![]() ![]() “Most importantly, we adjusted our business model in response to extraordinary changes in the market, especially in raw material sourcing and portfolio pricing. Total adjusted EBITDA was up slightly to €113m and adjusted profit after tax decreased 1% to €58m.įor the full year 2023, management expects adjusted earnings per share of €1.50 to €1.55, assuming mid-single-digit revenue growth.įor 2022, adjusted EPS increased 8% to €1.68 and reported EPS increased 40% to €1.43.ĬEO Stéfan Descheemaeker commented: “We are pleased to report that 2022 was another year of record revenue, adjusted EBITDA and adjusted EPS for Nomad Foods, again proving the resilience of our operating model in a challenging macro environment. Organic revenue at the Birds Eye and Findus owner increased 1.8%, which was driven by a 5.9% decline in volume/mix and a 7.7% increase in price.įor the fourth quarter, sales were up 6.6% to €750m, helped by a rebound in organic growth to 7.7% despite a 8.1% decline in volume/mix as prices were hiked by 15.8%.įull-year adjusted gross profit increased 3% to €193m, with margin down by 80 basis points to 25.7%, driven by higher raw material costs in turn driven by inflation, partially offset by higher pricing.Īdjusted operating expenses increased 9% to €103m, primarily reflecting a number of one-off costs, including a €4.5m cost of living payment support package for employees. Lumina Intelligence: UK Food & Drink Reportsįrozen foods specialist Nomad Foods grew sales to almost €3bn last year as acquisitions and price growth mitigated a fall in sales volumes.įor the full year 2022, total revenue increased 12.8% to €2.94bn, boosted by its acquisition of Fortenova’s frozen food business. ![]()
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