Nomad Foods Limited · NYSE:NOMD
Nomad Foods — Q4 2024 Earnings Presentation
40 slides from Nomad Foods's earnings presentation, Mar 3, 2025
Slide 1: Fourth Quarter 2024 Earnings Results
FOURTH QUARTER 2024 Earnings Results March 3, 2025
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: Nomad Financial History - Another Record Year in 2024
Nomad Financial History - Another Record Year in 2024 3 *Adjusted EBITDA & Adjusted EPS represent non-IFRS measures. Please see Appendix for a reconciliation of these non-IFRS measures to their directly comparable measures.
Slide 4: Fourth Quarter and Full Year Highlights
Fourth Quarter and Full Year Highlights • Strong finish with 3.1% organic revenue growth in 4Q24; 1.0% growth for the full year 2024. • Volume and market share back in positive territory. Volume rose 4.7% in 4Q24 (+1.3% for FY 2024) with market share growing in each of the last two quarters of the y
Slide 5: Volume Positively Inflected in 2024
Volume Positively Inflected in 2024 YoY Volume Growth 5
Slide 6: Market Share Positively Inflected in 2024
Market Share Positively Inflected in 2024 6 Source: NielsenIQ & Circana
Slide 7: Fourth Quarter 2024 Key Financial Metrics
Fourth Quarter 2024 Key Financial Metrics Total Revenue Adjusted Adjusted Gross Margin EBITDA** EPS** €793m 28.5% €137m €0.42 +3.1% organic** $0.44* *Q4 24 Adjusted EPS converted to USD, the currency in which Nomad Foods shares trade, for illustrative purposes and based on USD/EUR FX rate of 1.05 as
Slide 8: Full Year 2024 Key Financial Metrics
Full Year 2024 Key Financial Metrics Total Revenue Adjusted Adjusted Gross Margin EBITDA** EPS** €3.1b 29.6% €565m €1.78 +1.0% organic** $1.87* *Full Year 24 Adjusted EPS converted to USD, the currency in which Nomad Foods shares trade, for illustrative purposes and based on USD/EUR FX rate of 1.05
Slide 9: Fourth Quarter 2024 Key Operating Highlights
Fourth Quarter 2024 Key Operating Highlights (in €m other than EPS) 4Q 2024 4Q 2023 YoY Change Revenue €793 €761 4.3% Organic revenue growth/(decline)* 3.1% Gross profit 226 208 9% Gross margin 28.5% 27.3% 120 bps Adjusted operating expense* (114) (117) (3)% Depreciation & amortization 25 26 (3)% Ad
Slide 10: Full Year 2024 Key Operating Highlights
Full Year 2024 Key Operating Highlights (in €m other than EPS) FY 2024 FY 2023 YoY Change Revenue €3,100 €3,045 1.8% Organic revenue growth/(decline)* 1.0% Gross profit 918 859 7% Gross margin 29.6% 28.2% 140 bp Adjusted operating expense* (450) (419) 7% Depreciation & amortization 97 95 2% Adjusted
Slide 11: 2024 Free Cash Flow Highlights
2024 Free Cash Flow Highlights Year Ended Year Ended (in €m) December 31, 2024 December 31, 2023 Adjusted EBITDA* €565 €535 Change in working capital (11) 59 Capital expenditures1 (80) (82) Cash taxes (49) (93) Cash interest & other2 (133) (119) Adjusted free cash flow* €292 €300 Adjusted profit for
Slide 12: Updated 2025 Guidance
Updated 2025 Guidance Organic Revenue Adjusted EBITDA** Adjusted EPS** Adjusted Free Cash Flow Conversion** 1 - 3% 2 - 4% €1.85 - €1.89 90%+ growth growth 4% - 6% growth $1.94 - $1.98* 12 *2025 Adjusted EPS guidance range converted to USD, the currency in which Nomad Foods shares trade, for illustra
Slide 13: Questions?
Questions?
Slide 14: Appendix
Appendix
Slide 15: Contents
Contents 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.
