Nomad Foods faces volume decline as second quarter revenue dips

The Woking-based company, which owns brands including Birds Eye and Findus, saw its profit for the period fall 15% to €49 million. Chief Executive Officer Dominic Brisby pointed to a challenging retail environment, though he highlighted that price increases and supply chain productivity helped stabilize core margins. The company’s adjusted EBITDA reached €124 million, a 4.3% decrease compared to the same period last year, largely attributed to the restructuring of employee performance incentive schemes.

Looking ahead, management maintained its full-year guidance, expecting organic revenue to decline by 2% to 5%. However, the company lowered its outlook for adjusted earnings per share to a range of €1.38 to €1.53, citing increased interest expenses following recent refinancing activities. Despite these headwinds, the board emphasized its commitment to long-term value creation through innovation and operational efficiency, remaining confident in the frozen food category's enduring appeal.