Nomad Foods Reports First Quarter 2025 Financial Results
PR Newswire
WOKING, England, May 8, 2025
Strong gross margin expansion helped fuel reinvestment
Retailer destocking & Easter timing offset retail sell-out growth
Recalibrating full year sales, Adjusted EBITDA and Adjusted EPS expectations
WOKING, England, May 8, 2025 /PRNewswire/ -- Nomad Foods Limited (NYSE: NOMD), today reported financial results for the three month period ended March 31, 2025.
Key operating highlights and financial performance for the first quarter 2025, when compared to the first quarter 2024, include:
-- Revenue decreased 3.0% to EUR760 million
-- Organic revenue declined 3.6% with a volume decline of 3.7%
-- Gross margin expanded 90 bps, helping to fund a double digit increase in
A&P
-- Adjusted EBITDA decreased 1.8% to EUR120 million
-- Adjusted EPS decreased 5.4% to EUR0.35
Management Comments
Stéfan Descheemaeker, Nomad Foods' Chief Executive Officer, stated, "Our team continued to execute well against our strategic priorities in the first quarter. Our organization delivered another quarter of strong gross margin improvement while continuing to scale our Growth Platforms, strengthen our innovation pipeline and reinvest in our leading brands. We saw slightly positive in-market consumption growth in the first quarter, but faced larger than expected retailer inventory destocking which, when combined with Easter timing, caused our net sales growth to meaningfully lag our retail sell-out. We expect top-line growth to accelerate throughout the remainder of the year, but do not expect to recover the larger than expected destocking related losses incurred in the first quarter. We have tempered our full year revenue expectations as a result. And although we see no direct impact from tariffs at this point in time, the macro environment has become increasingly uncertain and we foresee further increases in some input costs. These dynamics, in combination with the destocking impact in the first quarter, have caused us to lower our full year Adjusted EBITDA expectations while widening our Adjusted EPS guidance range."
Noam Gottesman, Nomad Foods' Co-Chairman and Founder, commented, "Nomad Foods has spent the last two years strengthening its overall organization, scaling its innovation pipeline and bolstering both the quantity and quality of its advertising investment while leveraging its strong cash flow to fortify its balance sheet and return cash to shareholders. Quarterly results can be choppy but the Frozen Food category in Europe is healthy, Nomad Food's leading brands are strong and its portfolio remains well positioned for evolving consumer trends. We remain confident in the company's growth potential and believe results for the remainder of 2025 will reflect this."
First Quarter of 2025 results compared to the First Quarter of 2024
-- Revenue decreased 3.0% to EUR760 million. Organic revenue decreased by
3.6% and was driven by a volume decline of 3.7% and a sequential
improvement in price/mix of +0.1%. Organic sales lagged retail measured
sell-through due to retailer inventory destocking and the later timing of
Easter this year.
-- Gross profit increased 0.3% to EUR212 million. Gross margin increased 90
basis points to 27.8% due to supply chain productivity and the lapping of
inventory revaluation headwinds in the prior year.
-- Adjusted operating expenses increased 3.4% to EUR116 million due to a
double-digit increase and Advertising and Promotion expense. Overhead
costs modestly contracted as productivity efforts began to generate
returns that more than offset underlying inflation.
-- Adjusted EBITDA decreased 1.8% to EUR120 million due to the
aforementioned factors and Adjusted Profit after tax decreased 12% to
EUR54 million.
-- Adjusted EPS decreased by EUR0.02 to EUR0.35 reflecting the decrease in
Adjusted Profit after tax and fewer shares outstanding. Diluted EPS
remained unchanged at EUR0.21.
2025 Guidance
The confluence of greater than expected retailer inventory destocking, higher input cost inflation, macro uncertainty and the prioritization of continued reinvestment in its brands and products has caused Nomad Foods to lower its full year revenue and Adjusted EBITDA outlook while widening its Adjusted EPS guidance range at the low-end. For the full year 2025, Nomad Foods now expects organic revenue growth of 0%-2%, versus 1%-3% growth prior, Adjusted EBITDA growth of 0%-2%, versus 2%-4% growth prior and Adjusted EPS of EUR1.82-EUR1.89, implying growth of 2-6%, versus its prior Adjusted EPS range of EUR1.85-EUR1.89, as the benefit of a lower share count partially offsets the lower Adjusted EBITDA outlook. Based on USD/EUR exchange rate as of May 2, 2025, this translates into 2025 Adjusted EPS of $2.07-$2.15. The Company is also maintaining its full year adjusted free cash flow conversion guidance to 90% or greater.
