Maggie Beer Holdings (MBH) has accelerated a strategic review of its Hampers & Gifts Australia (HGA) division following unsolicited and non-binding approaches from external parties.
In a market update ahead of its 1H26 results on 27 February, the board said the review would assess how best to deliver value creation through potential alliances, mergers or a change in ownership structure.
The move comes as the company navigates an increasingly competitive and discount-driven ecommerce environment and seeks to unlock shareholder value in HGA, which it describes as a leading online hampers and gifting platform.
HGA is expected to deliver first-half revenue of approximately $34.5 million and statutory EBITDA from continuing operations of around $3.1 million for the first half.
The company said any decision would be made in the long-term interests of shareholders rather than short-term trading considerations.
Core division stabilising
The Maggie Beer Products division, central to management’s turnaround plan, is expected to deliver roughly $18.8 million revenue in 1H26 and contribute around $0.4 million to statutory EBITDA.
Group revenue for the first half is forecast at $52.9 million, compared to $53.8 million in the prior corresponding period, with EBITDA from continuing operations expected to be around $2 million, down from $3.1 million a year earlier.
At its AGM in December, the board outlined a pathway back to sustainable profitability, centred on cost discipline, portfolio focus and operational simplification following a challenging FY25 in which the company reported a statutory loss.
The group has since implemented a corporate overhead reduction program, delivering more than $1 million in savings during the first half and tracking toward more than $2 million in annualised savings for the full year.
Balance sheet strengthened after capital raise
Following the completion of a shareholder-supported placement in December 2025, MBH reported total net assets of $39 million and a net cash position of $12.6 million as at 31 December 2025, with an additional $6.8 million in undrawn facilities.
The strengthened balance sheet follows a period of heightened market interest in the company, with major shareholders previously positioning around the stock as the turnaround strategy took shape.
The acceleration of the HGA review signals a willingness by the board to reshape the portfolio if it supports value realisation and capital efficiency, particularly in light of ongoing ecommerce margin pressures.
Further detail on performance and strategic direction is expected when the company releases its full 1HFY26 results on 27 February 2026.
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