Nomad Foods Ltd

Latest Results (20.05.2026):

Nomad Foods Ltd — fourth quarter of 2025: The company reported Q4 2025 results with reported revenue down to €773m (‑2.6% y/y) and organic revenue down 1.3%, while adjusted measures held up better: Adjusted EPS rose 2.4% to €0.43 in the quarter even as reported EPS swung to a loss of €0.07 largely because of €57m of net tax losses from debt refinancing. Management calls 2026 a transition year as it implements cost and organizational changes to unlock value.

Q4 revenue and volumes

Q4 2025 reported revenue €773m (‑2.6% vs Q4 2024); organic revenue ‑1.3% driven by a 1.1% volume decline and a small price/mix decline (‑0.2%). Full year 2025 revenue was €3.0bn (‑2.2% y/y; organic ‑1.9%).

Margins

Q4 gross margin contracted sharply (reported down 290bps; adjusted down 240bps to 26.1%), citing supply‑chain inflation headwinds. Full‑year adjusted gross margin fell ~210bps to 27.5%.

Profitability and EPS

Q4 reported profit moved from €51m to a loss of €11m, including €57m of refinancing losses net of tax; reported diluted EPS fell to a €0.07 loss. Adjusted EPS for Q4 increased 2.4% to €0.43. For FY2025, reported diluted EPS was €0.91 (‑35%) and adjusted EPS was €1.66 (down ~6.7–7%).

Adjusted EBITDA and operating performance

Q4 adjusted EBITDA decreased 4.7% to €131m; full‑year adjusted EBITDA fell 7.5% to €523m. Adjusted operating expenses declined (Q4 down 15%, FY down 9%) reflecting overhead and A&P reductions.

Cash flow and returns to shareholders

Net cash from operating activities in 2025 was €331m; adjusted free cash flow €182m with 73% conversion. The company returned €287m to shareholders in 2025 (dividends + buybacks), a 38% increase vs 2024.

2026 guidance

For FY2026 management expects organic revenue to decline 2–5%, adjusted EBITDA to decline 5–10%, and adjusted EPS of €1.45–€1.60 (‑4% to ‑13%). They expect adjusted free cash flow conversion of ≥90% and translated 2026 Adjusted EPS of $1.71–$1.89 using the Feb 19, 2026 FX rate.

Management outlook and actions

New CEO Dominic Brisby (recent hire) describes 2026 as a transition year with organizational streamlining, talent changes and reinvestment plans to improve commercial execution; he intends to buy shares to align with shareholders. Board expresses support for the multi‑year value creation plan.

Productivity and cost actions

The company reported multi‑year high cost‑of‑goods savings in 2025 from its productivity program and continues to cite supply‑chain productivity partially offsetting inflation pressures, while further restructuring and cost discipline are underway. Summarized from source with an LLMView Source