Nomad Foods Unveils Savings Plan Weeks After Guidance Cut

Birds Eye and Iglo proprietor Nomad Foods wants to make €200m ($233.1m) successful savings by nan extremity of 2028.

The European frozen-foods group is eyeing savings successful procurement, logistics and overheads.

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Nomad Foods made nan announcement coming (3 September) up of its management’s quality astatine an investor convention successful nan US and weeks aft nan institution trim its forecasts for yearly income and earnings.

The UK-headquartered business said it has group up an “efficiency programme” designed to make €200m of “operational savings” crossed its 2026 to 2028 fiscal years.

Nomad Foods said nan savings are expected to beryllium “broad-based” but underlined nan largest publication would travel from a “transformation” programme successful procurement

The institution besides wants to amended its “utilisation” of its manufacturing network, trim logistics costs and “unlock overhead efficiencies”.

Nomad Foods believes nan savings will let nan business to make “targeted reinvestments” and “mitigate” unit from inflation.

CEO Stéfan Descheemaeker said: “While we person faced challenges successful 2025, we are proud to person successfully stabilised marketplace share, demonstrating that our commercialized flywheel is working.”

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

Descheemaeker said astatine nan clip 2025 was “proving to beryllium much challenging than expected”. 

The business projected 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 Foods sees its yearly adjusted EBITDA declining 3-7%, down from its erstwhile forecast of level to up 2%.

The institution said coming it is targeting “compound yearly adjusted EBITDA growth” of 1-3% complete nan 2026 to 2028 period.

It is not guiding to circumstantial gross targets but is aiming to turn integrated income in-line pinch nan European stiff category. Citing GlobalData, Nomad Foods said nan marketplace had “historically grown income successful a low-single-digit range”.