Nomad Foods Limited · NYSE:NOMD
Nomad Foods — Q1 2017 Earnings Presentation
19 slides from Nomad Foods's earnings presentation, May 25, 2017
Slide 1: First Quarter 2017 Earnings Conference Call
First Quarter 2017 Earnings Conference Call May 25, 2017
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: 1Q17 Highlights
1Q17 Highlights A Return to Organic Revenue Growth ● Organic revenue growth of +1.1% ● “Must Win Battles” growth of +5.5% ● Italy growth of +8%; joins Germany growth of +10% Raising Full Year Guidance ● Q1 results were in-line with expectations ● Momentum has continued into Q2 with improved gross ma
Slide 4: "Must Win Battles" Are Driving Organic Growth
“Must Win Battles” Are Driving Organic Growth 2015 2016 2017 5.5% 1.2% 1.1% -0.8% -2.7% -3.3% -3.8% -5.4% -6.1% -7.0% -8.0% 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17E 3Q17E 4Q17E Organic Revenue Growth "Must Win Battles" Organic Revenue Growth 4
Slide 5: Organic Revenue Growth by Major Region
Organic Revenue Growth by Major Region UK Italy 7.9% (3.6%) (2.5%) (3.4%) (6.4%) (5.8%) (5.6%) (8.1%) (7.4%) (10.9%) 1Q16 2Q16 3Q16 4Q16 1Q17 1Q16 2Q16 3Q16 4Q16 1Q17 Germany Other Countries 9.8% 6.0% (1.2%) (0.6%) (3.9%) (2.7%) (2.6%) (2.5%) (4.2%) (9.1%) 1Q16 2Q16 3Q16 4Q16 1Q17 1Q16 2Q16 3Q16 4Q1
Slide 6: 1Q17 Gross Margin Bridge
1Q17 Gross Margin Bridge Gross Margin: (1.2%) 6 6
Slide 7: 1Q17 Operating Performance
1Q17 Operating Performance €m, except per share data 1Q/17 1Q/16 YoY Growth Revenue 531.3 547.1 (2.9%) Organic Revenue Growth 1.1% Gross Profit 156.1 167.5 (6.8%) Gross Margin (%) 29.4% 30.6% Advertising & Promotions (29.5) (28.8) 2.5% Advertising & Promotions (% Revenue) 5.6% 5.3% Indirects (50.1)
Slide 8: Key Cash Flow Metrics
Key Cash Flow Metrics YoY €m 1Q/17 1Q/16 Movement Adjusted EBITDA (1) 88.8 99.8 (11.0) Loss on disposal of property, plant & equipment 0.2 - 0.2 Working capital movement 2.6 (7.0) 9.6 Pensions & other provisions movements (0.3) (1.3) 1.0 Adjusted capital expenditure (2) (6.8) (5.8) (1.0) Adjusted op
Slide 9: Annual 2017 Guidance Assumptions
Annual 2017 Guidance Assumptions Net Revenues ● Organic revenue growth at a low-single digit percentage rate ● Reported revenue expected include a 170 bp offset related to FX translation and leap year comparison Gross Profit and EBITDA ● Gross profit and gross margins ahead of 2016 ● A&P investment
Slide 10: Questions?
Nomad Foods Questions? 10
Slide 11: Appendix
Nomad Foods 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
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 Reconciliation
2) Organic Revenue Growth Reconciliation Year on Year Growth - March 31, 2017 compared with March 31, 2016 Yoy Growth Reported Revenue Growth/(Decline) (2.9%) Trading Day Impact 1.7% Translational FX (a) 2.3% Organic Revenue Growth/(Decline) 1.1% (a) Translational FX is calculated by translating dat
Slide 15: Reconciliation of reported to Adjusted financial information, March 31, 2017
3) 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 Adjusted for the Three months ended three months ended € millions March 31, 2017 Adjustments March 31, 2017 Rev
Slide 16: Reconciliation of reported to Adjusted financial information, March 31, 2017
3) Reconciliation of reported to Adjusted financial information for the three months ended March 31, 2017 Adjusted EBITDA (unaudited) Three months ended March 31, 2017 Three months ended March 31, € millions 2017 Profit for the period 48.0 Taxation 11.2 Net financing costs 16.1 Depreciation 9.9 Amor
Slide 17: Reconciliation of reported to Adjusted financial information, March 31, 2016
4) Reconciliation of reported to Adjusted financial information for the three months ended March 31, 2016 Adjusted Statement of Profit or Loss (unaudited) Three months ended March 31, 2016 Adjusted for the Three months ended three months ended € millions March 31, 2016 Adjustments March 31, 2016 Rev
Slide 18: Reconciliation of reported to Adjusted financial information, March 31, 2016
4) Reconciliation of reported to Adjusted financial information for the three months ended March 31, 2016 Adjusted EBITDA (unaudited) Three months ended March 31, 2016 Three months ended March 31, € millions 2016 Profit for the period 42.2 Taxation 16.5 Net financing costs 5.7 Depreciation 10.5 Amor
Slide 19: Reconciliation of net cash flows from operating activities 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, 2017 and the three months ended March 31, 2016 As reported for As reported for the three the three months ended months ended € in millions (unaudite