Nomad Foods Limited · NYSE:NOMD
Nomad Foods — Iglo Group — Q2 2015 Earnings Presentation
14 slides from Nomad Foods's earnings presentation, Aug 27, 2015
Slide 1: Iglo Group Investor Conference Call Q2 2015 Update
Iglo Group Investor Conference Call Q2 2015 Update Thursday 27th August 2015
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 Iglo Foods Holdings Limited. This presentation provides information about Iglo Foods Holdings Limited and its subsidiaries. Any references to Iglo shall mean
Slide 3: Today's presenters
Today’s presenters Stéfan Descheemaeker– Iglo Group CEO Paul Kenyon – Iglo Group CFO A fresh look at frozen 3
Slide 4: Q2 and H1 2015 performance highlights
Q2 and H1 2015 performance highlights Q2 • Reported Net Revenue decline was (3.9)%. Allowing for currency impacts, the exit from Romania, Slovakia and Turkey and the timing of Easter like-for-like Net Revenue decline was (6.1)% • The performance was driven by a tough retail environment across our 3
Slide 5: Q2 Performance Highlights
Q2 Performance Highlights A fresh look at frozen 5
Slide 6: Evolving our approach
Evolving our approach Focus on: • Saving to reinvest • Organisation capability and structuring for success • Renovation and innovation • Best in class revenue and customer management skills • Swift and effective integration of acquisitions, current and future A fresh look at frozen 6
Slide 7: DE wholegrain launch: Strong Distribution and Penetration Build
DE wholegrain launch: Strong Distribution and Penetration Build Portfolio: 80 % Weighted Distribution 70 60 50 Wholegrain Fish Fingers 40 30 20 10 0 Wholegrain Fish Bakes w 49 w 51 w1 w3 w5 w7 w9 w11 w13 w15 w17 w19 w21 w23 w25 1.2 % Household Penetration 1.0 0.8 Wholegrain Nuggets 0.6 0.4 0.2 0.0 1
Slide 8: Q2 Financial Performance
Q2 Financial Performance A fresh look at frozen
Slide 9: Iglo Group: Continued Tough Retail Environment in Q2
Iglo Group: Continued Tough Retail Environment in Q2 €m Q2/14 Q2/15 Delta Comments Reported Net Revenue decline was (3.9)%. Allowing for currency impacts, the exit from Romania, Slovakia & Turkey and the shift of Easter timing like-for like Net Net Revenue 359.5 345.6 -13.9 Sales declined (6.1)% The
Slide 10: 2015: Q2 Net Sales Bridge
2015: Q2 Net Sales Bridge Net Sales LFL: (6.1%) FX One-off Market Retailer Portfolio Note: Financials as per management accounts. All financials quoted exclude Nomad Foods Ltd expenses. A fresh look at frozen 10
Slide 11: 2015: Q2 Gross Profit Bridge
2015: Q2 Gross Profit Bridge Gross Margin: (150)bps 35.6% FX Vol/Mix Net Pricing 34.1% Note: Financials as per management accounts. All financials quoted exclude Nomad Foods Ltd expenses. A fresh look at frozen 11
Slide 12: Iglo Group: EBITDA flat Year-on-Year in H1
Iglo Group: EBITDA flat Year-on-Year in H1 €m YTD 2014 YTD 2015 Delta Comments Reported Net Revenue decline year-on-year was (2.4)%. Allowing for Net Revenue 761.2 743.1 -18.1 currency impacts, the exit from Romania, Slovakia & Turkey and the impact of one less trading day like-for-like Net Sales de
Slide 13: Cash Flow Generation Remains Strong
Cash Flow Generation Remains Strong €m YTD/14 YTD/15 Delta EBITDA before non-recurring (@ act. FX rate) 144.6 143.4 (1.2) Working capital movement 8.7 14.2 5.5 Pensions & other cash flows (0.8) (1.6) (0.8) Capital expenditure (6.0) (7.9) (1.9) Tax (6.4) (18.7) (12.3) Operating cashflow 140.1 129.4 (
Slide 14: Q&A
Q&A A fresh look at frozen 14