Nomad Foods Limited · NYSE:NOMD
Nomad Foods — Q2 2021 Earnings Presentation
21 slides from Nomad Foods's earnings presentation, Aug 5, 2021
Slide 1: Second Quarter 2021 Earnings Results
Second Quarter 2021 Earnings Results August 5, 2021
Slide 2: Disclaimer
Disclaimer Certain statements and matters discussed in this Presentation, as well as the accompanying oral presentation, may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "aim", "anticipate", "bel
Slide 3: Second Quarter 2021 Highlights
Second Quarter 2021 Highlights Revenue Gross Adjusted Adjusted Growth Margin EBITDA EPS (1%) 50BPS €123M €0.40 (4.5%) organic YoY expansion 4% YoY growth 18% YoY growth 5% 50BPS 11% 22% 2-year CAGR 2-year 2-year CAGR 2-year CAGR average Reiterating Full Year 2021 Guidance
Slide 4: Second Quarter 2021 Highlights
Second Quarter 2021 Highlights ➢ Strong performance despite the easing of restrictions across Europe and anniversary of peak COVID-related demand ➢ Improving market share trends enabled by increased capacity and improving service levels ➢ Gross margin expansion driven by strong procurement execution
Slide 5: Green Cuisine Continues to Drive Penetration, Share and Trial
Green Cuisine Continues to Drive Penetration, Share and Trial
Slide 6: Expect to Acquire Fortenova's Frozen Food Business this Fall
Expect to Acquire Fortenova’s Frozen Food Business this Fall
Slide 7: Fortenova is a Highly Strategic and Financially Impactful Acquisition
Fortenova is a Highly Strategic and Financially Impactful Acquisition Expansion into new and attractive European markets with market leading brands Ledo and Frikom Entry into ice cream provides a new and exciting product adjacency to core savory portfolio Expected to be HSD% accretive to Adjusted EP
Slide 8: Second Quarter 2021 Key Operating Highlights
Second Quarter 2021 Key Operating Highlights (in €m unless otherwise noted) 2Q 2021 2Q 2020 YoY Change Revenue €596 €599 (1)% Organic revenue growth (4.5)% Gross profit 184 181 1% Gross margin 30.8% 30.3% 50 bp Adjusted operating expense (77) (79) (3)% Depreciation & amortization 17 17 (1)% Adjusted
Slide 9: Free Cash Flow Highlights
Free Cash Flow Highlights 6 months ended 6 months ended (in €m unless otherwise noted) June 30, 2021 June 30, 2020 Adjusted EBITDA €261 €239 Change in working capital (55) 96 Capital expenditures1 (34) (24) Cash taxes (31) (29) Cash interest & other2 (38) (39) Adjusted free cash flow €103 €243 Adjus
Slide 10: Reiterate 2021 Guidance of 10%+ Adjusted EPS Growth
Reiterate 2021 Guidance of 10%+ Adjusted EPS Growth TOTAL ORGANIC ADJUSTED EPS Revenue Growth Revenue Growth Growth Approximately Approximately Approximately 3 - 5% 1 - 2% 11 - 15% Adjusted EPS €1.50 - 1.55 $1.79 - 1.85 USD equivalent 2021 Guidance figures converted to USD, the currency in which Nom
Slide 11: Questions?
Questions?
Slide 12: Appendix
Appendix
Slide 13: Reconciliation of Non-IFRS financial measures
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. Reconcil
Slide 14: 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 15: Reconciliation of reported to organic revenue growth
2. Reconciliation of reported to organic revenue growth Year on Year Growth - June 30, 2021 compared to June 30, 2020 Three months ended June Six months ended June 30, 2021 30, 2021 YoY Growth YoY Growth Reported Revenue Growth (0.5)% 1.7% Of which: - Organic Revenue Growth (4.5)% (1.2)% - Acquisiti
Slide 16: 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, 2021 As reported for the three months As adjusted for the three months € in millions, except per share data ended June 30, 2021 Adjustments ended June 30, 2021 Revenue 595.8
Slide 17: 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, 2020 As reported for the three months As adjusted for the three months € in millions, except per share data ended June 30, 2020 Adjustments ended June 30, 2020 Revenue 599.0
Slide 18: 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, 2021 As reported for the six months As adjusted for the six months € in millions, except per share data ended June 30, 2021 Adjustments ended June 30, 2021 Revenue 1,303.2 — 1,
Slide 19: 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, 2020 As reported for the six months As adjusted for the six months € in millions, except per share data ended June 30, 2020 Adjustments ended June 30, 2020 Revenue 1,281.9 — 1,
Slide 20: 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, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Profit for the period 51.2 62.6 100.5 110.0 Taxatio
Slide 21: 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, 2021 and the six months ended June 30, 2020 a. Adjustment to add back cash flows related to exceptional items