Conference Call and Webcast
The Company will host a conference call with members of the executive management team to discuss these results today, Thursday, May 8, 2025 at 1:30 p.m. BST (8:30 a.m. Eastern Daylight Time). To participate on the live call listeners in North America may dial +1-844-676-5834 and international listeners may dial +1-412-634-6811. Additionally, there will be a presentation to accompany the conference call and the call is being webcast. Both can be accessed at the Nomad Foods website at www.nomadfoods.com under Investor Relations. A replay of the conference call will be available on the Company website for two weeks following the event and can be accessed by listeners in North America by dialing +1-844-512-2921 and by international listeners by dialing +1-412-317-6671; the replay pin number is 10198025.
Enquiries
Investor Relations Contact
Jason English
investorrelations@nomadfoods.com
Media Contact
Oliver Thomas, Head of Corporate Affairs
Oliver.Thomas@nomadfoods.com
About Nomad Foods
Nomad Foods (NYSE: NOMD) is Europe's leading frozen food company. The Company's portfolio of iconic brands, which includes Birds Eye, Findus, iglo, Ledo and Frikom, have been a part of consumers' meals for generations, standing for great tasting food that is convenient, high quality and nutritious. Nomad Foods is headquartered in the United Kingdom. Additional information may be found at www.nomadfoods.com.
Non-IFRS Financial Information
Nomad Foods is presenting Adjusted and Organic financial information, which is considered non-IFRS financial information, for the three months ended March 31, 2025 and for comparative purposes, the three months ended March 31, 2024.
Adjusted financial information for the three months ended March 31, 2025 and 2024 presented in this press release reflects the historical reported financial statements of Nomad Foods, adjusted primarily for, when they occur, share based payment expenses and related employer payroll taxes, non-operating M&A related costs, acquisition purchase price adjustments, exceptional items and foreign currency translation charges/gains.
Adjusted EBITDA is profit or loss for the period before taxation, net financing costs, depreciation and amortization, adjusted to exclude, when they occur, the impacts of exited markets, acquisition purchase price adjustments and exceptional items such as restructuring charges, goodwill and intangible asset impairment charges and other unusual or non-recurring items. In addition, we exclude other adjustments such as the impact of share based payment expenses and related employer payroll taxes, and non-operating M&A related costs, because we do not believe they are indicative of our normal operating costs, can vary significantly in amount and frequency, and are unrelated to our underlying operating performance. The Company believes Adjusted EBITDA provides important comparability of underlying operating results, allowing investors and management to assess operating performance on a consistent basis.
Adjusted EBITDA should not be considered as an alternative to profit/(loss) for the period, determined in accordance with IFRS, as an indicator of the Company's operating performance.
Adjusted Profit for the period is defined as profit for the period excluding, when they occur, the impacts of exited markets, acquisition purchase price adjustments and exceptional items such as restructuring charges, goodwill and intangible asset impairment charges, net financing income/(cost) on amendment of terms of debt, interest cost on tax relating to legacy tax audits, foreign exchange translation gains/(losses), foreign exchange gains/(losses) on derivatives, as well as certain other items considered unusual or non-recurring in nature. In addition, we exclude other adjustments such as the impact of share based payment expenses and related employer payroll taxes, and non-operating M&A related costs, because we do not believe they are indicative of our normal operating costs, can vary significantly in amount and frequency, and are unrelated to our underlying operating performance. The Company believes Adjusted Profit after tax provides important comparability of underlying operating results, allowing investors and management to assess operating performance on a consistent basis.
Adjusted EPS is defined as diluted earnings per share excluding, when they occur, the impacts of exited markets, acquisition purchase price adjustments and exceptional items such as restructuring charges, goodwill and intangible asset impairment charges, net financing income/(cost) on amendment of terms of debt, interest cost on tax relating to legacy tax audits, foreign exchange translation gains/(losses), foreign exchange gains/(losses) on derivatives, as well as certain other items considered unusual or non-recurring in nature. In addition, we exclude other adjustments such as the impact of share based payment expenses and related employer payroll taxes, and non-operating M&A related costs, because we do not believe they are indicative of our normal operating costs, can vary significantly in amount and frequency, and are unrelated to our underlying operating performance. The Company believes Adjusted EPS provides important comparability of underlying operating results, allowing investors and management to assess operating performance on a consistent basis.
