Nomad Foods Limited (NYSE: NOMD) reported Q4 EPS of EUR0.29, versus EUR0.27 reported last year. Revenue for the quarter came in at EUR615 million, versus EUR508.2 million reported last year.

• Reported revenue increased 21% to €615 million
• Organic revenue growth of 4.2%
• Reported profit for the period of €41 million
• Adjusted EBITDA increased 23% to €101 million
• Reported EPS of €0.23; Adjusted EPS increased 7% to €0.29

Key operating highlights and financial performance for the full year 2018, when compared to the full year 2017, include:

• Reported revenue increased 11% to €2,173 million
• Organic revenue growth of 2.6%
• Reported profit for the period of €171 million
• Adjusted EBITDA increased 15% to €376 million
• Reported EPS of €0.97; Adjusted EPS increased 19% to €1.19

Stéfan Descheemaeker, Nomad Foods’ Chief Executive Officer, stated, “We delivered a solid end to 2018, with fourth quarter and full year results exceeding our prior guidance. Performance during both periods reflected broad based geographic growth, continued leadership within our core categories and strong customer acceptance of our new product offerings. We are pleased with our progress integrating Aunt Bessie’s and Goodfella’s which have outperformed their plans since being acquired in the middle of 2018. Finally, we generated significant cash flow during the fourth quarter and the year which will further enable our growth ambitions for 2019 and beyond.”

Noam Gottesman, Nomad Foods’ Co-Chairman and Founder, commented, “Our 2018 financial results mark another year of organic growth for Nomad Foods which demonstrates the sustainability of our growth model, the power of our brands, and the quality and determination of our people. We have an exciting set of plans for 2019, and we look forward to building shareholder value through sustainable growth, cash flow generation and accretive capital deployment.”

GUIDANCE:

Nomad Foods Limited sees FY2019 EPS of EUR1.28-EUR1.32.

The Company is initiating 2019 guidance, which includes the anticipated impact of IFRS 16. Full year 2019 Adjusted EBITDA is expected to be approximately €420 to €430 million, inclusive of approximately €15 million of anticipated benefit related to IFRS 16. This equates to expected 2019 Adjusted EBITDA growth of approximately 8-10% before the effect of IFRS 16.

Adjusted EPS is expected to be in the range of approximately €1.28 to €1.32, inclusive of approximately €0.02 of anticipated dilution related to IFRS 16. Full year guidance assumes organic revenue growth at a low-single digits percentage rate.

For earnings history and earnings-related data on Nomad Foods Limited (NOMD) click here.