Nomad Foods Limited · NYSE:NOMD
Nomad Foods — FY2015 Earnings Presentation
17 slides from Nomad Foods's earnings presentation, Mar 31, 2016
Slide 1: Earnings Conference Call 2015 Update
Earnings Conference Call 2015 Update Thursday, March 31st 2016 These materials may not be used or relied upon for any purpose other than as specifically contemplated by a written agreement with Credit Suisse AG or its Affiliates (hereafter “Credit Suisse”).
Slide 2: Disclaimer
Disclaimer BY READING THIS PRESENTATION, YOU ARE DEEMED TO HAVE READ AND ACCEPTED THE STATEMENT BELOW. This presentation has been prepared by Nomad Foods Limited. This presentation provides information about Nomad Foods Limited and its subsidiaries. Any references to Nomad shall mean Nomad Foods Lim
Slide 3: Today's Presenters
Today’s Presenters Stéfan Descheemaeker Paul Kenyon CEO CFO 2
Slide 4: Agenda
Agenda 1 2015 Financial Performance 2 Synergy Update 3
Slide 5: Investment Highlights
Investment Highlights Platform to Lead Consolidation Leading Player in the Large and Iconic Brands with Strong in the Fragmented Global Food Resilient Western European Brand Equity Sector Frozen Food Market Attractive Financial Experienced Team with a Multiple Organic Growth Characteristics and Sign
Slide 6: 1. 2015 Financial Performance
1. 2015 Financial Performance
Slide 7: Q4 Operating Performance
Q4 2015 Pro Forma as Adjusted Operating Performance €m Q4/14 Q4/15 Delta Revenue 547.0 528.8 -18.2 Gross Profit 181.2 155.4 -25.8 Gross profit margin (%) 33.1% 29.4% -3.7% A&P -31.1 -25.0 6.1 A&P (% Revenues) 5.7% 4.7% -1.0% Indirects -52.8 -54.8 -2.0 Indirects (% Revenues) 9.6% 10.4% 0.8% Depreciat
Slide 8: Q4 Performance Highlights
Q4 2015 Pro Forma as Adjusted Performance Highlights Q4 Performance Revenue was down €18.2m, or 3.3%, year-on-year. Adjusting for currency impacts, the exit from Romania, Slovakia, Turkey & Russia, differences in the number of trading days, and the business acquisitions of La Cocinera in Spain, th
Slide 9: Operating Performance
2015 Pro Forma as Adjusted Operating Performance €m 2014 2015 Delta Revenue 2,113.3 2,051.7 -61.6 Gross Profit 672.9 618.6 -54.3 Gross profit margin (%) 31.8% 30.2% -1.6% A&P -135.6 -119.3 16.3 A&P (% Revenues) 6.4% 5.8% -0.6% Indirects -212.4 -204.0 8.4 Indirects (% Revenues) 10.1% 9.9% -0.2% Depre
Slide 10: Performance Highlights
2015 Pro Forma as Adjusted Performance Highlights 2015 Performance Pro Forma As Adjusted Revenue declined by 2.9% from €2113.3 million to €2051.7 million. Allowing for currency impacts, the impact of exits from Romania, Slovakia, Turkey & Russia, business acquisitions and business disposals, lik
Slide 11: Revenue Bridge
2015 Pro Forma as Adjusted Revenue Bridge Pro Forma as Adjusted Revenue LFL: (4.9%) FX Iglo Group (7.3%) Findus Group +1.3% Pro Forma As Adjusted financial information for the twelve months ended December 31, 2015 include the reported results of Nomad Foods for such period (which include the results
Slide 12: Gross Profit Bridge
2015 Pro Forma as Adjusted Gross Profit Bridge Pro Forma as Adjusted Gross Margin: (160)bps 31.8% FX Iglo Group Findus 30.2% Pro Forma As Adjusted financial information for the twelve months ended December 31, 2015 include the reported results of Nomad Foods for such period (which include the result
Slide 13: EBITDA Bridge
2015 Pro Forma as Adjusted EBITDA Bridge Adjusted EBITDA Margin: (80)bps 17.6% Iglo Group 19.6% Findus Group 10.5% 16.8% Pro Forma As Adjusted financial information for the twelve months ended December 31, 2015 include the reported results of Nomad Foods for such period (which include the results of
Slide 14: Nomad Pro Forma as Adjusted Cashflow
Nomad Pro Forma as Adjusted Cashflow YTD/14 YTD/15 Pro Forma as Adjusted EBITDA 371.7 345.2 Working capital movement 7.7 4.5 Pensions & other cash flows (6.9) (8.3) Capital expenditure (40.7) (48.3) Tax (31.6) (32.5) Operating cashflow 300.2 260.6 Restructuring & non-recurring (non-capital) (59.4) (
Slide 15: 2. Synergy Update
Nomad Foods 2. Synergy Update
Slide 16: Findus Synergy and Integration
Findus Synergy and Integration o High level of confidence to deliver potential €43 million to €48 million by 2018 o Potential Incremental manufacturing footprint rationalization included within synergy target o Potential Incremental reduced working capital and future capex requirements €43m Commerci
Slide 17: Q&A
Nomad Foods Q&A