Nomad Foods Limited · NYSE:NOMD
Nomad Foods — Investor Presentation (July 2015)
18 slides from Nomad Foods's investor presentation, July 2015
Slide 1: Nomad Foods Company Presentation
Nomad Foods Company Presentation July 2015 1
Slide 2: Disclaimer
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 Presentatio
Slide 3: Executive Summary
Executive Summary Track Record • Noam Gottesman and Martin E. Franklin (the "Founders") have significant investing experience and a successful acquisition track record across multiple geographies and industries and Anchor Investment • With its anchor investment in Iglo Foods Holdings Limited ("Iglo"
Slide 4: Investment Highlights
Investment Highlights Platform to Lead Consolidation in the Fragmented Global Food Sector A Leading Player in the Experienced Team with Large and Resilient a Strong Track Record Western European Frozen Food Market Historic Brands with Attractive Financial Strong Brand Equity in Characteristics UK, G
Slide 5: Global Packaged Food Market Opportunity is Significant
Global Packaged Food Market Opportunity is Significant Nomad Foods is well-positioned to lead broader food consolidation and build a best-in-class global foods company Global packaged food retail sales ($ in billions) ($bn) • Numerous opportunities exist across the Non-Frozen US and Europe Opportuni
Slide 6: Iglo Group offers a Platform to Lead Consolidation
Iglo Group offers a Platform to Lead Consolidation A leading multi-brand and multi-category frozen food company in Western Europe A leading branded frozen food player in Western Europe Iglo Group Structure today with sales of €1.5bn Strong brands in 3 focus markets – UK, Germany and Italy Sales in 1
Slide 7: Three Strong Brands with Leading Western European Market Position
Three Strong Brands with Leading Western European Market Position Strong Leadership in Focus Markets (1) … … and Leading Brand Loyalty (2) BirdsEye Metric Brand Revenue Spontaneous 34% Awareness Rank/(%) No. 1 No. 1 No. 1 €516 million 87 78 93 Iglo Revenue Trust (3) Brand Rank/(%) No. 1 No. 1 No. 1
Slide 8: Broad Regional Presence with Leading Market Share
Broad Regional Presence with Leading Market Share #1 frozen food branded producer in Western Europe with leading market share in 6 EU countries Geographic Footprint No.1 in Western European Frozen Food Market position (1) in savoury frozen food (2) Market share in Western Europe frozen food market (
Slide 9: Diversified Business Mix
Diversified Business Mix Brand Breakdown Sales Adj. EBITDA (1) Sales by Category Meals and other 20% 34% 29% 30% Fish 24% 38% 43% Poultry 25% 13% 2% 35% Vegetables Other (Germany and 32% 24% other (50/50 split)) 21% FY 2014A sales: €1,501m (2) Margin FY 2014A Adj. EBITDA: €306m (2) (3) FY 2014A sale
Slide 10: Scale Business with Attractive Margin & Cash Flow Profile
Scale Business with Attractive Margin & Cash Flow Profile Revenue (€m) and Gross Profit Margin (%) (1) FY2013 vs. FY2014 1Q14 vs. 1Q15 (3) Gross Margin (%) 34.6 33.5 35.3 34.0 35.0 Net sales declined 0.3% to Net Sales declined 1.0% to 1,573 1,506 1,501 €1,500.9 million in FY2014 €397.5 million i
Slide 11: Iglo Group Current Trading
Iglo Group Current Trading 1H 2015 update • Preliminary estimated net sales declined 2.4% to €743.1 million in 1H 2015 from €761.2 million in 1H 2014. On a constant currency basis, revenue decreased by 6.1% • This is in line with the expectations of Nomad at the time of the completion of the Iglo Gr
Slide 12: Iglo Group Capital Structure
Iglo Group Capital Structure Iglo Group Capital Structure as of 1 June 2015 €mm xLTM EBITDA (1) % Maturity Cash (78) (0.2x) (3.0%) RCF (€80mm) - - - Dec-19 GBP Term Loan B (2) 329 1.0x 12.8% Jun-20 EUR Term Loan B 363 1.1x 14.1% Jun-20 Total Term Loans 692 2.2x 26.9% Jun-20 FRNs 500 1.6x 19.4% Jun-2
Slide 13: Focus on Margin Accretive Innovation Platforms
Focus on Margin Accretive Innovation Platforms Iglo Group's innovation approach and pipeline are key to the organic growth strategy Approach to innovation Recent innovations Innovation Platform Key Products Launched • Identifying new meal “Inspirations”(UK) occasions and customers “SteamFresh” (UK)
Slide 14: Long-Term Vision Supported by Identified Growth Strategy
Long-Term Vision Supported by Identified Growth Strategy Supported by prudent M&A strategy Virtuous Cycle Starts with Revenue Growth Winning in meal occasions Innovation • Increase frozen share of meals 5 • Bigger and bolder Share and 1 innovations rooted in • Grow frozen penetration Market consumer
Slide 15: Experienced Management Team at Iglo Group
Experienced Management Team at Iglo Group Overview of Key Management Stéfan Descheemaeker, CEO Paul Kenyon, CFO • Stéfan Descheemaeker was appointed Chief Executive • Paul Kenyon was appointed as Chief Financial Officer of Officer of Iglo Group and Nomad Foods on 1 June 2015 Iglo Group and Nomad Foo
Slide 16: Nomad Foods – Board of Directors
Nomad Foods – Board of Directors Executive member Role Experience • CEO and Founder of TOMS Capital LLC Co-Executive Chairman, Co- Noam Gottesman • Co-founder of GLG Partners Inc. Founder • Previously, CEO of GLG Partners Inc. • Co-Founder and current Executive Chairman of Jarden Corporation • Previ
Slide 17: Appendix – Information on the Founders
Appendix – Information on the Founders 17
Slide 18: Overview of Nomad Foods' Founders
Overview of Nomad Foods' Founders Overview of the Founders Noam Gottesman Martin E. Franklin • Mr. Gottesman is a recognized leader in the • Distinguished business leader with extensive experience as an financial services industry and global investor originator, operator and value creator of multipl