Nomad Foods Limited · NYSE:NOMD
Nomad Foods — Q1 2018 Earnings Presentation
18 slides from Nomad Foods's earnings presentation, May 10, 2018
Slide 1: First Quarter 2018 Earnings Results
First Quarter 2018 Earnings Results May 10, 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: First Quarter 2018 Financial Results Overview
First Quarter 2018 Financial Results Overview Organic Year-On-Year Change Adjusted EBITDA Adjusted EPS Revenue Growth In Gross Margin +2.9% +240bp €103mn €0.35/share +1.5% volume/mix to 31.8% of sales +16% growth +40% growth +1.4% price Raising Full Year 2018 Guidance to €1.10 – €1.13 Adjusted EPS,
Slide 4: First Quarter 2018 Highlights
First Quarter 2018 Highlights Positive momentum from 2017 has continued into the first quarter of 2018 Focus on the core remains central to the growth strategy Strong gross margin performance, partly helped by phasing Goodfella’s acquisition expands portfolio into frozen pizza, a new category 4
Slide 5: 2018 Growth Initiatives
2018 Growth Initiatives Increased Execution Behind the Core Mobilize Innovation Around Core Categories 5
Slide 6: Key Operating Metrics
Key Operating Metrics (in €m unless otherwise noted) 1Q 2018 1Q 2017 YoY Change Revenue €539 €531 1.5% Organic revenue growth 2.9% Gross profit 171 156 10% Gross margin 31.8% 29.4% 240bp Adjusted Operating expense (78) (80) (2)% Advertising & promotion expense (30) (30) 1% Indirect expense (48) (50)
Slide 7: Key Free Cash Flow Metrics
Key Free Cash Flow Metrics (in €m unless otherwise noted) 1Q 2018 1Q 2017 Adjusted EBITDA €103 €89 Change in working capital (11) 3 Capital expenditures1 (4) (7) Adjusted operating cash flow €89 €85 Operating cash flow conversion2 86% 95% Cash taxes (3) 1 Cash interest & other (3) (16) Adjusted free
Slide 8: Raising 2018 Guidance to the High End of the Prior Range
Raising 2018 Guidance to the High End of the Prior Range Organic Revenue Growth Adjusted EBITDA Adjusted EPS growth at a approximately approximately Low-single digit €355 to €360 €1.10 to €1.13 percentage rate million per share 2018 guidance equates to the following when translated into US dollars,
Slide 9: Nomad Foods Q&A
Nomad Foods O&A
Slide 10: Appendix
Appendix 10
Slide 11: 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 12: Definitions of all key terms and P&L measures
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 13: Reconciliation to organic revenue growth
2. Reconciliation of reported to organic revenue growth Year on Year Growth – Three months ended March 31, 2018 compared with three months ended March 31, 2017 YoY Change Reported Revenue Growth 1.5% Translation FX (a) 1.4% Organic Revenue Growth 2.9% (a) Translational FX is calculated by translatin
Slide 14: Reconciliation of reported to Adjusted financial information, Q1 2018
3. Reconciliation of reported to Adjusted financial information for the three months ended March 31, 2018 Adjusted Statement of Profit or Loss (unaudited) Three months ended March 31, 2018 As reported for As adjusted for (in €m, except EPS) three months ended Adjustments three months ended March 31,
Slide 15: EBITDA and Adjusted EBITDA, Q1 2018
3. Reconciliation of reported to Adjusted financial information for the three months ended March 31, 2018 EBITDA and Adjusted EBITDA (unaudited) Three months ended March 31, 2018 (in €m) As reported for three months ended March 31, 2018 Profit for the period 62.4 Taxation 18.5 Net Financing Costs 6.
Slide 16: Reconciliation of reported to Adjusted financial information, Q1 2017
4. Reconciliation of reported to Adjusted financial information for the three months ended March 31, 2017 Adjusted Statement of Profit or Loss (unaudited) Three months ended March 31, 2017 As reported for three As adjusted for (in €m, except EPS) months ended Adjustments three months ended March 31,
Slide 17: EBITDA and Adjusted EBITDA, Q1 2017
4. Reconciliation of reported to Adjusted financial information for the three months ended March 31, 2017 EBITDA and Adjusted EBITDA (unaudited) Three months ended March 31, 2017 (in €m) As reported for three months ended March 31, 2017 Profit for the period 48.0 Taxation 11.2 Net Financing Costs 16
Slide 18: Reconciliation of operating cash flows to Adjusted Operating Cash Flow
5. Reconciliation of reported net cash flows from operating activities to Adjusted Operating Cash flow (excl. tax) for the three months ended March 31, 2018 and the three months ended March 31, 2017 As reported for three As reported for three months ended March (in €m, except EPS) months ended March