Nomad Foods Limited (NYSE:NOMD) Q2 2022 Earnings Conference Call August 10, 2022 8:30 AM ET
Company Participants
Anthony Bucalo - Head of Investor Relations
Stefan Descheemaeker - Chief Executive Officer
Samy Zekhout - Chief Financial Officer
Conference Call Participants
Andrew Lazar - Barclays
Jason English - Goldman Sachs
Rob Moskow - Credit Suisse
Steve Powers - Deutsche Bank
John Baumgartner - Mizuho
Cody Ross - UBS
JM Shekian - Citi
Operator
Good day and welcome to the Nomad Foods Second Quarter 2022 Earnings Call. [Operator Instructions] Please note that this event is being recorded.
I would now like to turn the conference over to Anthony Bucalo, Head of Investor Relations. Please go ahead.
Anthony Bucalo
Hello and welcome to the Nomad Foods Second Quarter 2022 Earnings Call. I am Anthony Bucalo, Head of Investor Relations and I am joined on the call by Stefan Descheemaeker, our CEO; and Samy Zekhout, our Chief Financial Officer.
Before we begin, I would like to draw your attention to the disclaimer on Slide 2 of our presentation. This conference call may include forward-looking statements that are based on our view of the company's prospects, expectations and attentions at this time. Actual results may differ due to risks and uncertainties which are discussed in our press release, our filings with the SEC and this slide in our investor presentation which includes cautionary language. We will also discuss non-IFRS financial measures during the call today. These non-IFRS financial measures should not be considered a replacement for and should be read together with our IFRS results. You just can find the IFRS to non-IFRS reconciliations within our earnings release and in the appendices at the end of the slide presentation available on our website.
Please note that certain financial information within this presentation represent adjusted figures for 2021 and 2022. All adjusted figures have been adjusted for exceptional items, acquisition related, share based payment and related expenses as well. As non-cash FX gains or losses. Unless otherwise noted, all comments from here on will refer to those adjusted numbers.
With that, I will hand you over to Stefan.
Stefan Descheemaeker
Thank you, Tony. Good afternoon everyone and thank you for joining us on the call today. We're pleased to review our results for the quarter. We performed well in Q2, despite difficult macro conditions across Europe. We began the year already addressing on inflationary requirements. And we adopted quickly to meet additional challenges brought down by Ukraine war both inflationary and otherwise. We are encouraged by the resilience of a bunch of people of consumers and our customers. Our revenues grew 17%, while organic sales trends improve sequentially from Q1. Our value share we're stable, while we pass price increase to mitigate cost inflation. Our supply chain provided excellent service to our customers with fill rates improving materially in the half year.