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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 (NYSE: NOMD) will have CEO Stefan Descheemaeker and CFO Samy Zekhout at the Barclays Global Consumer Staples Virtual Conference on September 9, 2021, at 12:40 p.m. ET. Investors and interested parties can listen to the audio webcast on Nomad Foods’ official website. As Europe’s leading frozen foods company, Nomad Foods boasts popular brands like Birds Eye and Findus, known for their high-quality and nutritious products. For more details, visit Nomad Foods.
Nomad Foods (NYSE: NOMD) reported Q2 2021 financial results showing a 1% revenue decline to €596 million and an organic revenue decline of 4.5%. However, adjusted EBITDA increased 4% to €123 million, and adjusted EPS rose 18% to €0.40. Profit for the period was €51 million. The company reiterated its 2021 guidance with revenue and adjusted EBITDA growth of 3-5% expected. A new share repurchase authorization of up to $500 million was approved, replacing the nearly exhausted previous program.
Nomad Foods Limited (NYSE: NOMD) will announce its second quarter results on August 5, 2021, before market opening. The conference call with the executive management team is scheduled for the same day at 8:30 AM EDT. This call will provide insights and discussions regarding the financial results. A live audio webcast and presentation will be accessible on Nomad Foods' investor relations website, with a replay available for two weeks post-event. Nomad Foods is recognized as Europe's leading frozen food company, featuring well-known brands such as Birds Eye and Findus.
Nomad Foods Limited announces the completion of a private offering by its subsidiary, Nomad Foods BondCo Plc, of €50.0 million in additional 2.50% senior secured notes due 2028. This offering supplements the previously issued €750.0 million notes. The net proceeds will support general corporate purposes, aimed at enhancing the company’s capital structure and liquidity position, according to CFO Samy Zekhout. The new notes will be traded on the Euro MTF market of the Luxembourg Stock Exchange.
Nomad Foods announces that its subsidiary, Nomad Foods BondCo Plc, has priced a private offering of €50 million in additional 2.50% senior secured notes due 2028. This offering is a tack-on to a previously issued €750 million in senior secured notes. The Additional Notes will be guaranteed by the Company and some subsidiaries, and they are expected to trade on the Euro MTF market in Luxembourg. The expected closing date is July 9, 2021, but completion is subject to market conditions. The offering does not constitute an offer to sell in the U.S.
Nomad Foods Limited has announced the pricing of €750 million in senior secured notes due 2028, with an interest rate of 2.500%. The proceeds will refinance existing debt and support the acquisition of Fortenova Group's Frozen Food Business. The company is also refinancing a €553 million senior secured term loan and upsizing its revolving credit facility to €175 million. The Refinancing is set to close on June 24, 2021, pending customary conditions. The Notes will be senior secured obligations guaranteed by Nomad Foods and its subsidiaries.
Nomad Foods Limited has announced an offering of €750 million in senior secured notes due 2028, subject to market conditions. The proceeds will refinance existing loans and support the acquisition of Fortenova Group's Frozen Food Business. The notes will be guaranteed by Nomad Foods and its subsidiaries. The company plans to redeem existing notes due in 2024 after successful completion of this offering. Completion of the refinancing is not assured, and further guidelines on the issuance are provided.
Nomad Foods Limited (NYSE: NOMD) plans to refinance its existing €553 million senior secured term loan with a new 7-year facility and increase its revolving cash flow facility to €175 million for 5 years. Additionally, the company is considering up to €750 million in new senior secured financing, potentially to repay €400 million in senior secured notes due 2024, fund the acquisition of Fortenova Group’s Frozen Food Business Group, and cover transaction expenses. Post-transaction, Nomad expects a leverage ratio of approximately 3.7x.
Nomad Foods Limited (NYSE: NOMD) announced that CEO Stefan Descheemaeker and CFO Samy Zekhout will participate in a fireside chat at the 18th Annual dbAccess Global Consumer Virtual Conference on June 9, 2021, at 7:00 a.m. ET. The session will cover insights into the frozen food market and the company's strategies. A webcast of the discussion will be available on Nomad Foods’ official website, allowing investors and analysts to gain valuable information about the company’s outlook in the consumer sector.
Nomad Foods reported Q1 2021 financial results, showing a 3.6% increase in revenue to €707 million and 1.8% organic growth. Adjusted EBITDA rose 15% to €138 million, with a 42% increase in adjusted EPS to €0.47. The company experienced 180 basis points margin expansion, benefiting from improved gross margins. Management reiterated 2021 guidance expecting revenue and adjusted EBITDA growth of 3-5% and adjusted EPS of €1.50 to €1.55. Future acquisitions may enhance market reach, with plans to integrate Findus Switzerland and close the Fortenova deal.
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