Nomad Foods: Reports Q2-2024 Financial Results

Feltham / UK. (nom) Nomad Foods Limited (Goodfella’s Pizza, Iglo, Findus and other brands) reported financial results for the three and six month period ended June 30, 2024.

Chief Executive Officer Stéfan Descheemaeker: «I am pleased to report strong 2Q results that demonstrate the growing momentum behind our business. Volume inflected to growth behind accelerating gains in our must-win-battles and the successful build-out of our growth platforms. Growth from these high margin products combined with our productivity initiatives to drive healthy gross margin expansion which provided the funding to meaningfully increase our A+P spend. Our investments are bearing fruit for both us and our retail partners – we see accelerating momentum ahead as our investment posture remains robust, our innovation efforts build and the distribution expansion behind our growth platforms scales. As a result, we are increasingly confident in our ability to achieve the profitable volume growth acceleration that underpins our second half outlook. We are maintaining our full year guidance to deliver revenue growth of 3 percent-4 percent, Adjusted Ebitda growth of 4 percent-6 percent, and Adjusted EPS of €1.75-€1.80»

Co-Chairman and Founder Noam Gottesman: «This year is proving to be pivotal for our business as we have shifted from protecting profitability during a once-in-a generation inflation shock to driving our volume and mix-driven growth. We are benefiting from an improving European consumer backdrop and strong category fundamentals which, combined with prudent investments and execution from the team, sets us up for continuing success. I am delighted to see these efforts already bearing fruit in the form of resumed volume growth this quarter and look forward to accelerating momentum through year-end and into 2025.» For additional information please read the Company’s PDF file below (339 KB):

20240810-NOMAD-FOODS-Q22024.