Ahead of its presentation at the 27th Annual ICR Convention in Orlando, Florida, Nomad Foods on January 14 provided an update on its in-market performance and detailed its strategy and tactics to sustain momentum. The Woking, England-headquartered pan-European frozen food company reported continued market share gains through the fourth quarter with accelerating volume growth as investments behind its commercial flywheel delivered results.Sustained positive momentum is expected to continue.
For the full year 2025, Nomad Foods anticipates organic revenue growth of 1%-3%, Adjusted EBITDA growth of 2%-4%, despite plans to meaningfully increase investment in products and brands again in 2025, and Adjusted EPS of €1.81-€1.85. The company also expects full year adjusted free cash flow conversion of 90% or greater. Management remains confident in its ability to achieve its previously issued full year 2024 guidance and will provide detailed results when it reports fourth quarter earnings.
CEO Stéfan Descheemaeker stated: “I am pleased with the strong momentum we have built across our portfolio as we enter 2025, which will mark our 10th anniversary as a public company. Our strategy is working as evidenced by the positive market share inflection we achieved in the second half of 2024 and the strong volume growth we expect to deliver in the fourth quarter of 2024. The increased investments we have made behind our advertising, innovation, renovation and merchandising are delivering strong returns and we will continue reinvesting to fuel the momentum in 2025.”
He continued: “We enter the new year with a portfolio that is well positioned for evolving consumer trends with more than two-thirds of our revenue expected to be generated from great tasting and nutritious seafood, poultry and vegetable products. Furthermore, we benefit from a frozen category that is seeing sustained volume growth with a long runway ahead of it. We expect to leverage these tailwinds to deliver another year of top-tier Food industry growth as we once again increase our advertising, innovation and renovation rates to fuel growth for us and our retail partners. We expect to fund this growth by focusing our investment on our higher margin must win battles and growth platforms while executing on our revenue growth management and productivity programs to deliver robust Adjusted EBITDA and Adjusted free cash flow. We are excited to celebrate our 10-year anniversary as a public company by delivering our 10th consecutive year of revenue and Adjusted EBITDA growth!”
