Nomad Foods Limited · NYSE:NOMD
Nomad Foods — Q3 2022 Earnings Presentation
19 slides from Nomad Foods's earnings presentation, Nov 9, 2022
Slide 1: Third Quarter 2022 Earnings Results
THIRD QUARTER 2022 Earnings Results November 9, 2022
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: Third Quarter 2022 Key Financial Metrics
Third Quarter 2022 Key Financial Metrics Total Revenue Gross Margin Adjusted Adjusted EBITDA EPS €760m 29.1% €153m €0.52 +26.7% 110bps +35.3% +48.6% YoY Growth YoY growth YoY Growth YoY Growth 3
Slide 4: Third Quarter Performance
Third Quarter Performance • Delivered strong revenue growth (+26.7%) in a challenging consumer environment, generating +7.2% in organic sales • Sales growth reflects the successful execution of our pricing strategy and the inclusion of our recent acquisition • Double-digit Q3 net pricing has helped
Slide 5: Third Quarter Business Highlights
Third Quarter Business Highlights Pricing: Double-digit price increase landed • Q3 price increases successfully executed (+10.6% net pricing) • Q4 increase should position us for a strong start to 2023 Fish supply: Diversification strategy in full motion • Secured supply with major high quality farm
Slide 6: Third Quarter 2022 Key Operating Highlights
Third Quarter 2022 Key Operating Highlights (in €m unless otherwise noted) 3Q 2022 3Q 2021 YoY Change Revenue €760 €599 27% Organic revenue growth/(decline) 7% Gross profit 221 168 32% Gross margin 29.1% 28.0% 110 bp Adjusted operating expense (91) (72) 27% Depreciation & amortization 23 17 32% Adju
Slide 7: Third Quarter 2022 Free Cash Flow Highlights
Third Quarter 2022 Free Cash Flow Highlights Nine Months Ended Nine Months Ended (in €m unless otherwise noted) September 30, 2022 September 30, 2021 Adjusted EBITDA €411 €374 Change in working capital (219) (113) 1 Capital expenditures (55) (51) Cash taxes (44) (63) 2 Cash interest & other (69) (48
Slide 8: Reiterate 2022 Guidance
Reiterate 2022 Guidance Total Revenue Organic Revenue Adjusted EPS High-single digit Low-single digit High-single digit Growth Growth Growth Adjusted EPS €1.65 - 1.71 Our 2025 Adjusted EPS target remains at €2.30 8
Slide 9: Questions?
Questions?
Slide 10: Appendix
Appendix
Slide 11: 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 12: 1. 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 13: 2. Reconciliation of reported to organic revenue growth/(decline)
2. Reconciliation of reported to organic revenue growth/(decline) Year on Year Growth - September 30, 2022 compared to September 30, 2021 Three Months Ended Nine Months Ended September 30, 2022 September 30, 2022 YoY Change YoY Change Reported Revenue Growth 26.7% 15.1% Of which: - Organic Revenue G
Slide 14: 3. Reconciliation of Non-IFRS Financial Measures
3. Reconciliation of Non-IFRS Financial Measures Adjusted Statement of Profit or Loss (unaudited) Three Months Ended September 30, 2022 As reported for the three As adjusted for the three € in millions, except per share data months ended September Adjustments months ended September 30, 2022 30, 2022
Slide 15: 4. Reconciliation of Non-IFRS Financial Measures (continued)
4. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Three Months Ended September 30, 2021 As reported for the three As adjusted for the three € in millions, except per share data months ended September Adjustments months ended September 30, 2
Slide 16: 5. Reconciliation of Non-IFRS Financial Measures (continued)
5. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Nine Months Ended September 30, 2022 As reported for the nine As adjusted for the nine € in millions, except per share data months ended September Adjustments months ended September 30, 2022
Slide 17: 6. Reconciliation of Non-IFRS Financial Measures (continued)
6. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Nine Months Ended September 30, 2021 As reported for the nine As adjusted for the nine € in millions, except per share data months ended September Adjustments months ended September 30, 2021
Slide 18: 7. Reconciliation of Non-IFRS Financial Measures (continued)
7. Reconciliation of Non-IFRS Financial Measures (continued) Reconciliation of Profit for the period to EBITDA and Adjusted EBITDA (unaudited) Three months ended Nine months ended September 30, September 30, September 30, September 30, € in millions 2022 2021 2022 2021 Profit for the period 82.1 51.
Slide 19: 8. Reconciliation of Non-IFRS Financial Measures (continued)
8. Reconciliation of Non-IFRS Financial Measures (continued) Reconciliation of reported net cash flows from operating activities to Adjusted free cash flow for the nine months ended September 30, 2022 and the nine months ended September 30, 2021 Nine months ended Nine months ended (in €m) September