Slide 16: Definitions of Non-IFRS Financial Measures
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 17: Reconciliation of Reported to Organic Revenue Growth
2. Reconciliation of Non-IFRS Financial Measures Reconciliation from reported to organic revenue growth/(decline) The following table is a reconciliation of reported revenue growth to Organic Revenue Growth for the three and twelve month periods ended December 31, 2024. Year on Year Growth - Decembe
Slide 18: Statement of Profit or Loss, Three Months Ended Dec 31, 2024
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Three Months Ended December 31, 2024 As reported for the As adjusted for the € in millions, except per share data three months ended Adjustments three months ended December 31, 2024 December
Slide 19: EBITDA, Three Months Ended Dec 31, 2024
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted EBITDA (unaudited) Three months ended December 31, 2024 For the three € in millions months ended December 31, 2024 Profit for the period 51.4 Taxation 9.9 Net financing costs 30.2 Depreciation and amortization 25.5 Exceptional ite
Slide 20: Statement of Profit or Loss, Three Months Ended Dec 31, 2023
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Three Months Ended December 31, 2023 As reported for the As adjusted for the € in millions, except per share data three months ended Adjustments three months ended December 31, 2023 December
Slide 21: EBITDA, Three Months Ended Dec 31, 2023
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted EBITDA (unaudited) Three months ended December 31, 2023 For the three € in millions months ended December 31, 2023 Profit for the period 24.7 Taxation 21.5 Net financing costs 20.5 Depreciation and amortization 26.2 Exceptional it
Slide 22: Statement of Profit or Loss, Twelve Months Ended Dec 31, 2024
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Twelve Months Ended December 31, 2024 As reported for the As adjusted for the € in millions, except per share data twelve months ended Adjustments twelve months ended December 31, 2024 Decem
Slide 23: EBITDA, 2024
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted EBITDA (audited) Twelve months ended December 31, 2024 For the twelve months € in millions ended December 31, 2024 Profit for the period 227.1 Taxation 50.8 Net financing costs 109.1 Depreciation and amortization 96.9 Exceptional
Slide 24: Statement of Profit or Loss, Twelve Months Ended Dec 31, 2023
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Twelve Months Ended December 31, 2023 As reported for the As adjusted for the € in millions, except per share data twelve months ended Adjustments twelve months ended December 31, 2023 Decem
Slide 25: EBITDA, 2023
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted EBITDA (audited) Twelve months ended December 31, 2023 As reported for the € in millions twelve months ended December 31, 2023 Profit for the period 192.7 Taxation 60.9 Net financing costs 86.8 Depreciation and amortization 95.0 E
Slide 26: Statement of Profit or Loss, Twelve Months Ended Dec 31, 2022
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Twelve months Ended December 31, 2022 As reported for the As adjusted for the twelve € in millions, except per share data twelve months ended Adjustments months ended December December 31, 2
Slide 27: EBITDA, 2022
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted EBITDA (audited) Twelve months ended December 31, 2022 For the twelve months € in millions ended December 31, 2022 Profit for the period 249.8 Taxation 71.2 Net financing costs 54.4 Depreciation and amortization 88.6 Exceptional i
Slide 28: Statement of Profit or Loss, Twelve Months Ended Dec 31, 2021
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Twelve months Ended December 31, 2021 As reported for the As adjusted for the twelve € in millions, except per share data twelve months ended Adjustments months ended December December 31, 2
Slide 29: EBITDA, 2021
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted EBITDA (audited) Twelve months ended December 31, 2021 For the twelve months € in millions ended December 31, 2021 Profit for the period 181.0 Taxation 55.7 Net financing costs 106.0 Depreciation and amortization 71.6 Acquisition
Slide 30: Statement of Profit or Loss, 2020
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Twelve months ended December 31, 2020 As reported for the As adjusted for the € in millions, except per share data twelve months ended Adjustments twelve months ended December 31, 2020 Decem
Slide 31: EBITDA, 2020
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted EBITDA (audited) Twelve months ended December 31, 2020 For the twelve months € in millions ended December 31, 2020 Profit for the period 225.1 Taxation 70.4 Net financing costs 63.7 Depreciation and amortization 67.6 Exceptional i
Slide 32: Statement of Profit or Loss, 2019
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Twelve months ended December 31, 2019 As reported for the As adjusted for the twelve months ended twelve months ended € in millions, except per share data December 31, 2019 Adjustments Decem
Slide 33: EBITDA, 2019
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted EBITDA (audited) Twelve months ended December 31, 2019 For the twelve months € in millions ended December 31, 2019 Profit for the period 153.6 Taxation 56.7 Net financing costs 73.2 Depreciation and amortization 68.3 Exceptional i
Slide 34: Statement of Profit or Loss, 2018
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Twelve months ended December 31, 2018 As reported for the As adjusted for the € in millions, except per share data twelve months ended twelve months ended December 31, 2018 Adjustments Decem
Slide 35: EBITDA, 2018
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted EBITDA (audited) Twelve months ended December 31, 2018 For the twelve months € in millions ended December 31, 2018 Profit for the period 170.5 Taxation 56.6 Net financing costs 56.0 Depreciation 39.3 Amortization 7.0 Acquisition p
Slide 36: Statement of Profit or Loss, 2017
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Twelve months ended December 31, 2017 As reported for the As adjusted for the € in millions, except per share data twelve months ended twelve months ended December 31, 2017 Adjustments Decem
Slide 37: EBITDA, 2017
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted EBITDA (audited) Twelve months ended December 31, 2017 For the twelve months € in millions ended December 31, 2017 Profit for the period 136.5 Taxation 32.0 Net financing costs 74.4 Depreciation 35.9 Amortization 6.5 Exceptional i
Slide 38: Statement of Profit or Loss, 2016
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Twelve months ended December 31, 2016 As reported for the As adjusted for the twelve months ended twelve months ended € in millions, except per share data December 31, 2016 Adjustments Decem
Slide 39: EBITDA, 2016
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted EBITDA (audited) Twelve months ended December 31, 2016 For the twelve months € in millions ended December 31, 2016 Profit for the period 36.4 Taxation 39.6 Net financing costs 62.1 Depreciation 43.3 Amortization 7.8 Exceptional it
Slide 40: Reconciliation to Adjusted Free Cash Flow
2. Reconciliation of Non-IFRS Financial Measures (continued) Reconciliation of reported net cash flows from operating activities to Adjusted free cash flow for the year ended December 31, 2024 and the Year ended December 31, 2023. (in €m) Year Ended Year Ended December 31, 2024 December 31, 2023 Net