Nomad Foods (NOMD) Q3 2025 Prepared Remarks earnings summary

Executive summary

• Q3 2025 revenue declined 2.2% to €752 million, with organic sales down 1.6% due to volume and price/mix declines, unfavorable weather, and U.K. underperformance.

• Adjusted EBITDA fell 14% to €143 million and adjusted EPS dropped 11% to €0.49.

• Leadership transition announced: Dominic Brisby named CEO-elect, effective January 1, 2026.

• Management expects full-year 2025 results near the low end of guidance, citing efficiency and innovation initiatives.

• Company remains optimistic about future growth, supported by strong brands, category tailwinds, and ongoing innovation.

Financial highlights

• Q3 2025 net revenues were €752 million, down 2.2% year-over-year.

• Adjusted EBITDA declined 14% to €143 million; adjusted EPS fell 11% to €0.49.

• Adjusted gross margin contracted by 420 basis points to 28.1%.

• Adjusted free cash flow for the first nine months was €66 million, down from €105 million the prior year; conversion ratio was 35%, down from 47%.

• Adjusted operating expenses in Q3 2025 decreased 11.9% to €94 million.

Outlook and guidance

• Full-year 2025 organic revenue expected near the low end of flat to -2% range.

• Adjusted EBITDA and adjusted EPS also expected near the low end of guidance; adjusted EPS range of €1.64–€1.76.

• Adjusted free cash flow conversion ratio expected to be 90% or greater for the full year.