Nomad Foods on July 20 announced that it expects reported organic revenue to decline by 2.5-3.5% for the second quarter of this year. The Woking, England-headquartered frozen food company figures that Adjusted EBITDA will be in the range of €120-€126 million and closing cash and cash equivalents balance of approximately €273 million for the three-month period ended June 30, 2026.
The company also reiterated its full year organic revenue, Adjusted EBITDA and Adjusted Free Cash Flow conversion guidance. For the full year ending December 31, 2026, it continues to expect organic revenue to decline by 2%-5%, Adjusted EBITDA to fall by 5%-10% and Adjusted Free Cash Flow Conversion of 90%+.
“We are pleased to report that second quarter results are projected to be ahead of the expectations we communicated last quarter and we remain confident in our ability to deliver on the full-year organic sales and Adjusted EBITDA guidance,” said CEO Dominic Brisby. “The growth of our category remains robust and we have seen the successful implementation of our previously announced price increases contributing to a year-on-year increase in gross margin for the quarter. We look forward to sharing more details when we report second quarter 2026 results in August.”
“Our plans to strengthen our fundamental foundation are working, our cash flow is robust, and our balance sheet is strong,” added CFO Ruben Baldew. “Given this and the current market conditions, we believe now is the right time to proactively explore the refinancing of our indebtedness. This may increase our interest expense, but we intend to take certain actions to reduce that impact over time, primarily by reducing our net debt.”
Nomad Foods is Europe’s largest branded frozen food company, offering products including a wide range of ready meals, fish fingers, chicken grills, vegetables, pizza, meat-free specialties and ice cream across 22 markets. Among its household name labels are Birds Eye, Findus, iglo, Ledo and Frikom, Goodfella’s and Aunt Bessie’s.
