Nomad Foods Reports Q4 Revenues of €773M, Launches €200M Cost-Cutting Plan
Nomad Foods’ Q4 net revenues fell 2.6% to €773 million while adjusted EBITDA dropped 4.7% to €131 million and adjusted EPS rose 2% to €0.43 due to a 9% share count reduction. CEO Brisby unveiled a €200 million cost removal program and guided 2026 organic revenue down 2–5%.
1. Q4 and Full-Year 2025 Results
Nomad Foods reported Q4 net revenues of €773 million, down 2.6% year-over-year, driven by a 1.1% volume decline and 0.2% negative price/mix. Adjusted EBITDA fell 4.7% to €131 million and adjusted EPS rose 2% to €0.43 due to a 9% reduction in diluted shares; full-year organic sales dipped 1.9% and adjusted EBITDA declined 7.5% within guidance.
2. Strategic Repositioning and Cost Program
CEO Dominic Brisby described 2026 as a pivotal year of strategic repositioning and initiated an efficiency program targeting €200 million of cost removal over three years. Management emphasized operational fixes, improved productivity and revenue growth management benefits to offset inflation and support margin recovery.
3. 2026 Guidance and Outlook
The company issued guidance calling for 2026 organic revenue down 2–5%, constant-currency adjusted EBITDA down 5–10% and adjusted EPS of €1.45–1.60, with Q1 expected as the low point due to pricing negotiations and retailer disruption.
4. Capital Returns and Cash Flow
Nomad returned €195.6 million to shareholders in 2025, including €44.2 million of Q4 buybacks, reducing shares outstanding by 9%. Adjusted free cash flow conversion reached 73%, and recent debt refinancing is expected to enhance EPS flexibility and improve working capital management.