Nomad Foods Limited (NYSE:NOMD) Q2 2024 Earnings Conference Call August 7, 2024 8:30 AM ET

Company Participants

Jason English - Interim Head of Investor Relations
Stéfan Descheemaeker - Chief Executive Officer
Ruben Baldew - Chief Financial Officer

Conference Call Participants

Andrew Lazar - Barclays
Rob Dickinson - Jefferies
John Baumgartner – Mizuho Securities
Steve Powers - Deutsche Bank
Jon Tanwanteng - CJS Securities
Peter Saleh - BTIG

Operator

Good day, ladies and gentlemen, and welcome to Nomad Foods' Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note that, this conference is being recorded.

I would now like to turn the conference over to Jason English. Please go ahead.

Jason English

Hello folks, and welcome to Nomad Foods' Second Quarter 2024 Earnings Call. I'm Jason English, Interim Head of Investor Relations, and I'm joined on the call by Stéfan Descheemaeker, our CEO; and Ruben Baldew, our CFO.

By now, everyone should have access to the earnings release for the period ending June 31, 2024, that was published at approximately 6:45 a.m. Eastern Time. The press release and investor presentation are available on Nomad Foods' website at nomadfoods.com. This call is being webcast, and a replay will be available on the company's website.

This conference call will include forward-looking statements that are based on our view of the company's prospects, expectations and intentions 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 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 IFRS results. Users 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 our presentation represents adjusted figures for 2023 and 2024. All adjusted figures have been adjusted primarily for share-based payment expenses and related employer payroll taxes, non-operating M&A-related costs, acquisition purchase price adjustments, exceptional items and foreign currency translation charges or gains. Unless otherwise noted, comments from here refer to those adjusted numbers.

With that, let me hand over to Stéfan.

Stéfan Descheemaeker

Thank you, Jason. Nomad Foods delivered another quarter of solid top and bottom line performance. I'm pleased to report that the volume inflection we previously forecasted has come to fruition with volume growth of 1.6% this quarter. This is the first period of volume growth since quarter three 2021, but certainly not the last.