Key Highlights

  • HY26 Revenue was AUD 41.3mn, down 6.0%.
  • Underlying Centre EBITDA was AUD 3.1mn with a 7.5% margin.
  • Underlying Group EBITDA was a loss of AUD 0.8mn.
  • Pro forma available Liquidity was approximately AUD 5.2mn after the entitlement offer.

Mayfield Childcare (ASX: MFD) enters the second half of FY26 with a mixed operating picture. Revenue declined as average occupancy softened, but tighter roster management helped keep the underlying centre EBITDA Margin broadly stable. At the same time, liquidity has become an important part of the company’s financial focus.

Revenue Slips With Occupancy

Mayfield reported HY26 revenue of AUD 41.3mn, down 6.0%. Childcare services revenue declined by AUD 2.6mn to AUD 41.2mn, primarily due to lower average occupancy, partly offset by fee increases.

Centre-Level Margins Hold Up

Underlying Centre EBITDA was AUD 3.1mn compared with AUD 3.4mn in HY25, while the margin was 7.5% versus 7.8%. The company said improved labour efficiency supported the broadly stable margin despite lower occupancy.

Group EBITDA Remains Negative

Underlying Group EBITDA was a loss of AUD 0.8mn compared with a loss of AUD 0.1mn a year earlier. Mayfield attributed the movement to lower revenue, increased Marketing and enrolment investment, higher maintenance costs and costs associated with responding to the Embark Early Education takeover.

Liquidity Becomes a Key Measure

Operating cash inflow was AUD 0.9mn in HY26 compared with AUD 3.1mn in HY25. The company said pro forma available liquidity increased to approximately AUD 5.2mn after the entitlement offer, while the Westpac Facility Maturity was extended to September 2027. Future performance will depend on occupancy, enrolment growth and cost control.