Nomad Foods Ltd

NOMD

Equity

ISIN VGG6564A1057 / Valor 24187083

New York Stock Exchange, Inc (2024-12-24)

USD 16.67+0.30%

Nomad Foods Ltd
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About company

Nomad Foods Ltd is a prominent player in the frozen food industry, holding a leading position in Europe and a significant presence globally. The company's portfolio includes well-known brands such as Birds Eye, Findus, and iglo, which have been catering to local European markets for decades. Findus, established in 1945, is recognized for its innovative approach and deep understanding of consumer preferences in the frozen food sector. Meanwhile, iglo stands out as the top frozen food brand in several European countries, including Germany, Austria, Netherlands, Belgium, and Portugal, with iconic products like Captain iglo and Blubb cream spinach.

Summarized from source with an LLMView SourceSector: Finance

Revenue Growth

Nomad Foods Ltd reported a revenue increase of 1.1% to €753 million for the second quarter of 2024, compared to the same period in 2023. This growth was driven by a favorable volume increase of 1.6%, although it was partially offset by a price/mix decline of 1.1%.

Gross Profit

For the second quarter of 2024, Nomad Foods Ltd's gross profit increased by 10.8% to €233 million. The gross margin also saw an improvement, rising by 270 basis points to 30.9%, attributed to a positive product mix performance and productivity initiatives.

Adjusted EBITDA

Nomad Foods Ltd reported an adjusted EBITDA increase of 5.3% to €139 million in the second quarter of 2024. This growth was driven by the company's strategic investments in high-margin products and productivity initiatives.

Adjusted EPS

In the second quarter of 2024, Nomad Foods Ltd achieved an adjusted EPS of €0.44, up from €0.40 in the same period of the previous year. This increase reflects the company's improved profitability and effective cost management strategies.

Full Year Guidance

Nomad Foods Ltd reiterated its full-year 2024 financial guidance, expecting organic revenue growth of 3%-4%, adjusted EBITDA growth of 4%-6%, and adjusted EPS in the range of €1.75-€1.80. The company remains confident in its ability to achieve these targets based on current performance trends.

Summarized from source with an LLMView Source

Key figures

0.06%1Y

-33.7%3Y

-23.0%5Y

Performance

23.2%1Y

30.0%3Y

29.4%5Y

Volatility