517,907 (98.19%) (0.04%) (1.77%) Re-election of Jennifer Bunbury 84,213,517 58,400 1,517,907 (98.16%) (0.07%) (1.77%) Election of Mark Powell 84,389,987 38,200 1,517,907 (98.19%) (0.04%)
Slide 25: Other business
Other business MY FOOD BAG ANNUAL MEETING 2023 |
Slide 26: MY FOOD BAG ANNUAL MEETING 2023 |
MY FOOD BAG ANNUAL MEETING 2023 |
Slide 27: Disclaimer
Disclaimer This presentation has been prepared by My Food Bag Group Limited (the “Company” and, together with My Food Bag Limited, "My Food Bag") for the purpose of the annual shareholders' meeting and is dated 17 August 2023. This presentation contains summary information about My Food Bag and its
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