Key Takeaways NOMD's Q1 gross margin grew 90 bps to 27.8% despite retailer destocking and modest sales. Product innovation like Fish Bar is boosting category growth and appeal. NOMD is increasing ad spend and upgrading to keep margins strong as input costs begin to rise.Innovation lies at the heart of Nomad Foods Limited’s (NOMD) management strategy, driving long-term growth and competitive advantage. In the first quarter of 2025, despite retailer inventory destocking and modest sales, NOMD grew its gross ...

Summary of Nomad Foods Conference Call Company Overview - **Company**: Nomad Foods - **Industry**: Frozen Food Key Messages - **Category Advantage**: Nomad Foods believes it has a competitive edge in the frozen food category, which has shown strong performance over the last decade, outperforming overall food trends [3][4][19] - **Portfolio Strength**: The company has a diverse portfolio in frozen food, including fish, vegetables, chicken, ice cream, and pizza, with two-thirds of its business focused on protein and vegetables [5][6][21][23] - **Market Share Focus**: Nomad Foods emphasizes the importance of market share, stating that it has maintained an average market share of 46% in its key categories, which represent about 37% of net sales [14][24] Financial Performance - **Sales Growth**: The company has consistently increased sales and EBITDA over the past nine years, with growth rates of 6%, 7%, and 10% in recent years despite market challenges [8][9] - **EBITDA Guidance**: For the current year, Nomad Foods expects EBITDA growth between 2% and 6%, with adjusted EPS projected between €1.82 and €1.89 [66][69] - **Free Cash Flow**: The company has generated over €2 billion in adjusted free cash flow from 2017 to 2024, with expectations of around €850 million in the coming years [69][70] Market Dynamics - **Category Growth**: The frozen food category is projected to grow at 2% in value and 1% in volume, with Nomad Foods stabilizing its market share despite some seasonal fluctuations [61][63][65] - **Competitive Landscape**: The company acknowledges the competitive pressure from private labels but remains focused on innovation and brand strength to maintain its market position [76][80] Innovation and Product Development - **Innovation Strategy**: Nomad Foods aims to increase its innovation rate, targeting 6.5% of its product offerings to be new innovations, leveraging successful products from one market to introduce in others [27][28][34] - **Product Renovation**: The company is committed to improving existing products, with a goal to enhance taste and quality, particularly in categories like pizza and fish fingers [31][33][34] Challenges and Opportunities - **Inflation Impact**: The company faced inflationary pressures, particularly in protein costs, which affected gross margins. However, it has chosen not to reopen negotiations with retailers to adjust pricing immediately [66][67] - **M&A Strategy**: Nomad Foods remains open to M&A opportunities but emphasizes a disciplined approach, focusing on synergies and avoiding high multiples [100][102] Future Outlook - **Long-term Growth Potential**: The company sees significant growth potential in frozen food, particularly in markets like Italy and Germany, where it plans to expand its product offerings [20][36][38] - **Consumer Trends**: Nomad Foods is adapting to changing consumer preferences, including a focus on health and convenience, which aligns with the growing popularity of air fryers and healthier frozen options [18][20][17] Conclusion - Nomad Foods is positioned well within the frozen food industry, leveraging its strong portfolio and market share while focusing on innovation and strategic growth opportunities. The company is navigating current challenges with a clear strategy aimed at long-term success.

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Market Overview - Volatility has returned to Wall Street, driven by tariff fears and high inflation impacting consumer sentiment [1][2] - Consumer sentiment index dropped to 50.8 in May, a 2.7% decline from April, marking one of the lowest points in 75 years [5] - Since January, consumer sentiment has decreased by nearly 30%, with short-term inflation expectations rising to 7.3% in May from 6.5% [6] Federal Reserve and Inflation - The Federal Reserve is unlikely to implement interest rate cuts in the near term, maintaining a cautious stance despite signs of easing inflation [8] - The consumer price index rose by only 0.2% in April, with a year-over-year increase of 2.3%, the smallest since February 2021 [7] Tariff Impact - President Trump's announcement of sweeping tariffs raised concerns about a potential global trade war, leading to market sell-offs [9][11] - A recent 90-day trade truce with China has temporarily calmed the situation, delaying additional tariffs [10] Investment Opportunities - Recommended focus on safe-haven stocks, particularly low-beta consumer staples with high dividend yields [3][4] - Philip Morris International Inc. (PM) has an expected earnings growth rate of 13.7% for the current year and a dividend yield of 3.09% [14] - Nomad Foods Limited (NOMD) has an expected earnings growth rate of 7.3% and a dividend yield of 3.80% [16] - Zevia PBC (ZVIA) shows a significant expected earnings growth rate of 38.7% for the current year [17]

