Market Share Gains
Despite challenging conditions, Nomad Foods regained market share in volume, particularly in Western Europe, indicating strong competitive positioning.
Innovation and Renovation Initiatives
Nomad Foods reported that around 10% of sales were from innovation and renovation in 2024, and this is expected to nearly double. Initiatives include new products in chicken, fish, and snacking categories, with a focus on expansion in the frozen food sector.
SG&A Savings and Cost Competitiveness
The company achieved reductions in SG&A through targeted overhead expense cuts and synergies. This initiative supports their focus on cost competitiveness while maintaining pricing power.
Future Food Lab and Innovation Partnerships
Nomad Foods is exploring partnerships with startups through its Future Food Lab to drive innovation, particularly in food service and other new product areas.