Nomad Foods sets €200 million efficiency target through 2028

Nomad Foods Limited (NYSE: NOMD) announced an efficiency program designed to generate €200 million in operational savings from fiscal 2026 to 2028, according to a company statement released ahead of the Barclays Global Consumer Staples Conference.

The frozen food company reiterated its 2025 guidance, expecting full-year organic revenue to decline by flat to 2% year-over-year, adjusted EBITDA to fall 3% to 7% year-over-year, and adjusted earnings per share between €1.64 and €1.76. The company maintained its fiscal 2025 adjusted free cash flow conversion guidance of 90% or greater.

The efficiency program will focus on procurement transformation, manufacturing network utilization improvements, logistics cost reductions, and overhead efficiencies. Nomad Foods stated the savings will fund targeted reinvestments, mitigate inflation, and support adjusted EBITDA growth objectives.

The company established medium-term targets for 2026 to 2028, including compound annual adjusted EBITDA growth of 1% to 3% and free cash flow growth of approximately 15% compared to the 2023-2025 period. The free cash flow improvement is expected to result from lower exceptional cash expenses, working capital management, and EBITDA growth.

Nomad Foods plans to launch a new multimedia campaign for its Birds Eye brand in the UK and Ireland, with expansion across Europe planned for 2026. The company will introduce new products including protein meal bowls, McDonald's Veggie Nuggets in the Nordic region, and various chicken products across European markets.

"While we have faced challenges in 2025, we are proud to have successfully stabilized market share," said CEO Stéfan Descheemaeker in the statement.

The company's presentation was scheduled for 3:45 p.m. EST on September 3.

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