Nomad Foods steers to second-quarter sales decline, flat EBITDA

Nomad Foods is "evaluating" its EPS guidance connected the backmost of a refinancing workout arsenic the frozen nutrient radical pointed to different 4th of declining sales.

Alongside a trading update contiguous (20 July), New York-listed Nomad Foods said it plans to merchantability €800m ($914.7m) successful indebtedness owed successful 2033 to regenerate its existing notes for the aforesaid magnitude maturing successful 2028.

In what CEO Dominic Brisby described arsenic a "transition year" erstwhile helium discussed the 2025 results successful February, income gross is inactive expected to diminution implicit the afloat 12 months and to autumn by 2.5% to 3.5% successful the 2nd 4th successful some reported and integrated terms.

Second-quarter adjusted EBITDA is predicted to beryllium comparatively level with the aforesaid 3 months of past year, projected successful the scope of €120m to €126m, compared to €129m successful the year-earlier quarter, erstwhile the metric dropped 7.2%.

"The institution is evaluating its full-year EPS guidance arsenic a effect of anticipated indebtedness refinancing activities and the associated interaction of specified activities connected the company's anticipated involvement disbursal and adjusted nett income," Nomad Foods said successful the trading update.

"The execution of the company's program continues to advancement good successful this rebuilding year."

No elaborate appraisal of the forthcoming results was provided today.

However, Brisby said: "We are pleased to study that 2nd 4th results are projected to beryllium up of the expectations we communicated past 4th and we stay assured successful our quality to present connected the full-year integrated income and Adjusted EBITDA guidance.

"The maturation of our class remains robust and we person seen the palmy implementation of our antecedently announced terms increases contributing to a year-on-year summation successful gross borderline for the quarter. We look guardant to sharing much details erstwhile we study second-quarter 2026 results successful August."

Sales for the 2nd 4th of fiscal 2025 had dropped 0.8% to €747m and were down 1.1% connected an integrated basis. Volumes fell 1%. Adjusted EPS declined 9.1% to €0.40.

At the first-quarter signifier successful May, absorption had said adjusted EPS for the afloat twelvemonth was expected astatine €1.47-€1.62, versus its anterior guidance of €1.45-€1.60, owed to "incremental stock repurchase enactment during the archetypal quarter".

Elsewhere, Nomad Foods stuck with its 2026 outlook, anticipating a 2% to 5% diminution successful integrated gross and a 5-10% driblet successful adjusted EBITDA.

Discussing the 2025 results successful February, Brisby said marketplace stock was retained for the Birds Eye and Findus marque proprietor but worth stock was lost.

He said worth stock decreased 30 ground points that year, taking the nonaccomplishment to 190 ground points since 2021.