Nomad Foods Limited · NYSE:NOMD
Nomad Foods — Q2 2019 Earnings Presentation
19 slides from Nomad Foods's earnings presentation, Aug 8, 2019
Slide 1: Second Quarter 2019 Earnings Results
Second Quarter 2019 Earnings Results August 8, 2019
Slide 2: Disclaimer
Disclaimer This presentation has been prepared and issued by Nomad Foods Limited (the "Company"). This Presentation has been provided solely for information and background. The information in this Presentation is provided as at the date of the Presentation (unless stated otherwise). This Presentatio
Slide 3: Second Quarter 2019 Financial Results Overview
Second Quarter 2019 Financial Results Overview Organic Revenue Adjusted Gross Margin Adjusted EBITDA Growth Adjusted EPS +3.5% 29.8% €98M €0.27/share +4.0% price -70bp before the +10% growth 4% decline (0.5%) volume/mix effects of FX and acquisition mix Notes: Adjusted Gross Margin was also impacted
Slide 4: Second Quarter 2019 Highlights
Second Quarter 2019 Highlights Organic revenue growth of 3.5%, helped partly by Easter phasing Q2 represents a 10th consecutive quarter of organic revenue growth Core portfolio generated organic revenue growth of 7% Strongest organic revenue growth in Germany, Austria and Netherlands 4
Slide 5: Notable New Product Launches in 2019
Notable New Product Launches in 2019 Plant Protein Veggie Power 5
Slide 6: Second Quarter 2019 Key Operating Metrics
Second Quarter 2019 Key Operating Metrics (in €m unless otherwise noted) 2Q 2019 2Q 2018 YoY Change Revenue €538 €488 10.2% Organic revenue growth 3.5% Adjusted gross profit 160 154 4% Adjusted gross margin1 29.8% 31.5% (170) bp Adjusted operating expense (79) (76) 4% Advertising & promotion expense
Slide 7: Key Free Cash Flow Metrics
Key Free Cash Flow Metrics (in €m unless otherwise noted) Six months ended Six months ended June 30, 2019 June 30, 20181 Adjusted EBITDA2 220 192 Change in working capital (68) (49) Capital expenditures3 (17) (10) Cash taxes (17) (9) Cash interest & other4 (31) (22) Adjusted free cash flow €87 €102
Slide 8: 2019 Guidance
2019 Guidance Organic Revenue Growth Adjusted EBITDA Adjusted EPS1 Growth at a approximately approximately Low-single digit €420 to €430 €1.18 to €1.22 rate million per share 1Adjusted EPS assumes a diluted weighted average share count of 192 million shares for 2019 2019 guidance equates to the foll
Slide 9: Questions?
Questions?
Slide 10: Appendix
Appendix Nomad Foods 10
Slide 11: Contents
Contents The following tables have been included to allow users to reconcile Non-IFRS financial measures as well as Adjusted financial information included within this presentation to reported IFRS financial measures. 1. Definitions of Non-IFRS financial measures referred to in this presentation. 2.
Slide 12: Definitions of Non-IFRS financial measures referred to in this presentation
1. Definitions of Non-IFRS financial measures referred to in this presentation Non-IFRS financial measures should not be considered as substitutes for, or superior to, measures of financial performance prepared in accordance with IFRS. They are limited in value because they exclude charges that have
Slide 13: Reconciliation of reported to organic revenue growth
2. Reconciliation of reported to organic revenue growth Year on Year Growth – June 30, 2019 compared with June 30, 2018 Three months ended Six months ended June June 30, 2019 30, 2019 YoY Growth YoY Growth Reported Revenue Growth 10.2% 12.5% Of which: - Organic Revenue Growth 3.5% 2.1% - Acquisition
Slide 14: Reconciliation of Non-IFRS Financial Measures
3. Reconciliation of Non-IFRS Financial Measures Adjusted Statement of Profit or Loss (unaudited) Three months ended June 30, 2019 As reported for the As adjusted for the € in millions, except per share data three months ended Adjustments three months ended June 30, 2019 June 30, 2019 Revenue 537.8
Slide 15: Reconciliation of Non-IFRS Financial Measures (continued)
3. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Three months ended June 30, 2018 As reported for the As adjusted for the € in millions, except per share data three months ended Adjustments three months ended June 30, 2018 June 30, 2018 Re
Slide 16: Reconciliation of Non-IFRS Financial Measures
3. Reconciliation of Non-IFRS Financial Measures Adjusted Statement of Profit or Loss (unaudited) Six months ended June 30, 2019 As reported for the six As adjusted for the six € in millions, except per share data months ended June 30, Adjustments months ended June 30, 2019 2019 Revenue 1,155.6 — 1,
Slide 17: Reconciliation of Non-IFRS Financial Measures (continued)
3. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Six months ended June 30, 2018 As reported for the six As adjusted for the six € in millions, except per share data months ended June 30, Adjustments months ended June 30, 2018 2018 Revenue
Slide 18: Reconciliation of Non-IFRS Financial Measures (continued)
3. Reconciliation of Non-IFRS Financial Measures (continued) Reconciliation of Profit for the period to EBITDA and Adjusted EBITDA (unaudited) Three months ended Six months ended € in millions June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 Profit for the period 46.2 31.0 68.5 93.4 Taxation
Slide 19: Reconciliation of Non-IFRS Financial Measures (continued)
3. Reconciliation of Non-IFRS Financial Measures (continued) Reconciliation of reported net cash flows from operating activities to Adjusted free cash flow for the six months ended June 30, 2019 and the six months ended June 30, 2018 Six months ended (in €m) June 30, 2019 June 30, 2018 Net Cash Flow