Organic revenue growth/(decline) is an adjusted measurement of our operating results. The comparison for the three months ended March 31, 2025 and 2024 presented in this press release takes into consideration only those activities that were in effect during both time periods. Organic revenue growth/(decline) reflects reported revenue adjusted for currency translation and non-comparable trading items such as expansion, acquisitions, disposals, closures, trading day impacts or any other event that artificially impacts the comparability of our results period over period.
Adjustments for currency translation are calculated by translating data of the current and comparative periods using a budget foreign exchange rate that is set once a year as part of the Company's internal annual forecast process.
Adjusted Free Cash Flow -- Adjusted free cash flow is the amount of cash generated from operating activities less cash flows related to exceptional items (as described above), non-operating M&A related costs and working capital movements on employer taxes associated with share based payment awards, plus capital expenditure (on property, plant and equipment and intangible assets), net interest paid, proceeds/(payments) on settlement of derivatives where hedge accounting is not applied and payments of lease liabilities. Adjusted free cash flow reflects cash flows that could be used for payment of dividends, repayment of debt or to fund acquisitions or other strategic objectives.
Cash flow conversion is Adjusted Free Cash Flow as a percentage of Adjusted Profit for the period.
Adjusted and Organic non-IFRS financial information should be read in conjunction with the unaudited financial statements of Nomad Foods included in this press release as well as the historical financial statements of the Company previously filed with the SEC.
Nomad Foods believe its non-IFRS financial measures provide an important additional measure with which to monitor and evaluate the Company's ongoing financial results, as well as to reflect its acquisitions. Nomad Foods' calculation of these financial measures may be different from the calculations used by other companies and comparability may therefore be limited. The Adjusted and Organic financial information presented herein is based upon certain assumptions that Nomad Foods believes to be reasonable and is presented for informational purposes only and is not necessarily indicative of any anticipated financial position or future results of operations that the Company will experience. You should not consider the Company's non-IFRS financial measures an alternative or substitute for the Company's reported results and are cautioned not to place undue reliance on these results and information as they may not be representative of our actual or future results as a Company.
Please see on pages 7 to 10, the non-IFRS reconciliation tables attached hereto and the schedules accompanying this release for an explanation and reconciliation of the Adjusted and Organic financial information to the most directly comparable IFRS measure. The Company is unable to reconcile, without unreasonable efforts, Organic Growth, Adjusted EBITDA and Adjusted EPS guidance to the most directly comparable IFRS measure.
Nomad Foods Limited As Reported
Statements of Profit or Loss (unaudited)
Three months ended March 31, 2025 and March 31, 2024
Three months ended Three months ended
March 31, 2025 March 31, 2024
EURm EURm
------------------ ------------------
Revenue 760.1 783.7
Cost of sales (548.5) (572.8)
------------------ ------------------
Gross profit 211.6 210.9
Other operating expenses (120.7) (115.4)
Exceptional items (17.1) (23.5)
------------------ ------------------
Operating profit 73.8 72.0
Finance income 1.5 5.9
Finance costs (35.6) (36.0)
------------------ ------------------
Net financing costs (34.1) (30.1)
------------------ ------------------
Profit before tax 39.7 41.9
Taxation (7.0) (7.4)
------------------ ------------------
Profit for the period 32.7 34.5
================== ==================
Basic and diluted earnings per share
in EUR 0.21 0.21
Nomad Foods Limited As Reported
Condensed Consolidated Interim Statements of Financial Position
As at March 31, 2025 (unaudited) and December 31, 2024 (audited)
As at March 31, 2025 As at December 31, 2024
EURm EURm
-------------------- -----------------------
Non-current assets
