Nomad Foods Financial Overview
Nomad Foods Limited (NOMD) reported impressive financial results for the fiscal year 2024, celebrating its 9th consecutive year of achieved record net sales and Adjusted EBITDA. The company achieved an Adjusted EPS of €1.78 in this period. As part of its commitment to positive growth, Nomad Foods has lifted its full-year 2025 Adjusted EPS guidance to between €1.85 and €1.89.
Key Highlights from 2024 Financial Results
During fiscal year 2024, Nomad Foods experienced robust organic sales growth, attributed primarily to increased volumes, alongside significant margin expansions and market share growth. The company distributed a total of €208 million to shareholders through dividends and share repurchases, showcasing its dedication to returning value while maintaining financial strength. Looking ahead, the company expects this upward momentum to continue into 2025, with continued growth projected across both revenue and profit margins.
Fourth Quarter Performance Details
In the fourth quarter of 2024, compared to the same period in 2023, Nomad Foods achieved substantial improvements:
- Revenue climbed by 4.3% to €793 million.
- Organic revenue growth measured at 3.1%, driven by a volume growth of 4.7% despite slight pricing pressures.
- Adjusted EBITDA surged 17.6% to €137 million.
- Adjusted EPS increased by 31% to €0.42.
Full Year 2024 Performance
The overall financial performance for 2024 saw key metrics increase compared with 2023:
- Total revenue expanded by 1.8% to €3.1 billion.
- Organic revenue growth was 1.0% alongside a volume growth of 1.3%.
- Adjusted free cash flow reached €292 million with strong conversion at 101%.
- Adjusted EPS grew by 11% to €1.78.
Looking Ahead to 2025
Forecasts for 2025 remain optimistic, anticipating organic revenue growth between 1%-3% and Adjusted EBITDA growth of 2%-4%. Nomad Foods aims for an Adjusted EPS within a target range of €1.85 to €1.89. This represents an expected growth rate of 4% to 6% compared to previous predictions. Investment in products and brands is set to increase significantly through the year, with an anticipated free cash flow conversion of at least 90%.
Management Insights
The CEO of Nomad Foods, Stéfan Descheemaeker, noted the strong impact of strategic brand investments and operational success, commenting on the company's commitment to innovation. As Nomad Foods enters 2025, confidence in their strategy remains high, including the potential for an additional consecutive year of sales and adjusted EBITDA growth.
Comments from Leadership
Noam Gottesman, Co-Chairman and Founder of Nomad Foods, shared his excitement regarding the growth trajectory of the company as it enters its tenth year as a public entity. He reiterated the strength of Nomad's unique product portfolio and its advantage within the competitive food industry, suggesting a continuation of the current performance trend.
Company Contact Information
For inquiries related to investor relations, please reach out to Jason English.
Frequently Asked Questions
What were Nomad Foods' earnings for 2024?
Nomad Foods reported an Adjusted EPS of €1.78 for the fiscal year 2024.
What is Nomad Foods' earnings outlook for 2025?
The company has raised its earnings guidance for 2025, expecting an Adjusted EPS between €1.85 and €1.89.
How did Nomad Foods perform in the fourth quarter of 2024?
In Q4 2024, revenue increased by 4.3% to €793 million, with Adjusted EBITDA rising to €137 million.
What are Nomad Foods' plans for shareholder returns?
Nomad Foods returned €208 million to shareholders in 2024 through dividends and share repurchases.
Who can be contacted for investor inquiries related to Nomad Foods?
Inquiries may be directed to Jason English, the company's investor relations contact.
