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Nomad Foods Limited (NYSE: NOMD) is Europe's leading frozen food company, employing approximately 8,000 people across 22 markets and operating 19 factories. Headquartered in the United Kingdom, Nomad Foods is renowned for its portfolio of iconic brands including Birds Eye, Findus, iglo, Aunt Bessie's, and Goodfella's, which have been a staple in households for generations, offering great tasting, convenient, high-quality, and nutritious food.
The company specializes in the manufacturing and distribution of branded frozen foods across Western Europe, including categories such as fish, vegetables, poultry, ice cream, and ready meals. In the UK and Ireland, its products are sold under the Birds Eye brand, while in Italy, France, Spain, and Scandinavia, they are known under the Findus brand, and in Germany and other continental markets, under the Iglo brand.
Nomad Foods operates through a single segment, 'Frozen', with the majority of its revenue generated from the United Kingdom. The company continues to focus on growth through strategic investments, product innovation, and operational excellence.
Recent Achievements and Financial Performance
- On September 18, 2023, Nomad Foods announced the repricing of its USD 700 million Term Loan B, expected to result in approximately €5 million of annual cash interest savings.
- For the nine months ended September 30, 2023, the company raised its Adjusted EPS guidance range to €1.57 to €1.60, reflecting its strong operational performance and strategic investments.
- On February 2, 2024, the company successfully repriced its EUR 130 million Term Loan B, leading to additional annual cash interest savings.
- Nomad Foods reported a solid start to 2024 with sequential improvement in volumes and market share, maintaining its full-year revenue growth guidance of 3%-4% and Adjusted EPS of €1.75-€1.80.
Strategic Initiatives
- Implementation of a quarterly dividend starting in 2024, subject to board approval, underscoring the company’s commitment to shareholder returns.
- Ongoing share repurchase programs, including a new $500 million authorization replacing the previous one expiring at the end of 2023.
- Continued focus on innovation and marketing investments, enhancing brand strength and market presence.
Nomad Foods remains well-positioned for long-term growth, leveraging its strong brand portfolio, robust supply chain, and commitment to operational efficiency. For more information, visit www.nomadfoods.com.
Nomad Foods Limited (NYSE: NOMD) has announced it will report its first-quarter results for the period ending March 31, 2023, before the market opens on May 10, 2023. A conference call to discuss these results will begin at 8:30 AM EDT on the same day.
Listeners from North America can join by dialing +1-844-826-3033, while international participants can call +1-412-317-5185. A presentation will accompany the call, which will also be webcast live on the company's website.
A replay of the call will be available for two weeks, accessible via +1-844-512-2921 for North America and +1-412-317-6671 for international listeners, using replay pin number 10177893.
Nomad Foods (NYSE: NOMD) revealed that CEO Stefan Descheemaeker and Anthony Bucalo, Head of Investor Relations, will join a fireside chat at the UBS Global Consumer and Retail Conference in New York, NY on March 16, 2023, at 8:00 a.m. ET. An audio webcast of the event will be accessible on the Nomad Foods website. The company is renowned for being Europe’s leading frozen food provider, featuring iconic brands such as Birds Eye, Findus, and iglo.
Nomad Foods Limited (NYSE: NOMD) has made its annual report for the fiscal year ending December 31, 2022 available to shareholders. This comprehensive document includes audited financial statements and was filed with the U.S. Securities and Exchange Commission on February 23, 2023. Shareholders can access the report via the company's website or request a hard copy free of charge. Nomad Foods, headquartered in the UK, is Europe's leading frozen food company, known for well-established brands like Birds Eye and Findus. For more details, visit www.nomadfoods.com.
Nomad Foods (NYSE: NOMD) reported robust financial performance for 2022, achieving record annual revenue of €2.94 billion, up 12.8% year-over-year. The company also reported an Adjusted EPS of €1.68, a rise of 8%. For Q4 2022, revenue increased 6.6% to €750 million, with an Adjusted EBITDA of €113 million. The company plans to achieve 2023 Adjusted EPS between €1.50 and €1.55, assuming mid-single-digit revenue growth. Management notes the resilience of its operating model amid challenging market conditions and highlights the strong cash flow and financial flexibility to drive future growth.
Nomad Foods Limited (NYSE: NOMD) will announce its fourth quarter and full year 2022 results on February 23, 2023, before the market opens. A conference call will follow at 8:30 AM EST, allowing participation via North American and international calls. Additionally, Nomad's CEO Stefan Descheemaeker and CFO Samy Zekhout will present at the 2023 CAGNY Conference at 4:00 PM EST on the same day in Boca Raton, FL. Access to the live call and presentation will be available on the Nomad Foods website, where a replay will also be posted for two weeks.
Nomad Foods Limited has successfully issued a USD 700 million term loan and a EUR 130 million term loan, both maturing in 2029. The proceeds will be used to repay an existing USD 960 million term loan due in 2024 and cover transaction expenses. CFO Samy Zekhout expressed confidence in the refinancing, noting the favorable terms reflect the company's solid cash flow and business model. This refinancing extends debt maturities and provides interest rate certainty through new hedging arrangements. The loans will be secured by the company and its subsidiaries.
Nomad Foods Limited (NYSE: NOMD) reported a strong Q3 2022, achieving revenue growth of 26.7% to €760 million, driven by a 7.2% organic growth and acquisitions. Adjusted EPS increased 48.6% year-on-year to €0.52. Adjusted EBITDA rose 35.3% to €153 million. The company reaffirmed its full-year Adjusted EPS guidance of €1.65 to €1.71, indicating confidence in sustained growth and profitability. Debt refinancing positions the company for favorable long-term financing, with 75% of debt fixed until 2027.
On November 8, 2022, Nomad Foods announced the pricing of two term loans: a USD 700 million loan with a SOFR rate plus 3.75%, and a EUR 130 million loan with EURIBOR plus 3.5%, both due in 2029. The company will utilize the proceeds to repay an existing USD 960 million term loan maturing in 2024 and for general corporate expenses. Closing of the loans is expected on November 10, 2022, contingent upon standard conditions. Nomad Foods is a leading frozen food company in Europe, known for its brands like Birds Eye and Findus.
Nomad Foods announced a refinancing initiative to replace its USD 960 million Term Loan B due in mid-2024 with a new USD 825 million seven-year term loan. The refinancing aims to cover the existing loan and will include meetings with lenders anticipated soon. However, the company has cautioned that there are no guarantees regarding the refinancing's completion or terms. This information is not an offer to sell or solicit securities.
Nomad Foods is a leading European frozen food company.
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