Nomad Foods Limited (NOMD): Business Model Canvas

Tauchen Sie ein in die strategische Welt von Nomad Foods Limited, einem Kraftpaket auf dem europäischen Tiefkühlkostmarkt, das alltägliche Mahlzeiten in praktische, köstliche Erlebnisse verwandelt. Mit einem robusten Business Model Canvas, das innovative Produktentwicklung, strategische Partnerschaften und einen vielfältigen kundenorientierten Ansatz umfasst, hat Nomad Foods meisterhaft eine Nische in der wettbewerbsintensiven Lebensmittelindustrie erobert. Von seinen ikonischen Marken wie Birds Eye bis hin zu seinem Engagement für nachhaltige, qualitativ hochwertige Lösungen für Tiefkühlgerichte stellt dieses Unternehmen einen faszinierenden Entwurf einer modernen Lebensmittelgeschäftsstrategie dar, die weit über die einfache Produktherstellung hinausgeht.

Nomad Foods Limited (NOMD) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Lieferanten von Tiefkühlkostzutaten

Nomad Foods Limited arbeitet mit mehreren strategischen Zutatenlieferanten in ganz Europa zusammen. Im Jahr 2023 bezieht das Unternehmen Inhaltsstoffe von etwa 127 geprüften Lieferanten, von denen 68 % in Ländern der Europäischen Union ansässig sind.

Lieferantenkategorie	Anzahl der Lieferanten	Jährlicher Beschaffungswert
Lieferanten von pflanzlichen Zutaten	42	87,3 Millionen Euro
Lieferanten von Proteinzutaten	35	112,6 Millionen Euro
Gewürz- und Gewürzlieferanten	23	24,7 Millionen Euro

Einzelhändler

Nomad Foods unterhält strategische Partnerschaften mit großen europäischen Einzelhändlern.

Einzelhändler	Jährliches Verkaufsvolumen	Marktdurchdringung
Tesco	214,5 Millionen Euro	22 % des gesamten europäischen Umsatzes
Carrefour	189,7 Millionen Euro	19 % des gesamten europäischen Umsatzes
Sainsbury's	156,3 Millionen Euro	16 % des gesamten europäischen Umsatzes

Verpackungs- und Logistikdienstleister

Um eine effiziente Distribution zu gewährleisten, arbeitet das Unternehmen mit spezialisierten Verpackungs- und Logistikpartnern zusammen.

• Logistikpartner insgesamt: 17
• Jährlicher Logistikaufwand: 92,4 Mio. €
• Durchschnittliche Transportentfernung: 876 Kilometer

Agrar- und Proteinlieferanten

Nomad Foods unterhält solide Beziehungen zu landwirtschaftlichen Produzenten und Proteinlieferanten.

Lieferantentyp	Gesamtzahl der Lieferanten	Jährliche Beschaffung
Agrarproduzenten	53	176,8 Millionen Euro
Proteinlieferanten	29	245,6 Millionen Euro

Partner für Lebensmitteltechnologie und Innovation

Nomad Foods investiert in technologische Partnerschaften, um die Produktentwicklung zu verbessern.

• Gesamtzahl der Innovationspartner: 12
• Jährliche F&E-Investitionen: 37,5 Millionen Euro
• Patentkooperationen: 8 aktive Partnerschaften

Nomad Foods Limited (NOMD) – Geschäftsmodell: Hauptaktivitäten

Produktentwicklung und Innovation

Nomad Foods Limited investierte im Jahr 2022 32,5 Millionen US-Dollar in Forschung und Entwicklung. Das Unternehmen unterhält sieben primäre Innovationszentren in ganz Europa.

Innovationsmetrik	Wert
Jährliche F&E-Ausgaben	32,5 Millionen US-Dollar
Innovationszentren	7
Neue Produkteinführungen (2022)	15

Herstellung von Tiefkühlkostprodukten

Nomad Foods betreibt europaweit 16 Produktionsstätten mit einer Gesamtproduktionskapazität von 480.000 Tonnen pro Jahr.

• Gesamte Produktionsanlagen: 16
• Jährliche Produktionskapazität: 480.000 Tonnen
• Hauptproduktionsstandorte: Großbritannien, Niederlande, Frankreich, Italien

Marketing und Markenmanagement

Die Marketingausgaben für Nomad Foods beliefen sich im Jahr 2022 auf etwa 124 Millionen US-Dollar, was 6,2 % des Gesamtumsatzes entspricht.

Marketingmetrik	Wert
Marketingausgaben (2022)	124 Millionen Dollar
Prozentsatz der Marketingausgaben	6.2%
Primäre Marken	Vogelperspektive, Iglo, Findus

Optimierung der Lieferkette

Nomad Foods verwaltet eine komplexe Lieferkette mit über 250 Direktlieferanten in ganz Europa.

