Welcome to our dedicated page for Nomad Foods news (Ticker: NOMD), a resource for investors and traders seeking the latest updates and insights on Nomad Foods stock.
Nomad Foods Ltd (NOMD), a leader in Europe's frozen food sector, provides this centralized hub for all official company announcements and market updates. Access timely press releases covering financial results, product innovations, and strategic initiatives from the trusted source behind iconic frozen food brands.
This resource serves investors and industry professionals seeking comprehensive updates on NOMD's retail partnerships, manufacturing developments, and market positioning. Find verified information on earnings reports, sustainability efforts, and operational milestones without promotional content.
All content originates from official Nomad Foods communications, ensuring accuracy for those analyzing the packaged foods sector. Regular updates include quarterly financial disclosures, leadership announcements, and product line expansions within the frozen meals category.
Bookmark this page for direct access to NOMD's latest corporate developments. Combine these primary sources with broader market analysis to maintain informed perspectives on this established frozen foods manufacturer.
Nomad Foods (NYSE: NOMD) has appointed Ruben Baldew as Chief Financial Officer, effective June 17, 2024, pending work authorizations. Baldew replaces Samy Zekhout, who will remain until July 31, 2024, to facilitate a smooth transition. Baldew brings over 20 years of global consumer products experience, including a successful tenure as CFO of Accell Group. Baldew's prior roles at Unilever spanned various international finance positions.
CEO Stefan Descheemaeker expressed confidence in Baldew's dynamic leadership and thanked Zekhout for his significant contributions, highlighting Nomad Foods' consistent growth in organic revenue, EBITDA, and EPS during Zekhout's tenure. Co-Chairman Noam Gottesman praised Zekhout's impact on shareholder value and welcomed Baldew's strategic expertise.
Nomad Foods reported first-quarter 2024 financial results with revenue growth of +1.1% and Adjusted EPS of €0.37. The company reiterated full-year 2024 financial guidance, expecting revenue growth of 3%-4%, Adjusted EBITDA growth of 4%-6%, and Adjusted EPS of €1.75-€1.80. Key operating highlights included a 0.3% organic revenue growth and a decrease in Adjusted EBITDA by 16.4% to €122 million. Despite challenges like gross profit decrease, the company remains positive about the growth outlook and confident in generating superior returns for shareholders.
Nomad Foods declared a quarterly cash dividend of $0.15 per share on its ordinary shares. The dividend will be paid on May 28, 2024, to shareholders of record on May 9, 2024. Nomad Foods is Europe's top frozen food company, with well-known brands like Birds Eye and Findus, known for quality and convenience.
Nomad Foods successfully repriced its existing USD denominated Term Loan, resulting in an annual cash savings of approximately USD 3.5 million. The margin on the Term Loan will be reduced by 50 basis points to SOFR + 250 basis points without changing the maturity. This move reflects lenders' confidence in Nomad Foods' operational performance and growth strategy, enhancing financial flexibility.
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