Nomad Foods Limited · NYSE:NOMD
Nomad Foods — Q1 2016 Earnings Presentation
22 slides from Nomad Foods's earnings presentation, May 25, 2016
Slide 1: Earnings Conference Call Q1 2016 Update
Earnings Conference Call Q1 2016 Update Wednesday, May 25th 2016 These materials may not be used or relied upon for any purpose other than as specifically contemplated by a written agreement with Credit Suisse AG or its Affiliates (hereafter “Credit Suisse”).
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 Nomad Foods Limited. This presentation provides information about Nomad Foods Limited and its subsidiaries. Any references to Nomad shall mean Nomad Foods Lim
Slide 3: Today's Presenters
Today’s Presenters Stéfan Descheemaeker Paul Kenyon CEO CFO 2
Slide 4: Investment Highlights
Investment Highlights Platform to Lead Consolidation Leading Player in the Large and in the Fragmented Global Food Iconic Brands with Strong Resilient Western European Sector Brand Equity Frozen Food Market Attractive Financial Experienced Team with a Multiple Organic Growth Characteristics and Sign
Slide 5: Q1 2016 Financial Performance
Q1 2016 Financial Performance
Slide 6: Nomad Net Revenue Performance by Quarter
Nomad Net Revenue Performance by Quarter Pre-Nomad Strategy New Strategic Direction Strategic Review Food of Life Pan-European Ad Campaign Launch Revenue Management NPD Strategy Launches Cost Review New Packaging Launch Annual Promotional Changes Negotiations New Ad Renovation Campaign Launches Q4 Q
Slide 7: Q1 2016 As Adjusted Operating Performance
Q1 2016 As Adjusted Operating Performance €m Q1/16 Q1/15 Delta Revenue 547.1 570.8 -23.7 Gross Profit 167.5 178.7 -11.2 Gross profit margin (%) 30.6% 31.3% -0.7% A&P -28.8 -31.7 2.9 A&P (% Revenues) 5.3% 5.6% -0.3% Indirects -51.2 -52.7 1.5 Indirects (% Revenues) 9.4% 9.2% 0.2% Depreciation & Amorti
Slide 8: Q1 2016 As Adjusted Performance Highlights
Q1 2016 As Adjusted Performance Highlights Q1 Performance Revenue was down €23.7m, or 4.2%, year-on-year. Adjusting for currency impacts, the exit from Russia, an additional trading day in Q1 2016 due to the leap year and the business acquisition of La Cocinera in Spain, the like for like decline
Slide 9: Q1 2016 As Adjusted Revenue Bridge
Q1 2016 As Adjusted Revenue Bridge As Adjusted Revenue LFL : (6.1%) Nomad Foods is presenting As Adjusted financial information for the three months ended March 31, 2016. As Adjusted financial information for the three months ended March 31, 2016 includes the reported results of Nomad Foods for such
Slide 10: Q1 2016 As Adjusted Gross Profit Bridge
Q1 2016 As Adjusted Gross Profit Bridge As Adjusted Gross Margin: (0.7%) 31.3% 30.6% Nomad Foods is presenting As Adjusted financial information for the three months ended March 31, 2016. As Adjusted financial information for the three months ended March 31, 2016 includes the reported results of Nom
Slide 11: Q1 2016 As Adjusted EBITDA Bridge
Q1 2016 As Adjusted EBITDA Bridge As Adjusted EBITDA Margin: (0.3%) 18.5% 18.2% Nomad Foods is presenting As Adjusted financial information for the three months ended March 31, 2016. As Adjusted financial information for the three months ended March 31, 2016 includes the reported results of Nomad Fo
Slide 12: Q1 2016 As Adjusted Cashflow
Q1 2016 As Adjusted Cashflow Q1/16 Q1/15 Pro Forma As Adjusted EBITDA 99.6 105.6 Working Capital movement (7.0) (5.2) Pensions & Other Provisions movements (1.3) (2.2) Share Based Payment Charge 0.2 0.0 Capital Expenditure (5.8) (9.0) (1) Tax Paid (1.1) (8.2) Operating Cashflow 84.6 81.0 (2) Restruc
Slide 13: Q&A
Nomad Foods Q&A
Slide 14: Appendix
Nomad Foods Appendix
Slide 15: Q2 2015 Pro Forma As Adjusted Financial Information
Q2 2015 Pro Forma As Adjusted Financial Information Pro Forma as Adjusted Profit and Loss (unaudited) Three Months Ended June 30, 2015 (a) Adjustments to (i) decrease revenue by (€8.1) million for the differential in trading days between year-on-year periods, (ii) eliminate a €0.1 million credit fro
Slide 16: Q2 2015 Pro Forma As Adjusted Financial Information
Q2 2015 Pro Forma As Adjusted Financial Information EBITDA and Pro Forma As Adjusted EBITDA (unaudited) Three Months Ended June 30, 2015 (a) Includes costs incurred in relation to completed and potential acquisitions. (b) Elimination of charges at the Iglo Group level related to the purchase price e
Slide 17: Q3 2015 Pro Forma As Adjusted Financial Information
Q3 2015 Pro Forma As Adjusted Financial Information Pro Forma as Adjusted Profit and Loss (unaudited) Three Months Ended September 30, 2015 (a) Adjustments to (i) increase revenue by €1.1 million for the differential in trading days between year-on-year periods (ii) eliminate (€12.0) million of inte
Slide 18: Q3 2015 Pro Forma As Adjusted Financial Information
Q3 2015 Pro Forma As Adjusted Financial Information EBITDA and Pro Forma As Adjusted EBITDA (unaudited) Three Months Ended September 30, 2015 (a) Includes costs incurred in relation to completed and potential acquisitions. (b) Adjustment to eliminate long term management incentive scheme costs from
Slide 19: Q4 2015 Pro Forma As Adjusted Financial Information
Q4 2015 Pro Forma As Adjusted Financial Information Pro Forma as Adjusted Profit and Loss (unaudited) Three Months Ended December 31, 2015 (a) Findus Group results for the month ended October 31, 2015 have been constructed using unaudited carve out financial information prepared by the Seller, adjus
Slide 20: Q4 2015 Pro Forma As Adjusted Financial Information
Q4 2015 Pro Forma As Adjusted Financial Information EBITDA and Pro Forma As Adjusted EBITDA (unaudited) Three Months Ended December 31, 2015 (a) Includes costs incurred in relation to completed and potential acquisitions. (b) Adjustment to eliminate long term management incentive scheme costs from p
Slide 21: 2015 Pro Forma As Adjusted Financial Information
2015 Pro Forma As Adjusted Financial Information Pro Forma as Adjusted Profit and Loss (unaudited) Year Ended December 31, 2015 (a) Findus Group unaudited results for the ten months ended October 31, 2015 have been derived from the audited carve out accounts for the year to September 30, 2015, unaud
Slide 22: 2015 Pro Forma As Adjusted Financial Information
2015 Pro Forma As Adjusted Financial Information EBITDA and Pro Forma As Adjusted EBITDA (unaudited) Year Ended December 31, 2015 (a) Includes costs incurred in relation to completed and potential acquisitions. (b) Elimination of charges at the Iglo level related to the purchase price exercise on th