Nomad Foods(NOMD)

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Nomad Foods(NOMD) - 2020 Q4 - Earnings Call Transcript
2021-02-28 16:15
Financial Data and Key Metrics Changes - Organic revenue growth of 9.5% driven by an 8.6% increase in volume and mix, and a 0.9% increase in price [9][11] - Adjusted EBITDA of €119 million, with adjusted EPS growth of 19% to €0.38 per share [10][25] - Gross margin expanded by 160 basis points to 31.5%, marking the strongest quarterly gross margin rate in over two years [9][24] Business Line Data and Key Metrics Changes - Branded retail portfolio grew by 12% during Q4, with strong performance in fish fingers, coated fish, poultry, and plant protein [22][11] - Non-branded channels represented approximately 10% of sales, experiencing mid-single-digit growth in private label sales and nearly 30% declines in food service due to COVID-19 restrictions [23] Market Data and Key Metrics Changes - Demand for frozen foods accelerated in late October 2020, continuing into 2021 [11] - The company reported a significant increase in advertising and promotional spending, with a 30% year-on-year increase in A&P spend [12][24] Company Strategy and Development Direction - Focus on core portfolio anchored in frozen fish and vegetables, with plans for breakthrough innovation in Green Cuisine, aiming to grow revenues to over €100 million by the end of next year [18][20] - Active M&A strategy, including the acquisition of Findus Switzerland and exclusive discussions to acquire the frozen food portfolio of the Fortenova Group [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving another year of double-digit adjusted EPS growth in 2021, with total revenue and adjusted EBITDA growth expected to be approximately 3% to 5% [29][32] - The company believes it is still in the early stages of value creation, with strong plans to continue momentum into 2021 [63][64] Other Important Information - Generated €345 million of adjusted free cash flow in 2020, setting a new record for the company [13][26] - Initiated a $300 million share buyback program in March 2020, repurchasing over €600 million of stock [14] Q&A Session Summary Question: Drivers of organic sales guidance and COVID gains - Management highlighted the importance of brand investment and the strong performance of core categories, indicating confidence in achieving 1% to 2% growth in 2021 despite the challenges [40][41] Question: Marketing spend and support for Findus Switzerland - Management indicated that SG&A will be flat year-on-year in 2021, with continued investment in brand support and a focus on driving ROI [42] Question: Industry and trade negotiations post-Brexit - Management noted that Brexit has been navigated successfully, with some logistical issues but overall positive outcomes for trade negotiations [45][46] Question: Synergy and accretion potential from Findus Switzerland - Management stated that the plan is on track for synergy realization, with a focus on competitive advantages and cost management [47][49] Question: Surging demand for frozen foods and potential for new categories - Management reaffirmed commitment to core categories and indicated that the focus will remain on must-win battles rather than diversifying into less profitable areas [56] Question: Marketing strategy for Green Cuisine amidst competition - Management emphasized the importance of brand differentiation and strong distribution networks, with a focus on growing the category rather than engaging in a land grab [58][59]
Nomad Foods(NOMD) - 2020 Q4 - Earnings Call Presentation
2021-02-25 18:15
Financial Highlights - Q4 2020 - Organic revenue grew by 9.5% [9], exceeding the prior guidance of high-single digit growth [15] - Adjusted EPS increased by 19% year-over-year to €0.38 [9, 23] - Gross margin expanded by 160 basis points year-over-year [9, 23] Financial Highlights - Full Year 2020 - Total revenues reached €2.52 billion, with organic growth of 8.7% [12] - Adjusted EBITDA was €467 million [12] - Adjusted EPS grew by 10% to €1.35 [12] - Adjusted Free Cash Flow was €345 million, representing a 131% conversion rate [12] 2021 Guidance - The company projects total revenue growth of 3-5% [29] - Organic revenue growth is expected to be approximately 1-2% [30] - Adjusted EPS growth is projected to be approximately 11-15%, reaching €1.50-€1.55 [32, 33] Strategic Initiatives - The company deployed over €600 million of cash towards share repurchases and €112 million to acquire the Findus Switzerland business in 2020 [15]
Nomad Foods(NOMD) - 2020 Q4 - Annual Report
2021-02-25 11:47
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) Commission file number 001-37669 Nomad Foods Limited (Exact Name of Registrant as Specified in Its Charter) British Virgin Islands (Jurisdiction of Incorporation or Organization) No. 1 New Square Bedfont Lakes Business Park Feltham, Middlesex TW14 8HA, United Kingdom (Address of Principal Executive Offices) Samy Zekhout No. 1 New Square Bedfont Lakes Business Park Feltham, Middlesex TW14 8HA Telephone:+(44) 208 918 ...
