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Nomad Foods Limited reports developments for a European frozen-food business built around branded products sold through grocery retail channels. Its portfolio includes Birds Eye, Findus, iglo, Ledo and Frikom, with frozen categories that include fish, vegetables, poultry, ice cream and ready meals across Western European markets.
Recurring news includes quarterly and annual financial results, organic revenue trends, volume and price/mix performance, margins, Adjusted EBITDA, Adjusted EPS, guidance, productivity programs and cash generation. Company updates also cover quarterly cash dividends, share repurchases, annual report availability, capital actions and organizational changes tied to its operating performance.
Nomad Foods reported a 15% increase in full year Adjusted EPS to €1.55, achieving record annual revenue for the fifth consecutive year. For 2021, total revenue grew 3.6% to €2,607 million, although organic revenue declined by 2.1%. The fourth quarter saw revenue rise 7.0% to €704 million, but organic revenue fell 4.5%. Key challenges include a 10% drop in adjusted gross profit in Q4 and 500 basis points decline in gross margin. Looking ahead, management projects double-digit growth in Adjusted EPS for 2022, estimating a range of €1.71 to €1.75.
Nomad Foods Limited (NYSE: NOMD) will report its fourth quarter and full year results on February 24, 2022, before the NYSE market opens. A conference call will take place at 8:30 AM EST featuring the executive management team to discuss the results. North American listeners can dial +1-877-451-6152 to participate. Additionally, CEO Stefan Descheemaeker and CFO Samy Zekhout will present at the 2022 CAGNY Virtual Conference the same day at 1:50 PM EST, with a video available on the Nomad Foods website.
Nomad Foods (NYSE: NOMD) reported Q3 2021 results, showcasing a 4% revenue increase to €599 million, but recorded a 1.4% organic revenue decline. The profit for the period was €52 million, and Adjusted EBITDA rose 4% to €113 million. Adjusted EPS increased by 17% to €0.35, indicating resilience amid industry challenges. Management reiterated an Adjusted EPS guidance of €1.50 to €1.55 for 2021. The company is focused on sustainable growth, supported by successful acquisitions and a solid balance sheet.
Nomad Foods (NYSE: NOMD) has announced it will report third-quarter 2021 results before the market opens on November 4, 2021. A conference call with executive management will follow at 8:30 AM EDT on the same day. Investors can access a live audio webcast and presentation on the company's website, with a replay available for two weeks post-event. Nomad Foods is Europe's leading frozen food company, recognized for brands like Birds Eye and Findus. More information is available at www.nomadfoods.com.
Nomad Foods has successfully acquired Fortenova Group’s frozen food business for approximately €615 million. This acquisition is anticipated to significantly contribute to revenue growth, with mid-single digit revenue growth expected in 2021. The company maintains its guidance for Adjusted EPS at €1.50 to €1.55, despite some seasonal losses from the acquired business. The integration is projected to lead to substantial synergies, enhancing profitability and market share in new European markets such as Croatia, Serbia, and Hungary.
Nomad Foods has entered a landmark collaboration with BlueNalu to explore the introduction of cell-cultured seafood in Europe. This agreement marks the first of its kind in the region between a consumer packaged goods company and a cell-cultured seafood company. The partnership aims to leverage rising demand for sustainably produced seafood while supporting the long-term availability of healthy options. Key steps include market research, regulatory assessment, and exploring new business opportunities.
Nomad Foods (NYSE:NOMD), Europe's largest frozen food producer, has set new greenhouse gas (GHG) emissions reduction targets approved by the Science Based Targets initiative (SBTi). By 2025, the company aims for a 45% reduction in GHG emissions per ton of product produced, along with a 25% reduction in absolute terms. Additionally, top suppliers covering 80% of emissions will establish their own science-based targets. These actions are part of Nomad's ongoing commitment to sustainability and net-zero ambitions.
Nomad Foods (NYSE: NOMD) will have CEO Stefan Descheemaeker and CFO Samy Zekhout at the Barclays Global Consumer Staples Virtual Conference on September 9, 2021, at 12:40 p.m. ET. Investors and interested parties can listen to the audio webcast on Nomad Foods’ official website. As Europe’s leading frozen foods company, Nomad Foods boasts popular brands like Birds Eye and Findus, known for their high-quality and nutritious products. For more details, visit Nomad Foods.
Nomad Foods (NYSE: NOMD) reported Q2 2021 financial results showing a 1% revenue decline to €596 million and an organic revenue decline of 4.5%. However, adjusted EBITDA increased 4% to €123 million, and adjusted EPS rose 18% to €0.40. Profit for the period was €51 million. The company reiterated its 2021 guidance with revenue and adjusted EBITDA growth of 3-5% expected. A new share repurchase authorization of up to $500 million was approved, replacing the nearly exhausted previous program.
Nomad Foods Limited (NYSE: NOMD) will announce its second quarter results on August 5, 2021, before market opening. The conference call with the executive management team is scheduled for the same day at 8:30 AM EDT. This call will provide insights and discussions regarding the financial results. A live audio webcast and presentation will be accessible on Nomad Foods' investor relations website, with a replay available for two weeks post-event. Nomad Foods is recognized as Europe's leading frozen food company, featuring well-known brands such as Birds Eye and Findus.