The stock market’s historic rebound continued on Thursday as President Trump announced a new trade deal with the United Kingdom.With the deal focused on reducing trade barriers, it’s noteworthy that several British ADRs (American Depository Receipts) are standing out and may be worthy of investors' consideration.   Nomad Foods – NOMDZacks Rank #1 (Strong Buy) With the U.S. and the U.K. set to collaborate on agricultural market success, Nomad Foods (NOMD)  stock is appealing and was recently flagged as the Z ...

Financial Data and Key Metrics Changes - Reported net revenues decreased by 3% to €760 million, with organic sales declining by 3.6% and volume declining by 3.7% [23][24] - Gross margin increased by 90 basis points year on year to 27.8% [24] - Adjusted EBITDA decreased by 1.8% year on year to €120 million, while adjusted EPS fell by 5.4% to €0.35 due to net sales contraction [26][30] Business Line Data and Key Metrics Changes - Net sales for growth platforms rose by 36% year over year in the first quarter, with chicken performing particularly well [15] - Retail sell-through was slightly positive at +0.2%, indicating that sell-in led sell-through by nearly four percentage points [23] Market Data and Key Metrics Changes - The frozen category in Europe remains healthy, with growth recently accelerating, driven by improved volume and value gains [12][13] - The category has outgrown the overall food industry by nearly one percentage point over the past decade [12] Company Strategy and Development Direction - The company is focused on long-term health by continuing to invest in brands and products despite current headwinds [11] - A new master brand advertising campaign is set to launch, emphasizing the taste appeal and nutritional profile of frozen food brands, particularly in the fish category [17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged headwinds from retailer inventory destocking and increased consumer value-seeking behavior, leading to a revised outlook for organic revenue growth [10][29] - The company expects organic sales to return to growth beginning in the second quarter, with profitable growth anticipated for the remainder of the year [23][31] Other Important Information - The company repurchased €49 million of shares and paid €25 million in dividends in the first quarter, marking a 152% increase in total cash returned to shareholders compared to the previous year [9][28] - Adjusted free cash flow conversion ratio fell to 24% due to higher working capital pressures [26] Q&A Session Summary Question: Impact of retailer destocking - Management noted that destocking was broad-based across 12 to 13 countries, with greater than expected impacts [36][37] Question: Outlook for category growth - Management confirmed that the category remains healthy, with expectations for market share growth despite some softness in the UK [40][41] Question: New product innovation and consumer shifts - Management indicated that new consumers are shifting from both smaller brands and private labels, with a focus on snacking occasions [48][51] Question: Input cost increases - Input costs are primarily rising in proteins, particularly chicken and red meat, due to demand and external factors like avian flu [58] Question: Pricing strategy amidst consumer trading down - Management acknowledged that consumers are seeking value, and pricing strategies will be a combination of various factors, including advertising and product innovation [64][66]

Nomad Foods (NOMD) Q1 2025 Earnings Call May 08, 2025 08:30 AM ET Speaker0 Good day, ladies and gentlemen, and welcome to the Nomad Foods First Quarter twenty twenty five Conference Call. At this time, all participants are in the listen only mode. A question and answer session will follow the formal presentation. Please note that this conference is being recorded. I would now like to turn the conference over to Mr. Jason English, Head of Investor Relations. Please go ahead. Speaker1 Hello, and welcome to No ...

May 8, 2025 FIRST QUARTER 2025 Earnings Results Disclaimer This Presentation has been prepared and issued by Nomad Foods Limited (the "Company"). This Presentation has been provided solely for information and background. The information in this Presentation is provided as at the date of the Presentation (unless stated otherwise). This Presentation does not constitute or form part of, and should not be construed as: (i) an offer, solicitation or invitation to subscribe for, sell or issue, underwrite or other ...

Exhibit 99.2 Nomad Foods Limited Condensed Consolidated Interim Financial Statements (unaudited) For the three months ended March 31, 2025 Nomad Foods Limited—Interim management report Results for the three months ended March 31, 2025 The Company's financial results are discussed within the press release which accompanies these unaudited condensed consolidated interim financial statements. Liquidity review | | For the three months ended March 31, | | | --- | --- | --- | | | 2025 | 2024 | | | €m | €m | | Net ...