Nomad Foods(NOMD) - 2020 Q3 - Earnings Call Transcript
2020-11-08 08:42
Nomad Foods Ltd (NYSE:NOMD) Q3 2020 Earnings Conference Call November 5, 2020 8:30 AM ET Company Participants | --- | |--------------------------------------------------------------------------------------------| | | | Taposh Bari - Head, IR Stefan Descheemaeker - CEO & Director Samy Zekhout - CFO & Director | | | | Conference Call Participants | | Robert Dickerson - Jefferies John Baumgartner - Wells Fargo Securities | | Peter Lukas - CJS Securities Ariel Altaras - Cr??dit Suisse | | Grant O'Brien - Truist ...
Nomad Foods(NOMD) - 2020 Q2 - Earnings Call Transcript
2020-08-10 02:18
Nomad Foods Limited (NYSE:NOMD) Q2 2020 Earnings Conference Call August 6, 2020 8:30 AM ET Company Participants Taposh Bari - Head of Investor Relations St??fan Descheemaeker - Chief Executive Officer Samy Zekhout - Chief Financial Officer Conference Call Participants Andrew Lazar - Barclays Capital John Baumgartner - Wells Fargo Securities Matthew Fishbein - Jefferies LLC Brian Holland - D.A. Davidson Companies Bill Chappell - Truist Securities Jason English - Goldman Sachs Robert Moskow - Credit Suisse Gr ...
Nomad Foods Limited (NOMD) Presents At Deutsche Bank dbAccess Global Consumer Conference - Slideshow
2020-06-12 16:42
Nomad Foods Serving the world with better food dbAccess Global Consumer Conference 2020 June 10, 2020 Disclosures 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 invitati ...
Nomad Foods(NOMD) - 2020 Q1 - Earnings Call Transcript
2020-05-10 03:46
Nomad Foods Limited (NYSE:NOMD) Q1 2020 Earnings Conference Call May 7, 2020 8:30 AM ET Company Participants Taposh Bari - Head of IR Stefan Descheemaeker - CEO Samy Zekhout - CFO Conference Call Participants Andrew Lazar - Barclays Steve Strycula - UBS Rob Dickerson - Jefferies John Baumgartner - Wells Fargo Faiza Alwy - Deutsche Bank Brian Holland - D.A. Davidson Jon Tanwanteng - CJS Securities Bill Chappell - SunTrust Robinson Humphrey Operator Good day, and welcome to the Nomad Foods First Quarter 2020 ...
Nomad Foods(NOMD) - 2020 Q1 - Earnings Call Presentation
2020-05-08 18:41
First Quarter 2020 Earnings Results May 7th 2020 Disclosures 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 oth ...
Nomad Foods(NOMD) - 2019 Q4 - Earnings Call Transcript
2020-03-01 03:22
Nomad Foods Limited (NYSE:NOMD) Q4 2019 Earnings Conference Call February 27, 2020 8:30 AM ET Company Participants Taposh Bari - Head of Investor Relations Stefan Descheemaeker - Chief Executive Officer Samy Zekhout - Chief Financial Officer Conference Call Participants Andrew Lazar - Barclays Steve Strycula - UBS Rob Dickerson - Jefferies John Baumgartner - Wells Fargo Jon Tanwanteng - CJS Securities Bill Chappell - SunTrust Robinson Humphrey Steve Strycula - UBS Jake Nivasch - Credit Suisse Operator Good ...
Nomad Foods(NOMD) - 2019 Q4 - Annual Report
2020-02-27 11:53
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) Nomad Foods Limited (Exact Name of Registrant as Specified in Its Charter) British Virgin Islands (Jurisdiction of Incorporation or Organization) No. 1 New Square Bedfont Lakes Business Park Feltham, Middlesex TW14 8HA (Address of Principal Executive Offices) Samy Zekhout No. 1 New Square Bedfont Lakes Business Park Feltham, Middlesex TW14 8HA Telephone:+(44) 208 918 3200 Facsimile:+(44) 208 918 3491 (Name, Telephon ...