Nomad Foods Limited · NYSE:NOMD
Nomad Foods — Q2 2018 Earnings Presentation
23 slides from Nomad Foods's earnings presentation, Aug 9, 2018
Slide 1: Second Quarter 2018 Earnings Results
Second Quarter 2018 Earnings Results August 9, 2018
Slide 2: Disclaimer
Disclaimer BY READING THIS PRESENTATION, YOU ARE DEEMED TO HAVE READ AND ACCEPTED THE STATEMENT BELOW. This presentation has been prepared by Nomad Foods Limited. This presentation provides information about Nomad Foods Limited and its subsidiaries. Any references to Nomad shall mean Nomad Foods Lim
Slide 3: Second Quarter 2018 Financial Results Overview
Second Quarter 2018 Financial Results Overview Organic Adjusted Gross Margin Adjusted EBITDA Adjusted EPS Revenue Growth +1.3% 31.5% €89mn €0.28/share +1.5% price +80bp +12% growth +22% growth -0.2% volume/mix excluding acquisitions Raising Full Year 2018 Guidance to Adjusted EBITDA of €365 - €370 m
Slide 4: Second Quarter 2018 Highlights
Second Quarter 2018 Highlights Sixth consecutive quarter of organic revenue growth Growth continues to be driven through strong focus on the core portfolio EBITDA growth driven by better than expected gross margins and expense phasing Goodfella’s has performed well and in line with expectations sinc
Slide 5: 2018 Product and Marketing Highlights
2018 Product and Marketing Highlights YTD Growth Has Been Driven by Renovation Innovation To Play Greater Role Beginning in 2H’18 5
Slide 6: The European Activation of "Veggie Power" Recently Began in Portugal
The European Activation of “Veggie Power” Recently Began in Portugal 6
Slide 7: Key Operating Metrics
Key Operating Metrics (in €m unless otherwise noted) 2Q 2018 2Q 2017 YoY Change Revenue €488 €458 6.6% Organic revenue growth 1.3% Adjusted gross profit 154 144 6% Adjusted gross margin 31.5% 31.5% 0bp Adjusted Operating expense (76) (75) 2% Advertising & promotion expense (26) (27) (1)% Indirect ex
Slide 8: Key Free Cash Flow Metrics
Key Free Cash Flow Metrics (in €m unless otherwise noted) 2Q 2018 YTD 2Q 2017 YTD Adjusted EBITDA €192 €168 Change in working capital (48) 31 Capital expenditures1 (9) (17) Adjusted operating cash flow €135 €182 Operating cash flow conversion2 70% 109% Cash taxes3 (9) (1) Cash interest & other4 (22)
Slide 9: Raising 2018 Guidance
Raising 2018 Guidance Organic Revenue Growth Adjusted EBITDA Adjusted EPS growth at a approximately approximately Low-single digit €365 to €370 €1.14 to €1.17 percentage rate million per share 2018 guidance equates to the following when translated into US dollars, the Company’s equity trading curren
Slide 10: Nomad Foods Q&A
Nomad Foods O&A
Slide 11: Appendix
Appendix 11
Slide 12: Contents
Contents The following tables have been included to allow users to reconcile non-IFRS financial information as well as Adjusted financial information included within this presentation to reported IFRS financial information. 1. Definitions of all key terms and P&L measures referred to in this present
Slide 13: Definitions of all key terms and P&L measures referred to in this presentation
1. Definitions of all key terms and P&L measures referred to in this presentation Non-IFRS financial measures should not be considered as substitutes for, or superior to, measures of financial performance prepared in accordance with IFRS. They are limited in value because they exclude charges that h
Slide 14: Organic revenue growth
2. Reconciliation of reported to organic revenue growth Year on Year Growth – June 30, 2018 compared with June 30, 2017 Three months ended Six months ended June 30, 2018 June 30, 2018 YoY Growth YoY Growth Reported Revenue Growth 6.6% 3.8% Of which: - Organic revenue growth 1.3% 2.1% - Acquisitions
Slide 15: Reconciliation to Adjusted financial information, three months ended June 30, 2018
3. Reconciliation of reported to Adjusted financial information for the three months ended June 30, 2018 Adjusted Statement of Profit or Loss (unaudited) Three months ended June 30, 2018 As reported for As adjusted for (in €m, except EPS) three months ended Adjustments three months ended June 30, 20
Slide 16: EBITDA and Adjusted EBITDA, three months 2018
3. Reconciliation of reported to Adjusted financial information for the three months ended June 30, 2018 EBITDA and Adjusted EBITDA (unaudited) Three months ended June 30, 2018 (in €m) Three months ended June 30, 2018 Profit for the period 31.0 Taxation 10.7 Net Financing Costs 17.9 Depreciation 9.5
Slide 17: Reconciliation to Adjusted financial information, three months ended June 30, 2017
4. Reconciliation of reported to Adjusted financial information for the three months ended June 30, 2017 Adjusted Statement of Profit or Loss (unaudited) Three months ended June 30, 2017 As reported for As adjusted for (in €m, except EPS) three months ended Adjustments three months ended June 30, 20
Slide 18: EBITDA and Adjusted EBITDA, three months 2017
4. Reconciliation of reported to Adjusted financial information for the three months ended June 30, 2017 EBITDA and Adjusted EBITDA (unaudited) Three months ended June 30, 2017 (in €m) Three months ended June 30, 2017 Profit for the period 19.3 Taxation 5.9 Net Financing Costs 32.3 Depreciation 8.1
Slide 19: Reconciliation to Adjusted financial information, six months ended June 30, 2018
5. Reconciliation of reported to Adjusted financial information for the six months ended June 30, 2018 Adjusted Statement of Profit or Loss (unaudited) Six months ended June 30, 2018 As reported for six As adjusted for six (in €m, except EPS) months ended June Adjustments months ended June 30, 2018
Slide 20: EBITDA and Adjusted EBITDA, six months 2018
5. Reconciliation of reported to Adjusted financial information for the six months ended June 30, 2018 EBITDA and Adjusted EBITDA (unaudited) Six months ended June 30, 2018 (in €m) Six months ended June 30, 2018 Profit for the period 93.4 Taxation 29.2 Net Financing Costs 24.0 Depreciation 18.0 Amor
Slide 21: Reconciliation to Adjusted financial information, six months ended June 30, 2017
6. Reconciliation of reported to Adjusted financial information for the six months ended June 30, 2017 Adjusted Statement of Profit or Loss (unaudited) Six months ended June 30, 2017 As reported for six As adjusted for six (in €m, except EPS) months ended June Adjustments months ended June 30, 2017
Slide 22: EBITDA and Adjusted EBITDA, six months 2017
6. Reconciliation of reported to Adjusted financial information for the six months ended June 30, 2017 EBITDA and Adjusted EBITDA (unaudited) Six months ended June 30, 2017 (in €m) Six months ended June 30, 2017 Profit for the period 67.3 Taxation 17.1 Net financing costs 48.4 Depreciation 18.0 Amor
Slide 23: Reconciliation of Net Cash Flows from Operating Activities to Adjusted Operating Cash Flow
7. Reconciliation of reported net cash flows from operating activities to Adjusted Operating Cash flow (excl. tax) for the six months ended June 30, 2018 and the six months ended June 30, 2017 Six months ended Six months ended (in €m) June 30, 2017 June 30, 2018 Net Cash Flows From Operating Activit