Nomad Foods Cuts Sales, Ebitda Guidance

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Nomad Foods has revised its gross and adjusted EBITDA forecasts for 2025, citing weaker-than-expected first-half results.  

Announcing nan frozen-food group’s second-quarter results, CEO Stéfan Descheemaeker said 2025 is “proving to beryllium much challenging than expected”. 

The UK-based business now projects its full-year integrated gross will astatine champion beryllium level successful 2025, or, astatine worst, autumn 2%. It had previously forecast a scope of level to up 2%. 

Nomad now sees its yearly adjusted EBITDA declining 3-7%, down from its erstwhile forecast of level to up 2%.

The Findus’ owner’s adjusted net per stock (EPS) is now anticipated to beryllium betwixt €1.64 and €1.76, compared to nan erstwhile scope of €1.82 to €1.89.  

Nomad said nan little guidance will besides “enhance its expertise to sorb different unforeseen disruptions” successful nan second half of nan year. 

Descheemaeker said: “Record-setting lukewarm upwind crossed galore occidental European markets has disrupted user behaviour, starring to changes successful retailer merchandising strategies and contributing to measurement declines, peculiarly wrong our savoury stiff categories.” 

In nan 2nd quarter, Nomad’s gross decreased by 0.8% to €747m, pinch integrated gross declining by 1.1%. 

Nomad, which besides owns nan Birds Eye, Ledo, and Frikom brands, attributed nan diminution to a measurement alteration of 1% and a price/mix diminution of 0.1%.

Adjusted EBITDA decreased by 7.2% to €129m. Operating profit stood astatine €87.5m, down from €101.1m successful nan 2nd 4th of 2024. Net profit dropped 19.5% to €57.1m.

In nan first half of nan year, gross decreased by 1.9% to €1.51bn. Adjusted EBITDA decreased by 4.7% to €249m. Operating profit was down 6.8% astatine €161.3m. Net profit slid 14.8% to €89.8m.

Descheemaeker said nan marketplace conditions were “unfortunate” but “transitory” arsenic nan company’s “commercial flywheel remains effective”, pinch its “innovation and renewal initiatives gaining momentum”.