Nomad Foods reports Q2 EPS EUR 0.40 vs. EUR 0.40 last year

Reports Q2 revenue EUR 745.1M vs. EUR 697M last year. Stefan Descheemaeker, Nomad Foods’ CEO, stated, “Nomad Foods maintained sales momentum from the first quarter of the year into the second quarter. We grew organic sales by 8.6% and Adjusted EBITDA by 4.5% year-on-year, while keeping our Gross Margin stable. Furthermore, we completed our preparations and planning to kick off a comprehensive A&P investment plan next quarter, and we expect to see visible improvement in our volume and market share performance in the second half of the year. Building on this strong first half performance, second quarter share buyback, and our improving expectations for the second half, we are raising our Adjusted EPS guidance range to EUR 1.54 to EUR 1.57 from our previous range of EUR 1.52 to EUR 1.55. Furthermore, we maintain our guidance for Adjusted Free Cash Flow conversion in the range of 90% to 95% for 2023, generating approximately EUR 250 million of Adjusted Free Cash Flow.”