Medium-Term Goals and Efficiency Targets
Nomad Foods reiterated its commitment to a EUR 200 million multiyear efficiency target and the goal to compound EBITDA in low single digits. These targets are supported by the entire Board and are in progress.
Positive Sell-Out and Distribution Increases
Despite challenges, the sell-out year-to-date is up by 0.2%, with a recent three-month increase in value by 0.5% and volume by 0.7%. Additionally, distribution increases are being observed in Italy and France.
Capital Allocation and Share Repurchase
Emphasis on capital allocation with a focus on share repurchases due to undervaluation in the equity market. An extra $150 million from recent refinancing will aid in buybacks.