Nomad Foods, maker and marketer of Iglo, Birds Eye and Findus frozen food brands in Europe, has announced a 14.6% increase in turnover to £618 million during the first quarter of 2019. Organic revenue growth amounted to 0.9% compared with figures during the first three months of 2018, and profit for the period was €22 million. Adjusted EBITDA increased 18% to €122 million, while adjusted EPS rose 14% to €0.40.
“We achieved strong performance during the first quarter and are on pace to deliver another year of revenue and adjusted EBITDA growth in line with our long-term growth algorithm. Organic revenue growth was achieved despite a later Easter this year, reflecting our ability to consistently execute against our growth model,” said Stéfan Descheemaeker, chief executive officer of the Feltham, England-headquartered company.
Stuart MacFarlane Joins Board
Meanwhile, Stuart MacFarlane was appointed to the board of directors of Nomad Foods on May 8. During the past six years he has served as zone president for Anheuser-Busch InBev’s Europe and Middle East operations from 2014-19.
MacFarlane has held various senior roles at ABInBev throughout the course of his nearly three-decade career, including positions in finance, marketing and sales. The seasoned executive was named president of ABInBev UK and Ireland in 2008, and in 2012 became a member of the executive board of management, serving as president of operations in Central and Eastern Europe.
Nomad Foods’ new board member is also a current director and member of the corporate governance committee of Anadolu EFES, a brewing company, and had previously served as director of ABI-EFES Russia and Ukraine, a joint venture of Anadolu EFES and ABInBev. He has a degree in business studies from Sheffield University in the UK and is a qualified chartered management accountant.
“We are delighted to welcome Stuart,” said Noam Gottesman, Nomad Foods’ co-chairman and founder. “We look forward to benefiting from his vast experience across the consumer packaged goods sector, particularly within Europe.”