Goodwill 2,104.8 2,106.1
Intangible assets 2,472.3 2,472.9
Property, plant and equipment 584.5 591.1
Other non-current assets 7.9 8.6
Derivative financial
instruments 0.4 4.3
Deferred tax assets 11.3 14.7
-------------------- -----------------------
Total non-current assets 5,181.2 5,197.7
-------------------- -----------------------
Current assets
Cash and cash equivalents 329.8 403.3
Inventories 462.5 441.5
Trade and other receivables 387.6 334.6
Current tax receivable 36.0 37.6
Derivative financial
instruments 3.6 16.9
-------------------- -----------------------
Total current assets 1,219.5 1,233.9
-------------------- -----------------------
Total assets 6,400.7 6,431.6
-------------------- -----------------------
Current liabilities
Trade and other payables 856.6 829.1
Current tax payable 221.4 226.7
Provisions 28.4 27.1
Loans and borrowings 27.5 26.0
Derivative financial
instruments 14.3 14.4
-------------------- -----------------------
Total current liabilities 1,148.2 1,123.3
-------------------- -----------------------
Non-current liabilities
Loans and borrowings 2,123.8 2,151.4
Employee benefits 146.5 152.1
Other non-current liabilities 0.5 0.5
Provisions 2.6 2.7
Derivative financial
instruments 76.0 46.4
Deferred tax liabilities 288.8 292.7
-------------------- -----------------------
Total non-current liabilities 2,638.2 2,645.8
-------------------- -----------------------
Total liabilities 3,786.4 3,769.1
-------------------- -----------------------
Net assets 2,614.3 2,662.5
==================== =======================
Equity attributable to equity
holders
Share capital and capital
reserve 1,268.5 1,316.4
Share-based compensation
reserve 25.6 26.2
Translation reserve 133.3 135.3
Other reserves (26.1) (14.9)
Retained earnings 1,213.0 1,199.5
-------------------- -----------------------
Total equity 2,614.3 2,662.5
==================== =======================
Nomad Foods Limited As Reported Condensed Consolidated Interim Statements of
Cash Flows (unaudited) For the three months ended March 31, 2025 and the
three months ended March 31, 2024
For the three months For the three months
ended March 31, 2025 ended March 31, 2024
EURm EURm
--------------------- ---------------------
Cash flows from operating
activities
Profit for the period 32.7 34.5
Adjustments for:
Exceptional items 17.1 23.5
Share based payment expense 3.6 3.1
Depreciation and
amortization 24.0 23.1
Loss on disposal of
property, plant and
equipment 0.3 0.4
Net finance costs 34.1 30.1
Other operating cash flow
adjustments 0.5 --
Taxation 7.0 7.4
--------------------- ---------------------
Operating cash flow before
changes in working capital,
provisions and exceptional
items 119.3 122.1
(Increase)/decrease in
inventories (23.4) 14.2
Increase in trade and other
receivables (51.9) (81.3)
Increase in trade and other
payables 32.3 77.1
Increase/(decrease) in
employee benefits and
other provisions 0.6 (0.2)
--------------------- ---------------------
Cash generated from operations
before tax and exceptional
items 76.9 131.9
Payments relating to
exceptional items (14.4) (24.0)
Tax paid (11.9) (8.9)
--------------------- ---------------------
Net cash generated from
operating activities 50.6 99.0
--------------------- ---------------------
Cash flows from investing
activities
Purchase of property, plant
and equipment and
intangibles (18.7) (18.8)
Interest received 1.2 2.0
Net cash used in investing
activities (17.5) (16.8)
--------------------- ---------------------
Cash flows from financing
activities
Repurchase of ordinary
shares (48.9) (7.1)
Payment of lease
liabilities (8.2) (7.2)
Dividends paid (25.3) (22.3)
Payment of financing fees -- (0.5)
Interest paid (28.1) (50.4)
Net cash used in financing
activities (110.5) (87.5)
--------------------- ---------------------
Net decrease in cash and cash
equivalents (77.4) (5.3)
--------------------- ---------------------
Cash and cash equivalents at
beginning of period 403.3 399.7
Effect of exchange rate
fluctuations 3.9 (3.7)
--------------------- ---------------------
Cash and cash equivalents at
end of period 329.8 390.7
===================== =====================
Nomad Foods Limited
Reconciliation of Non-IFRS Financial Measures
(In EUR millions, except per share data)
The following table reconciles adjusted financial information for the three months ended March 31, 2025 to the reported results of Nomad Foods for such period.
