Nomad Foods 2025 EBITDA Drops 7.5% to €523 Million, 2026 Revenue Set to Decline
Nomad Foods posted 2025 revenue of €3.0 billion, down 2.2% year-on-year, with adjusted EBITDA falling 7.5% to €523 million and adjusted EPS sliding 6.7% to €1.66. It generated €331 million in operating cash flow, returned €287 million to shareholders and expects organic revenue to decline 2%-5% in 2026.
1. Full Year 2025 Results
Nomad Foods reported revenue of €3.0 billion for 2025, down 2.2% year-on-year, with organic sales declining 1.9% and volume down 1.4%. Gross margin contracted 250 basis points, adjusted EBITDA fell 7.5% to €523 million and adjusted EPS eased 6.7% to €1.66.
2. Fourth Quarter Highlights
In Q4, revenue declined 2.6% to €773 million and organic revenue eased 1.3% as volume slipped 1.1%. The company swung to a €11 million loss including €57 million of debt refinancing charges, while adjusted EBITDA fell 4.7% to €131 million and adjusted EPS rose 2.4% to €0.43.
3. Shareholder Returns and Cash Flow
Operating cash flow reached €331 million and adjusted free cash flow was €182 million, reflecting a 73% conversion rate. Nomad delivered €287 million to shareholders in 2025 via dividends and buybacks, a 38% increase year-on-year, and achieved multi-year COGS savings through its productivity program.
4. Outlook and Management Actions
Management views 2026 as a transition year, guiding for organic revenue decline of 2%-5%, adjusted EBITDA down 5%-10% and adjusted EPS of €1.45-€1.60. New CEO Dominic Brisby is enacting organizational changes, plans a sizable share purchase and aims to unlock value over the medium term.