Nomad Foods Limited 2026 Q2 Earnings Call
Review the key takeaways and the transcript of this earnings call.
- Nomad Foods experienced retail disruptions in the first half of 2020 that negatively impacted market share despite strong category growth.
- The frozen food category grew 3.4% in value and 1.6% in volume year to date, with recent three-month growth of 2.8% in value and 1.1% in volume.
- The company reported margin expansion in the quarter driven by pricing, with some one-time and phasing benefits expected to reverse later in the year.
- Nomad Foods is on track with its 200 million productivity program, which supports competitive pricing and has led to a slight decrease in the price index.
- The company suspended share buybacks to focus on deleveraging but continues to pay dividends.
- Recent pricing actions by private labels include increases of 20-32% in various countries, with Nomad Foods cautiously analyzing elasticity data.
- Water shortages have not had a direct impact on supplier demand or costs beyond normal levels, with inflation primarily driven by fish and protein costs.
- CEO Dominic Frisby highlighted the strong health of the category and brand equity, noting significant leadership changes to improve competitiveness.
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Transcript
Preview the first fifteen paragraphs, organized by speaker.
Ladies and gentlemen, greetings and welcome to the Nomad Foods second quarter 2026 Earnings Q&A session. At this time, all participants are in a listen-only mode. As a reminder, this conference is being recorded. I would now like to turn the call over to your host, Jason English, Head of Corporate Strategy and Investor Relations. Thank you. You may begin.
Thanks, Max. Hello, and welcome to Nomad Foods' second quarter 2026 earnings question and answer session. We've posted the associated press release, prepared remarks, and investor presentation on nomadfoods.com. I hope you all have had a chance to review them. I'm Jason English, Head of Investor Relations and Corporate Strategy, and I'm joined by Dominic Brisby, our CEO, and Ruben Baldew, our CFO. During this call, we will make forward-looking statements about performance that are based on our view of the company's prospects, expectations, and intentions at this time. Actual results may differ due to risks and uncertainties which are discussed in our press release, our filings with the SEC, and our investor presentation, which includes cautionary language. We will also discuss non-IFRS financial measures during the call today.
These non-IFRS financial measures should not be considered a replacement for and should be read together with IFRS results. Users can find the IFRS to non-IFRS reconciliations within our earnings release and in the appendices at the end of the slide presentation available on our website. Please note that certain financial information within this presentation represents adjusted figures. All adjusted figures have been adjusted primarily for, when applicable, share-based payment expenses, related employer payroll taxes, exceptional items, foreign currency translation charges or gains, and hedge ineffectiveness. Unless otherwise noted, comments from here will refer to those adjusted numbers. With that, Max, let's open the line to questions.
Thank you. We will now be conducting a question and answer session. We ask that you please limit yourself to one question and one follow-up.
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9 people spoke on this call — only 1 are shown here.
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