Adjusted Statement of Profit or Loss (unaudited)
Three Months Ended March 31, 2025
As reported for As adjusted for
EUR in the three months the three months
millions, except ended March 31, ended March 31,
per share data 2025 Adjustments 2025
---------------- ----------- -----------------
Revenue 760.1 -- 760.1
Cost of sales (548.5) -- (548.5)
---------------- ----------- -----------------
Gross profit 211.6 -- 211.6
Other operating
expenses (120.7) 5.2 (a) (115.5)
Exceptional items (17.1) 17.1 (b) --
---------------- ----------- -----------------
Operating profit 73.8 22.3 96.1
Finance income 1.5 -- 1.5
Finance costs (35.6) 4.6 (31.0)
---------------- ----------- -----------------
Net financing
costs (34.1) 4.6 (c) (29.5)
---------------- ----------- -----------------
Profit before tax 39.7 26.9 66.6
Taxation (7.0) (6.0) (d) (13.0)
---------------- ----------- -----------------
Profit for the
period 32.7 20.9 53.6
================ =========== =================
Weighted average
shares
outstanding in
millions -
basic 154.6 154.6
Basic earnings
per share 0.21 0.35
Weighted average
shares
outstanding in
millions -
diluted 154.8 154.8
Diluted earnings
per share 0.21 0.35
(a) Represents share based payment charge including employer payroll taxes of
EUR4.9 million and non-operating M&A transaction costs of EUR0.3
million.
(b) Represents exceptional items which management believes are non-recurring
and do not have a continuing impact. See Note 6, Exceptional items,
within 'Exhibit 99.2 - Condensed Consolidated Interim Financial
Statements' for a detailed list of exceptional items.
(c) Elimination of EUR4.6 million of foreign exchange translation losses.
(d) Represents tax impact of the above at the applicable tax rate for each
adjustment, determined by the nature of the item and the jurisdiction in
which it arises.
Nomad Foods Limited
Reconciliation of Non-IFRS Financial Measures (continued)
The following table reconciles adjusted financial information for the three months ended March 31, 2024 to the reported results of Nomad Foods for such period.
Adjusted Statement of Profit or Loss (unaudited)
Three Months Ended March 31, 2024
As reported for As adjusted for
EUR in the three months the three months
millions, except ended March 31, ended March 31,
per share data 2024 Adjustments 2024
---------------- ----------- -----------------
Revenue 783.7 -- 783.7
Cost of sales (572.8) -- (572.8)
---------------- ----------- -----------------
Gross profit 210.9 -- 210.9
Other operating
expenses (115.4) 3.7 (a) (111.7)
Exceptional items (23.5) 23.5 (b) --
---------------- ----------- -----------------
Operating profit 72.0 27.2 99.2
Finance income 5.9 (4.1) 1.8
Finance costs (36.0) 10.4 (25.6)
---------------- ----------- -----------------
Net financing
costs (30.1) 6.3 (c) (23.8)
---------------- ----------- -----------------
Profit before tax 41.9 33.5 75.4
Taxation (7.4) (7.4) (d) (14.8)
---------------- ----------- -----------------
Profit for the
period 34.5 26.1 60.6
================ =========== =================
Weighted average
shares
outstanding in
millions -
basic 163.2 163.2
Basic earnings
per share 0.21 0.37
Weighted average
shares
outstanding
in millions -
diluted 163.3 163.3
Diluted earnings
per share 0.21 0.37
(a) Represents share based payment charge including employer payroll taxes of
EUR3.4 million and non-operating M&A transaction costs of EUR0.3
million.
(b) Represents exceptional items which management believes are non-recurring
and do not have a continuing impact. See Note 6, Exceptional items,
within 'Exhibit 99.2 - Condensed Consolidated Interim Financial
Statements' for a detailed list of exceptional items.
(c) Elimination of EUR4.1 million of net gains on repricing of debt, EUR10.2
million of foreign exchange translation losses and EUR0.2 million of
foreign exchange losses on derivatives.
(d) Represents tax impact of the above at the applicable tax rate for each
adjustment, determined by the nature of the item and the jurisdiction in
which it arises.
Nomad Foods Limited
Reconciliation of Non-IFRS Financial Measures (continued)
The following table reconciles Adjusted EBITDA to the reported results of Nomad Foods for each period.
Adjusted EBITDA (unaudited)
Three months ended
------------------------------
EUR in millions March 31, 2025 March 31, 2024
-------------- --------------
Profit for the period 32.7 34.5
Taxation 7.0 7.4
Net financing costs 34.1 30.1
Depreciation & amortization 24.0 23.1
Exceptional items (a) 17.1 23.5
Other add-backs (b) 5.2 3.7
-------------- --------------
Adjusted EBITDA 120.1 122.3
============== ==============
Revenue 760.1 783.7
-------------- --------------
Adjusted EBITDA margin (c) 15.8 % 15.6 %
============== ==============
(a) Adjustment to add back exceptional items. See Note 6, Exceptional items,
within 'Exhibit 99.2 - Condensed Consolidated Interim Financial
Statements' for a detailed list of exceptional items.
