Nomad Foods Limited · NYSE:NOMD
Nomad Foods — Q2 2022 Earnings Presentation
19 slides from Nomad Foods's earnings presentation, Aug 10, 2022
Slide 1: Second Quarter 2022 Earnings Results
SECOND QUARTER 2022 Earnings Results August 10, 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: Second Quarter 2022 Key Financial Metrics
Second Quarter 2022 Key Financial Metrics Total Revenue Adjusted Adjusted Adjusted Gross Margin EBITDA EPS €697m 28.2% €127m €0.40 +17% -260bps +3% Flat YoY Growth YoY decline YoY Growth YoY Growth 3
Slide 4: Second Quarter Performance
Second Quarter Performance • Delivered revenue growth in a difficult macro environment, supported by our recently acquired Adriatic region • Q2 had the highest mismatch of input cost inflation versus price for the year and our pricing is now catching up to costs • We are more than 95% covered on raw
Slide 5: Second Quarter Business Highlights
Second Quarter Business Highlights Fish supply strategy: Diversifying risks • Rapidly securing new farmed fish sources • Adding alternate species and new geographies to augment current wild caught supplies Green Cuisine: Growth engine • Gained 290bps market share in trailing 52 weeks while category
Slide 6: Second Quarter 2022 Key Operating Highlights
Second Quarter 2022 Key Operating Highlights (in €m unless otherwise noted) 2Q 2022 2Q 2021 YoY Change Revenue €697 €596 17% Organic revenue growth/(decline) (3)% Adjusted Gross profit 197 184 7% Adjusted Gross margin 28.2% 30.8% (260) bp Adjusted operating expense (92) (77) 19% Depreciation & amort
Slide 7: Second Quarter 2022 Free Cash Flow Highlights
Second Quarter 2022 Free Cash Flow Highlights Six Months Ended Six Months Ended (in €m unless otherwise noted) June 30, 2022 June 30, 2021 Adjusted EBITDA €258 €261 Change in working capital (125) (55) 1 Capital expenditures (34) (34) Cash taxes (25) (31) 2 Cash interest & other (38) (38) Adjusted f
Slide 8: Updated 2022 Guidance
Updated 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: 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 13: Reconciliation of reported to organic revenue growth/(decline)
2. Reconciliation of reported to organic revenue growth/(decline) Year on Year Growth - June 30, 2022 compared to June 30, 2021 Three Months Ended Six Months Ended June June 30, 2022 30, 2022 YoY Change YoY Change Reported Revenue Growth 17.0% 9.7% Of which: - Organic Revenue Growth/(Decline) (3.2)%
Slide 14: Reconciliation of Non-IFRS Financial Measures
3. Reconciliation of Non-IFRS Financial Measures Adjusted Statement of Profit or Loss (unaudited) Three Months Ended June 30, 2022 As reported for the three As adjusted for the three € in millions, except per share data months ended June 30, Adjustments months ended June 30, 2022 2022 Revenue 697.0
Slide 15: Reconciliation of Non-IFRS Financial Measures (continued)
3. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Three Months Ended June 30, 2021 As reported for the three As adjusted for the three € in millions, except per share data months ended June 30, Adjustments months ended June 30, 2021 2021 Re
Slide 16: Reconciliation of Non-IFRS Financial Measures (continued)
3. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Six Months Ended June 30, 2022 As reported for the six As adjusted for the six € in millions, except per share data months ended June 30, Adjustments months ended June 30, 2022 2022 Revenue
Slide 17: Reconciliation of Non-IFRS Financial Measures (continued)
3. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Six Months Ended June 30, 2021 As reported for the six As adjusted for the six € in millions, except per share data months ended June 30, Adjustments months ended June 30, 2021 2021 Revenue
Slide 18: Reconciliation of Non-IFRS Financial Measures (continued)
3. Reconciliation of Non-IFRS Financial Measures (continued) Reconciliation of Profit for the period to EBITDA and Adjusted EBITDA (unaudited) Three months ended Six months ended € in millions June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Profit for the period 74.6 51.2 130.6 100.5 Taxatio
Slide 19: Reconciliation of Non-IFRS Financial Measures (continued)
3. Reconciliation of Non-IFRS Financial Measures (continued) Reconciliation of reported net cash flows from operating activities to Adjusted free cash flow for the six months ended June 30, 2022 and the six months ended June 30, 2021 Six months ended Six months ended (in €m) June 30, 2022 June 30, 2