Nomad Foods Limited · NYSE:NOMD
Nomad Foods — Q4 2018 Earnings Presentation
24 slides from Nomad Foods's earnings presentation, Feb 28, 2019
Slide 1: Fourth Quarter 2018 Earnings Results
Fourth Quarter 2018 Earnings Results February 28, 2019
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: Fourth Quarter 2018 Financial Results Overview
Fourth Quarter 2018 Financial Results Overview Organic Adjusted Gross Margin Adjusted EBITDA Adjusted EPS Revenue Growth +4.2% 29.9% €101mn €0.29/share +1.7% volume/mix +20bp +23% growth +7% growth +2.5% price before the impact of acquisition mix 3
Slide 4: Fourth Quarter 2018 Highlights
Fourth Quarter 2018 Highlights Ended the yearthe Ended on year a strong on anote with strong 4.2% note growth with ahead results of long-term exceeding algorithm guidance Top 6 countries Strong all in growth early response forvegetable to new the first time since protein and plant Nomad product Food
Slide 5: 2019 Priorities
2019 Priorities Deliver another year of organic revenue and adjusted EBITDA growth Continue to drive growth from the core Further develop innovation agenda Strong cash flow generation Navigate external factors including higher raw material costs and Brexit 5
Slide 6: Fourth Quarter 2018 Key Operating Metrics
Fourth Quarter 2018 Key Operating Metrics (in €m unless otherwise noted) 4Q 2018 4Q 2017 YoY Change Revenue €615 €508 21.0% Organic revenue growth 4.2% Adjusted gross profit 184 160 15% Adjusted gross margin 29.9% 31.5% (160) bp Adjusted operating expense (96) (89) 8% Advertising & promotion expense
Slide 7: Full Year 2018 Key Operating Metrics
Full Year 2018 Key Operating Metrics (in €m unless otherwise noted) FY2018 FY2017 YoY Change Revenue 2,173 €1,957 11.0% Organic revenue growth 2.6% Adjusted gross profit 659 599 9% Adjusted gross margin 30.3% 30.6% (30) bp Adjusted operating expense (329) (314) 5% Advertising & promotion expense (12
Slide 8: Key Free Cash Flow Metrics
Key Free Cash Flow Metrics (in €m unless otherwise noted) FY2018 FY2017 Adjusted EBITDA €376 €328 Change in working capital 32 33 Capital expenditures1 (36) (38) Adjusted Operating cash flow €372 €323 Operating cash flow conversion2 99% 99% Adjusted cash taxes3 (33) (38) Adjusted cash interest & oth
Slide 9: Anticipated Impact of IFRS 16 on 2019 Results
Anticipated Impact of IFRS 16 on 2019 Results Income Statement Approximate1 Impact to 2019 EBITDA €15 million Profit before tax (€5) million EPS (€0.02) per share Cash Flow & Balance Sheet Approximate1 Impact to 2019 Cash flow no impact Assets €84 million Liabilities €120 million 1 The actual impact
Slide 10: 2019 Guidance (Including the Impact of IFRS 16)
2019 Guidance (Including the Impact of IFRS 16) Organic Revenue Growth Adjusted EBITDA Adjusted EPS growth at a Low-single digit €420 to €430 €1.28 to €1.32 percentage rate million per share Guidance equates to the following when translated into US dollars, the Company’s equity trading currency: • A
Slide 11: Nomad Foods Q&A
Nomad Foods O&A
Slide 12: Appendix
Appendix 12
Slide 13: 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 14: 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 15: Organic revenue growth
2. Reconciliation of reported to organic revenue growth Year on Year Growth – December 31, 2018 compared with December 31, 2017 Three Months Ended Twelve Months Ended December 31, 2018 December 31, 2018 YoY Growth YoY Growth Reported Revenue Growth 21.0% 11.0% Of which: - Organic Revenue Growth 4.2%
Slide 16: Reconciliation: three months ended December 2018
3. Reconciliation of reported to Adjusted financial information for the three months ended December 31, 2018 Adjusted Statement of Profit or Loss (unaudited) Three months ended December 31, 2018 As reported for As adjusted for (in €m, except EPS) three months ended Adjustments three months ended Dec
Slide 17: EBITDA and Adjusted EBITDA: three months 2018
3. Reconciliation of reported to Adjusted financial information for the three months ended December 31, 2018 EBITDA and Adjusted EBITDA (unaudited) Three months ended December 31, 2018 (in €m) Three months ended December 31, 2018 Profit for the period 40.8 Taxation 17.4 Net Financing Costs 19.9 Depr
Slide 18: Reconciliation: three months ended December 2017
4. Reconciliation of reported to Adjusted financial information for the three months ended December 31, 2017 Adjusted Statement of Profit or Loss (unaudited) Three months ended December 31, 2017 As reported for As adjusted for (in €m, except EPS) three months ended Adjustments three months ended Dec
Slide 19: EBITDA and Adjusted EBITDA: three months 2017
4. Reconciliation of reported to Adjusted financial information for the three months ended December 31, 2017 EBITDA and Adjusted EBITDA (unaudited) Three months ended December 31, 2017 (in €m) Three months ended December 31, 2017 Profit for the period 27.3 Taxation 3.2 Net Financing Costs 17.4 Depre
Slide 20: Reconciliation: twelve months ended December 2018
5. Reconciliation of reported to Adjusted financial information for the twelve months ended December 31, 2018 Adjusted Statement of Profit or Loss (unaudited) Twelve months ended December 31, 2018 As reported for As adjusted for twelve months twelve months (in €m, except EPS) ended December Adjustme
Slide 21: EBITDA and Adjusted EBITDA: twelve months 2018
5. Reconciliation of reported to Adjusted financial information for the twelve months ended December 31, 2018 EBITDA and Adjusted EBITDA (unaudited) Twelve months ended December 31, 2018 (in €m) Twelve months ended December 31, 2018 Profit for the period 170.5 Taxation 56.6 Net Financing Costs 56.0
Slide 22: Reconciliation: twelve months ended December 2017
6. Reconciliation of reported to Adjusted financial information for the twelve months ended December 31, 2017 Adjusted Statement of Profit or Loss (unaudited) Twelve months ended December 30, 2017 As reported for twelve As adjusted for (in €m, except EPS) months ended Adjustments twelve months ended
Slide 23: EBITDA and Adjusted EBITDA: twelve months 2017
6. Reconciliation of reported to Adjusted financial information for the twelve months ended December 31, 2017 EBITDA and Adjusted EBITDA (unaudited) (in €m) Twelve months ended Twelve months ended December 31, 2017 December 31, 2017 Profit for the period 136.5 Taxation 32.0 Net financing costs 74.4
Slide 24: Reconciliation of operating cash flow to Adjusted Operating Cash Flow
7. Reconciliation of reported net cash flows from operating activities to Adjusted Operating Cash flow (excl. tax) for the twelve months ended December 31, 2018 and the twelve months ended December 31, 2017 (in €m) Twelve months ended Twelve months ended December 31, 2018 December 31, 2017 Net Cash