(b) Represents the elimination of share-based payment charges including
employer payroll taxes for the three month period to March 31, 2025 of
EUR4.9 million (2024: EUR3.4 million) as well as the elimination of
non-operating M&A transaction costs for the three month period to March
31, 2025 of EUR0.3 million (2024: EUR0.3 million). We exclude these costs
because we do not believe they are indicative of our normal operating
costs, can vary significantly in amount and frequency, and are unrelated
to our underlying operating performance.
(c) Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by
Revenue.
Nomad Foods Limited
Reconciliation of Non-IFRS Financial Measures (continued)
Reconciliation from reported to organic revenue growth/(decline)
The following table is a reconciliation of reported revenue growth to Organic Revenue Growth for the three month period ended March 31, 2025.
Year on Year Growth - March 31, 2025 compared with March 31, 2024:
Three months ended
March 31, 2025
YoY change
Reported Revenue Growth (3.0) %
Of which:
Organic Revenue Growth (3.6) %
Translational FX (a) 0.6 %
----------------------------
Total (3.0) %
(a) Translational FX is calculated by translating data of the current and
comparative periods using a budget foreign exchange rate that is set once
a year as part of the Company's internal annual forecast process.
Forward-Looking Statements
Forward-Looking Statements and Disclaimers
Certain statements in this announcement are forward-looking statements which are based on the Company's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts, including the Company's expectations regarding (i) its future operating and financial performance, including its 2025 guidance with respect to organic revenue growth, Adjusted EBITDA growth, adjusted free cash flow conversion, Adjusted EPS, and Adjusted EPS growth; (ii) top-line growth for the remainder of 2025 and ability to recover larger than expected losses in the first quarter, (iii) macro-economic factors, including the impact of tariffs, (iv)its ability to generate superior shareholder returns; (v) its cash generation, growth and success in 2025 and beyond; and (vi) its portfolio's ability to remain well positioned for consumer trends.
These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: (i) the Company's ability to effectively mitigate factors that negatively impact its supply of raw materials, including the conflict in Ukraine and climate-related factors beyond the Company's control; (ii) the Company's ability to successfully mitigate inflationary changes in the market; (iii) the Company's ability to successfully identify suitable acquisition targets and adequately evaluate the potential performance of such acquisition targets; (iv) the Company's ability to successfully implement its strategies (including its M&A strategy) and strategic initiatives and to recognize the anticipated benefits of such strategic initiatives; (v) innovations introduced to the markets and the Company's ability to accurately forecast the brands' performance; (vi) the Company's ability to effectively compete in its markets; (vii) changes in consumer preferences, such as meat substitutes, and the Company's failure to anticipate and respond to such changes or to successfully develop and renovate products; (viii) the effects of reputational damage from unsafe or poor quality food products; (ix) the risk that securities markets will react negatively to actions by the Company; (x) the adequacy of the Company's cash resources to achieve its anticipated growth agenda; (xi) increases in operating costs, including labor costs, and the Company's ability to manage its cost structure; (xii) fluctuations in the availability of food ingredients and packaging materials that the Company uses in its products; (xiii) the Company's ability to protect its brand names and trademarks; (xiv) the Company's ability to prevent, or remediate, any future cybersecurity incidents; (xv) loss of the Company's financial arrangements with respect to receivables factoring; (xvi) the loss of any of the Company's major customers or a decrease in demand for its products; (xvii) economic conditions that may affect the Company's future performance including exchange rate fluctuations; (xviii) the Company's ability to successfully interpret and respond to key industry trends and to realize the expected benefits of its responsive actions; (xix) the Company's failure to comply with, and liabilities related to, environmental, health and safety laws and regulations; (xx) changes in applicable laws or regulations; (xxi) the Company's ability to remediate any material weaknesses in its internal control over financial reporting; and (xxii) the other risks and uncertainties disclosed in the Company's public filings and any other public disclosures by the Company. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company does not undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
No Offer or Solicitation
This release and referenced conference call is provided for informational purposes only and does not constitute an offer to sell, or an invitation to subscribe for, purchase or exchange, any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance, exchange or transfer of the securities referred to in this press release in any jurisdiction in contravention of applicable law.
The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.
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SOURCE Nomad Foods Limited
(END) Dow Jones Newswires
May 08, 2025 06:45 ET (10:45 GMT)
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