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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 Limited (NYSE: NOMD) has made its annual report for the fiscal year ending December 31, 2022 available to shareholders. This comprehensive document includes audited financial statements and was filed with the U.S. Securities and Exchange Commission on February 23, 2023. Shareholders can access the report via the company's website or request a hard copy free of charge. Nomad Foods, headquartered in the UK, is Europe's leading frozen food company, known for well-established brands like Birds Eye and Findus. For more details, visit www.nomadfoods.com.
Nomad Foods (NYSE: NOMD) reported robust financial performance for 2022, achieving record annual revenue of €2.94 billion, up 12.8% year-over-year. The company also reported an Adjusted EPS of €1.68, a rise of 8%. For Q4 2022, revenue increased 6.6% to €750 million, with an Adjusted EBITDA of €113 million. The company plans to achieve 2023 Adjusted EPS between €1.50 and €1.55, assuming mid-single-digit revenue growth. Management notes the resilience of its operating model amid challenging market conditions and highlights the strong cash flow and financial flexibility to drive future growth.
Nomad Foods Limited (NYSE: NOMD) will announce its fourth quarter and full year 2022 results on February 23, 2023, before the market opens. A conference call will follow at 8:30 AM EST, allowing participation via North American and international calls. Additionally, Nomad's CEO Stefan Descheemaeker and CFO Samy Zekhout will present at the 2023 CAGNY Conference at 4:00 PM EST on the same day in Boca Raton, FL. Access to the live call and presentation will be available on the Nomad Foods website, where a replay will also be posted for two weeks.
Nomad Foods Limited has successfully issued a USD 700 million term loan and a EUR 130 million term loan, both maturing in 2029. The proceeds will be used to repay an existing USD 960 million term loan due in 2024 and cover transaction expenses. CFO Samy Zekhout expressed confidence in the refinancing, noting the favorable terms reflect the company's solid cash flow and business model. This refinancing extends debt maturities and provides interest rate certainty through new hedging arrangements. The loans will be secured by the company and its subsidiaries.
Nomad Foods Limited (NYSE: NOMD) reported a strong Q3 2022, achieving revenue growth of 26.7% to €760 million, driven by a 7.2% organic growth and acquisitions. Adjusted EPS increased 48.6% year-on-year to €0.52. Adjusted EBITDA rose 35.3% to €153 million. The company reaffirmed its full-year Adjusted EPS guidance of €1.65 to €1.71, indicating confidence in sustained growth and profitability. Debt refinancing positions the company for favorable long-term financing, with 75% of debt fixed until 2027.
On November 8, 2022, Nomad Foods announced the pricing of two term loans: a USD 700 million loan with a SOFR rate plus 3.75%, and a EUR 130 million loan with EURIBOR plus 3.5%, both due in 2029. The company will utilize the proceeds to repay an existing USD 960 million term loan maturing in 2024 and for general corporate expenses. Closing of the loans is expected on November 10, 2022, contingent upon standard conditions. Nomad Foods is a leading frozen food company in Europe, known for its brands like Birds Eye and Findus.
Nomad Foods announced a refinancing initiative to replace its USD 960 million Term Loan B due in mid-2024 with a new USD 825 million seven-year term loan. The refinancing aims to cover the existing loan and will include meetings with lenders anticipated soon. However, the company has cautioned that there are no guarantees regarding the refinancing's completion or terms. This information is not an offer to sell or solicit securities.
Nomad Foods is a leading European frozen food company.
Nomad Foods Limited (NYSE: NOMD) reported a strong performance for Q3 2022, with revenue rising by 26.7% to €760 million and organic revenue growth of 7.2%. The gross margin improved by 110 basis points to 29.1%, and Adjusted EBITDA surged 35.3% to €153 million. The company maintained its Adjusted EPS guidance at €1.65 - €1.71 for the full year, indicating positive growth potential. With double-digit price increases implemented to counteract rising costs, Nomad Foods positions itself for sustained growth into 2023.
Nomad Foods (NYSE: NOMD) will release its third quarter 2022 results on November 9, 2022, before the NYSE market opens. A conference call with the executive management team is planned for 8:30 AM EDT the same day.
Listeners can join the call via North American dial-in at +1-844-826-3033 or international dial-in at +1-412-317-5185. The event will also be webcast on the Nomad Foods website, with a replay available for two weeks post-event.
Nomad Foods Limited (NYSE: NOMD) will participate in a fireside chat at the Barclays Global Consumer Staples Conference on September 7, 2022, at 11:15 a.m. ET in Boston, MA. Key executives attending include Stefan Descheemaeker, Samy Zekhout, and Anthony Bucalo. An audio webcast will be accessible through Nomad Foods' website. Nomad Foods is Europe's leading frozen food company, known for brands like Birds Eye and Findus.