Nomad Foods Limited · NYSE:NOMD
Nomad Foods — Q4 2025 Earnings Presentation
26 slides from Nomad Foods's earnings presentation, Feb 26, 2026
Slide 1: Fourth Quarter 2025 Earnings Results
FOURTH QUARTER 2025 Earnings Results February 26, 2026
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: Fourth Quarter and Full Year Highlights
Fourth Quarter and Full Year Highlights • Delivered full year results in-line with the guidance issued in August. • Organic revenue declines moderated in 4Q, relative to 3Q, despite a more challenging year ago comparison. Organic revenue fell 1.3% YoY with volume down 1.1%. • Gross margin declines s
Slide 4: Great Brands with Leading Market Share & Equity
Great Brands with Leading Market Share & Equity 39% 2.3x Weighted average value Higher market share than market share in our top 25 all other branded must-win-battles competitors combined in our top 25 must-win battles #1 #1 #1 Brand Awareness in 14/15 Preference in 11/15 Brand Equity in 12/15 Marke
Slide 5: Tailwinds of a Growing Category
Tailwinds of a Growing Category 5 Source: NielsenIQ & Circana
Slide 6: Opportunity for Improved Share Performance
Opportunity for Improved Share Performance 6 Source: NielsenIQ & Circana
Slide 7: Full Year 2025 Key Financial Metrics
Full Year 2025 Key Financial Metrics Total Revenue Adjusted Adjusted Adjusted Gross EBITDA** EPS** Margin** €3.0b 27.5% €523m €1.66 (1.9)% organic** (210) bps YoY $1.96* *Full Year 25 Adjusted EPS converted to USD, the currency in which Nomad Foods shares trade, for illustrative purposes and based o
Slide 8: Full Year 2025 Key Operating Highlights
Full Year 2025 Key Operating Highlights (in €m other than EPS) FY 2025 FY 2024 YoY Change Revenue €3,033 €3,100 (2.2)% Organic revenue growth/(decline)* (1.9)% Adjusted gross profit* 833 918 (9)% Adjusted gross margin* 27.5% 29.6% (210) bp Adjusted operating expense* (410) (450) (9)% Depreciation &
Slide 9: Fourth Quarter 2025 Key Financial Metrics
Fourth Quarter 2025 Key Financial Metrics Total Revenue Adjusted Adjusted Adjusted Gross EBITDA** EPS** Margin** €773m 26.1% €131m €0.43 (1.3)% organic** (240) bps YoY $0.51* *Q4 25 Adjusted EPS converted to USD, the currency in which Nomad Foods shares trade, for illustrative purposes and based on
Slide 10: Fourth Quarter 2025 Key Operating Highlights
Fourth Quarter 2025 Key Operating Highlights (in €m other than EPS) 4Q 2025 4Q 2024 YoY Change Revenue €773 €793 (2.6)% Organic revenue growth/(decline)* (1.3)% Adjusted gross profit* 202 226 (11)% Adjusted gross margin* 26.1% 28.5% (240) bps Adjusted operating expense* (97) (114) (15)% Depreciation
Slide 11: 2025 Free Cash Flow Highlights
2025 Free Cash Flow Highlights Year Ended Year Ended (in €m) December 31, 2025 December 31, 2024 Adjusted EBITDA* €523 €565 Change in working capital (46) (11) Capital expenditures1 (79) (80) Cash taxes (74) (49) Cash interest & other2 (142) (133) Adjusted free cash flow* €182 €292 Adjusted profit f
Slide 12: 2026 Guidance
2026 Guidance Organic Revenue** Adjusted EBITDA** Adjusted EPS** Adjusted Free Cash Flow Conversion** 2 - 5% 5 - 10% €1.45 - €1.60 90%+ decline decline 4-13% decline $1.71 - $1.89* 12 *2026 Adjusted EPS guidance range converted to USD, the currency in which Nomad Foods shares trade, for illustrative
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 referred to in this presentation
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 Non-IFRS Financial Measures
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: Reconciliation of Non-IFRS Financial Measures (continued)
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Three Months Ended December 31, 2025 As reported for the As adjusted for the € in millions, except per share data three months ended Adjustments three months ended December 31, 2025 December
Slide 19: Reconciliation of Non-IFRS Financial Measures (continued)
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted EBITDA (unaudited) Three months ended December 31, 2025 For the three € in millions months ended December 31, 2025 Loss for the period (10.7) Taxation (24.7) Net financing costs 105.9 Depreciation and amortization 29.5 Exceptional
Slide 20: Reconciliation of Non-IFRS Financial Measures (continued)
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 21: Reconciliation of Non-IFRS Financial Measures (continued)
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 22: Reconciliation of Non-IFRS Financial Measures (continued)
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Twelve Months Ended December 31, 2025 As reported for the As adjusted for the € in millions, except per share data twelve months ended Adjustments twelve months ended December 31, 2025 Decem
Slide 23: Reconciliation of Non-IFRS Financial Measures (continued)
2. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted EBITDA (audited) Twelve months ended December 31, 2025 For the twelve months € in millions ended December 31, 2025 Profit for the period 136.7 Taxation 8.6 Net financing costs 180.1 Depreciation and amortization 109.4 Exceptional
Slide 24: Reconciliation of Non-IFRS Financial Measures (continued)
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 25: Reconciliation of Non-IFRS Financial Measures (continued)
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 26: Reconciliation of Non-IFRS Financial Measures (continued)
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, 2025 and the Year ended December 31, 2024. (in €m) Year Ended Year Ended December 31, 2025 December 31, 2024 Net