Nomad Foods Limited · NYSE:NOMD
Nomad Foods — Q3 2019 Earnings Presentation
19 slides from Nomad Foods's earnings presentation, Nov 7, 2019
Slide 1: Third Quarter 2019 Earnings Results
Third Quarter 2019 Earnings Results November 7, 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: Third Quarter 2019 Financial Results Overview
Third Quarter 2019 Financial Results Overview Organic Revenue Adjusted Gross Margin Adjusted EBITDA Growth Adjusted EPS +2.5% 29.5% €96M €0.25/share +4.0% price +110 bps +14% growth 4% decline (1.5%) volume/mix Notes: Adoption of IFRS 16 benefited Adjusted EBITDA by €4.5 million. The disparity betwe
Slide 4: Third Quarter 2019 Highlights
Third Quarter 2019 Highlights Balanced performance across revenue, margin and cash flow metrics Organic revenue growth +2.5% driven by Core growth +5% 4 of top 5 markets grew in Q3 including UK, Italy, Germany and France Rolled out innovation across fish, vegetable and plant protein categories 4
Slide 5: Encouraging Performance from New Innovation Platforms
Encouraging Performance from New Innovation Platforms Artisan Veggie Power Green Cuisine coated fish assortment modern vegetable blends pea protein sub-brand 5
Slide 6: Third Quarter 2019 Key Operating Metrics
Third Quarter 2019 Key Operating Metrics (in €m unless otherwise noted) 3Q 2019 3Q 2018 YoY Change Revenue €540 €531 1.8% Organic revenue growth 2.5% Adjusted gross profit 159 151 6% Adjusted gross margin1 29.5% 28.4% 110 bp Adjusted operating expense (80) (79) 1% Advertising & promotion expense (27
Slide 7: Key Free Cash Flow Metrics
Key Free Cash Flow Metrics (in €m unless otherwise noted) Nine months ended Nine months ended September 30, 2019 September 30, 20181 Adjusted EBITDA2 316 276 Change in working capital (96) (116) Capital expenditures3 (29) (21) Cash taxes (29) (11) Cash interest & other4 (45) (31) Adjusted free cash
Slide 8: Narrowing 2019 Guidance
Narrowing 2019 Guidance Organic Revenue Growth Adjusted EBITDA Adjusted EPS1 Growth at a approximately approximately Low-single digit €425 to €430 €1.20 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 t
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 – September 30, 2019 compared with September 30, 2018 Three months ended Nine months ended September 30, 2019 September 30, 2019 YoY Growth YoY Growth Reported Revenue Growth 1.8% 8.9% Of which: - Organic Revenue Growth 2.5%
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 September 30, 2019 As reported for the As adjusted for the € in millions, except per share data three months ended Adjustments three months ended September 30, 2019 September 30, 2019
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 September 30, 2018 As reported for the As adjusted for the € in millions, except per share data three months ended Adjustments three months ended September 30, 2018 Septem
Slide 16: Reconciliation of Non-IFRS Financial Measures
3. Reconciliation of Non-IFRS Financial Measures Adjusted Statement of Profit or Loss (unaudited) Nine months ended September 30, 2019 As reported for the As adjusted for the € in millions, except per share data nine months ended Adjustments nine months ended September 30, 2019 September 30, 2019 Re
Slide 17: Reconciliation of Non-IFRS Financial Measures (continued)
3. Reconciliation of Non-IFRS Financial Measures (continued) Adjusted Statement of Profit or Loss (unaudited) Nine months ended September 30, 2018 As reported for the As adjusted for the € in millions, except per share data nine months ended Adjustments nine months ended September 30, 2018 September
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 Nine months ended € in millions September 30, September 30, September 30, September 30, 2019 2018 2019 2018 Profit for the period 39.2 36.
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 nine months ended September 30, 2019 and the nine months ended September 30, 2018 Nine months ended (in €m) September 30, 2019 September