Nomad Foods Limited reported strong financial results for both the fourth quarter and full year of 2024, underscoring a year of accelerated organic sales growth, improved margins, and market share gains.
The company’s performance was fueled by higher volumes and a continued focus on operational efficiency. Maintaining its commitment to shareholder returns, Nomad distributed EUR208m through dividends and share repurchases over the course of the year. Looking ahead, management expects sustained momentum in 2025, forecasting continued top- and bottom-line growth.
Reflecting confidence in its financial position, the company’s board approved a 13% increase to the first-quarter 2025 cash dividend.
For the fourth quarter, revenue rose 4.3% to EUR793m, with organic revenue growth of 3.1% and a 4.7% increase in volume. Full-year 2024 results showed revenue increasing 1.8% to EUR3.1bn, with organic growth of 1.0% and a 1.3% rise in volume.
Looking ahead to 2025, Nomad Foods expects organic revenue growth of 1% to 3% and Adjusted EBITDA growth of 2% to 4%, while ramping up investments in its products and brands.
Nomad Foods CEO Stéfan Descheemaeker highlighted the company’s sustained growth trajectory, stating, “Our 2024 results demonstrate the impact of our focused brand investments and operational excellence, marking our ninth consecutive year of sales and Adjusted EBITDA growth. The investments we began to make in 2023 took hold and delivered strong returns in 2024, as evidenced by our accelerating volume momentum through the final three quarters and market share gains in each of the last two quarters of the year. Growth can be choppy month-to-month and quarter-to-quarter but the underlying trendline of improvement is evident in our results.”
“We significantly strengthened our innovation engine, increasing our innovation as a percent of sales year-over-year, while executing more impactful merchandising programs that resonated with consumers at point-of-sale. Importantly, we accomplished this while expanding margins through a combination of supply chain productivity initiatives and focused growth investments that yielded healthy mix gains. The strength of our execution this year reflects the dedication of our teams and the power of our brands. As we enter 2025, we’re confident in our proven strategy and capabilities to deliver what would be our 10th consecutive year of sales and Adjusted EBITDA growth.”
With a decade of uninterrupted earnings expansion on the horizon, Nomad Foods continues to position itself as a leader in the frozen foods market, balancing disciplined financial management with strategic investments in brand development and operational efficiency.
Find out more at: https://www.nomadfoods.com