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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) reported a strong performance for Q3 2022, with revenue rising by 26.7% to €760 million and organic revenue growth of 7.2%. The gross margin improved by 110 basis points to 29.1%, and Adjusted EBITDA surged 35.3% to €153 million. The company maintained its Adjusted EPS guidance at €1.65 - €1.71 for the full year, indicating positive growth potential. With double-digit price increases implemented to counteract rising costs, Nomad Foods positions itself for sustained growth into 2023.
Nomad Foods (NYSE: NOMD) will release its third quarter 2022 results on November 9, 2022, before the NYSE market opens. A conference call with the executive management team is planned for 8:30 AM EDT the same day.
Listeners can join the call via North American dial-in at +1-844-826-3033 or international dial-in at +1-412-317-5185. The event will also be webcast on the Nomad Foods website, with a replay available for two weeks post-event.
Nomad Foods Limited (NYSE: NOMD) will participate in a fireside chat at the Barclays Global Consumer Staples Conference on September 7, 2022, at 11:15 a.m. ET in Boston, MA. Key executives attending include Stefan Descheemaeker, Samy Zekhout, and Anthony Bucalo. An audio webcast will be accessible through Nomad Foods' website. Nomad Foods is Europe's leading frozen food company, known for brands like Birds Eye and Findus.
Nomad Foods (NOMD) reported a 17.0% increase in revenue, reaching €697 million for Q2 2022, although organic revenue declined by 3.2%. The company adjusted its full-year EPS guidance to €1.65 - €1.71 from €1.71 - €1.75 due to economic challenges, including the ongoing war in Ukraine. Reported profit for the period was €75 million with an unchanged adjusted EPS of €0.40. Despite these challenges, the management remains optimistic about long-term growth, aiming for a target of €2.30 EPS by 2025.
Nomad Foods Limited (NYSE: NOMD) is set to report its second-quarter results for the period ending June 30, 2022, before the market opens on August 10, 2022. A conference call with the executive management team will begin at 8:30 AM EDT on the same day, where they will discuss the results in detail. North American listeners can dial +1-877-300-8521, while international participants can call +1-412-317-6026. The call will also be available via webcast on the company’s website, with a replay accessible for two weeks.
Nomad Foods Limited (NYSE: NOMD) will participate in a fireside chat at the 19th Annual dbAccess Global Consumer Conference in Paris on June 15, 2022, at 10:45 a.m. ET. CEO Stefan Descheemaeker and CFO Samy Zekhout will lead the discussion. The event will be webcasted live on the company’s website, enhancing accessibility for investors and stakeholders. Nomad Foods is Europe's leading frozen food company, boasting iconic brands like Birds Eye and Findus, known for their convenient and nutritious offerings.
Nomad Foods (NYSE: NOMD) reported a 3.6% increase in revenue to €733 million for Q1 2022, despite an organic revenue decline of 4.5%. Adjusted EPS fell 8.5% to €0.43, while reported profit rose to €56 million. The company maintains its full-year adjusted EPS guidance of €1.71 - €1.75, indicating potential growth of 10-13%. Management emphasized resilience amidst macro challenges, including supply chain disruptions due to the Ukraine conflict and inflation. Share repurchases and investment in the Fortenova acquisition are part of their growth strategy.
Nomad Foods is urging the food industry in Europe to adopt a comprehensive end-to-end Life Cycle Assessment (LCA) to better evaluate the environmental impact of food products. The company emphasizes the importance of understanding food waste and its contribution to carbon emissions in the product life cycle. A recent study conducted on 22 of its popular frozen food products revealed that retail and consumer waste contributes to over 160 million tonnes of food waste and 17.25 million tonnes of CO2 emissions in the EU and UK. The study indicates that many frozen food items have lower carbon footprints compared to non-frozen alternatives.
Nomad Foods, a leader in Europe’s frozen food sector, is urging the food industry and regulators to adopt a comprehensive approach to Life Cycle Assessment (LCA) studies. This approach emphasizes food loss and waste impacts to enhance consumer transparency and drive carbon emission reductions. A recent LCA study involving 22 popular frozen products revealed that most had an equal or lower carbon footprint compared to non-frozen alternatives. The study, conducted in collaboration with PRé Sustainability, aims to encourage better environmental practices in food production.
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