Nomad Foods Limited · NYSE:NOMD
Nomad Foods — Q1 2021 Earnings Presentation
18 slides from Nomad Foods's earnings presentation, May 7, 2021
Slide 1: First Quarter 2021 Earnings Results
First Quarter 2021 Earnings Results May 6, 2021
Slide 2: Disclaimer
Disclaimer Certain statements and matters discussed in this Presentation, as well as the accompanying oral presentation, may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "aim", "anticipate", "bel
Slide 3: First Quarter 2021 Highlights
First Quarter 2021 Highlights Revenue Adjusted Gross Adjusted Adjusted Growth Margin EBITDA EPS 3.6% 130BPS €138M €0.47 1.8% organic YoY expansion 15% YoY growth 42% YoY growth 1.8% M&A/other Reiterating Full Year 2021 Guidance 3
Slide 4: First Quarter 2021 Highlights
First Quarter 2021 Highlights Organic revenue growth of 1.8% despite anniversary of more difficult comps and capacity constraints in key products such as frozen fish Strong Adjusted gross margin and Adjusted EBITDA margin performance reflect favorable mix in the base business, strong procurement
Slide 5: New "Get on Board" Campaign Launched in Q1 and Will Expand Across Europe in 2021
New “Get on Board” Campaign Launched in Q1 and Will Expand Across Europe in 2021 Find out where your fish comes from
Slide 6: A New Partnership with WWF will Promote Sustainable Eating and Agriculture
A New Partnership with WWF will Promote Sustainable Eating and Agriculture
Slide 7: First Quarter 2021 Key Operating Highlights
First Quarter 2021 Key Operating Highlights (in €m unless otherwise noted) 1Q 2021 1Q 2020 YoY Change Revenue €707 €683 3.6% Organic revenue growth 1.8% Adjusted Gross profit 215 199 8% Adjusted Gross margin 30.4% 29.1% 130 bp Adjusted operating expense (94) (97) (2)% Depreciation & amortization 17
Slide 8: First Quarter 2021 Free Cash Flow Highlights
First Quarter 2021 Free Cash Flow Highlights (in €m unless otherwise noted) 1Q 2021 1Q 2020 Adjusted EBITDA €138 €120 Change in working capital 14 1 Capital expenditures1 (20) (10) Cash taxes (21) (19) Cash interest & other2 (13) (18) Adjusted free cash flow €98 €74 Adjusted profit for the period €8
Slide 9: Reiterate 2021 Guidance of 10%+ Adjusted EPS Growth
Reiterate 2021 Guidance of 10%+ Adjusted EPS Growth TOTAL ORGANIC ADJUSTED EPS Revenue Growth Revenue Growth Growth Approximately Approximately Approximately 3 - 5% 1 - 2% 11 - 15% Adjusted EPS €1.50 - 1.55 $1.80 - 1.86 USD equivalent 2021 Guidance figures converted to USD, the currency in which Nom
Slide 10: Questions?
Questions?
Slide 11: Appendix
Appendix
Slide 12: Non-IFRS financial measures reconciliation tables overview
The following tables have been included to allow users to reconcile Non-IFRS financial measures as well as Adjusted financial information included within this presentation to reported IFRS financial measures. 1. Definitions of Non-IFRS financial measures referred to in this presentation. 2. Reconcil
Slide 13: Definitions of Non-IFRS financial measures referred to in this presentation
1. Definitions of Non-IFRS financial 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 have
Slide 14: Reconciliation of reported to organic revenue growth
2. Reconciliation of reported to organic revenue growth Year on Year Growth - March 31, 2021 compared to March 31, 2020 Three months ended March 31, 2021 YoY Growth Reported Revenue Growth 3.6% Of which: - Organic Revenue Growth 1.8% - Acquisitions 3.0% - Leap Year (a) (1.3)% - Translational FX (b)
Slide 15: Reconciliation of Non-IFRS Financial Measures
3. Reconciliation of Non-IFRS Financial Measures Adjusted Statement of Profit or Loss (unaudited) Three months ended March 31, 2021 As reported for the three months As adjusted for the three months € in millions, except per share data ended March 31, 2021 Adjustments ended March 31, 2021 Revenue 707
Slide 16: Reconciliation of Non-IFRS Financial Measures
3. Reconciliation of Non-IFRS Financial Measures Adjusted Statement of Profit or Loss (unaudited) Three months ended March 31, 2020 As reported for the three months As adjusted for the three months € in millions, except per share data ended March 31, 2020 Adjustments ended March 31, 2020 Revenue 682
Slide 17: Reconciliation of Non-IFRS Financial Measures (continued)
3. Reconciliation of Non-IFRS Financial Measures (continued) Reconciliation of Profit for the period to EBITDA and Adjusted EBITDA (unaudited) a. Represents non-cash fair value uplift of inventory recorded as part of the Findus Switzerland purchase € in millions Three months ended Three months ended
Slide 18: Reconciliation of Non-IFRS Financial Measures (continued)
3. Reconciliation of Non-IFRS Financial Measures (continued) Reconciliation of reported net cash flows from operating activities to Adjusted free cash flow for the three months ended March 31, 2021 and the three months ended March 31, 2020 Three months Three months a. Adjustment to add back cash flo