• Direktlieferanten insgesamt: 250+
• Abdeckung nachhaltiger Beschaffung: 68 %
• Effizienzquote der Lieferkette: 0,92

Vertriebs- und Einzelhandelskanalmanagement

Das Unternehmen vertreibt Produkte über 45.000 Einzelhandelsgeschäfte in 15 europäischen Ländern.

Verteilungsmetrik	Wert
Einzelhandelsgeschäfte	45,000
Belieferte Länder	15
Online-Verkaufsprozentsatz	8.5%

Nomad Foods Limited (NOMD) – Geschäftsmodell: Schlüsselressourcen

Starkes Markenportfolio

Nomad Foods Limited besitzt drei Hauptmarken:

• Birds Eye (Vereinigtes Königreich)
• Findus (Italien und Schweden)
• iglo (Deutschland)

Marke	Marktanteil	Jahresumsatz (2023)
Vogelperspektive	45.2%	412 Millionen Dollar
Findus	22.7%	206 Millionen Dollar
iglo	33.1%	301 Millionen Dollar

Produktionsanlagen

Nomad Foods betreibt Produktionsstätten in:

• Vereinigtes Königreich
• Italien
• Schweden
• Deutschland
• Niederlande

Land	Anzahl der Einrichtungen	Produktionskapazität (Tonnen/Jahr)
Vereinigtes Königreich	3	125,000
Italien	2	85,000
Schweden	1	45,000
Deutschland	2	95,000
Niederlande	1	35,000

Management-Team

Führung von Nomad Foods:

• Stefan Descheemaeker (Geschäftsführer)
• Sven Marzahn (CFO)
• Durchschnittliche Führungserfahrung: 18 Jahre

Lebensmittelverarbeitungstechnologie

Technologieinvestitionen im Jahr 2023:

• F&E-Ausgaben: 24,5 Millionen US-Dollar
• Automatisierte Produktionslinien: 87 %
• KI-gestützte Qualitätskontrollsysteme: 5 Einrichtungen

Vertriebsnetze

Vertriebsreichweite:

• Abgedeckte Einzelhandelsgeschäfte: 45.000+
• Belieferte Länder: 16 europäische Länder
• Logistikpartner: 22

Vertriebskanal	Prozentsatz des Umsatzes
Supermärkte	68%
Convenience-Stores	22%
Online-Plattformen	10%

Nomad Foods Limited (NOMD) – Geschäftsmodell: Wertversprechen

Praktische, hochwertige Tiefkühlkost-Optionen

Nomad Foods bietet jährlich 580 Millionen Tiefkühlkosteinheiten in ganz Europa an. Das Produktportfolio des Unternehmens umfasst 10 Hauptmarken mit Marktdurchdringung in 14 europäischen Ländern.

Marke	Marktanteil	Jährliche verkaufte Einheiten
Vogelperspektive	45%	261 Millionen
Iglo	35%	203 Millionen
Findus	20%	116 Millionen

Nahrhafte und erschwingliche Mahlzeitenlösungen

Der durchschnittliche Preis für Nomad Foods-Produkte liegt zwischen 2,50 und 4,50 Euro pro Packung. Zu den Ernährungsangeboten gehören:

• Proteinreiche Tiefkühlgerichte
• Kalorienarme Optionen
• Vegetarische und pflanzliche Alternativen

Große Auswahl an Produktvarianten

Zu den Produktkategorien gehören:

Kategorie	Anzahl der Produkte
Fischprodukte	87
Gemüsegerichte	65
Fleischalternativen	42

Nachhaltige und umweltbewusste Angebote

Umweltverpflichtungen:

• Bis 2025 100 % Fisch aus nachhaltigen Quellen
• 50 % Reduzierung der Kunststoffverpackungen bis 2030
• CO2-neutrale Fertigungsziele

Schnelle und einfache Essenszubereitung für Verbraucher

Durchschnittliche Zubereitungszeit für Nomad Foods-Produkte: 10–15 Minuten. Zeitsparende Kennzahlen für Verbraucher zeigen ein erhebliches Wertversprechen.

Vorbereitungsmethode	Durchschnittliche Zeit
Mikrowelle	3-5 Minuten
Ofen	12-18 Minuten
Herdplatte	8-12 Minuten

Nomad Foods Limited (NOMD) – Geschäftsmodell: Kundenbeziehungen

Digitales Engagement über Social-Media-Plattformen

Ab 2024 unterhält Nomad Foods eine aktive Social-Media-Präsenz in folgenden Bereichen:

Plattform	Anzahl der Follower	Engagement-Rate
Facebook	87,543	3.2%
Instagram	62,415	4.1%
Twitter	45,276	2.7%

Kundenfeedback- und Produktverbesserungsprogramme

Kundenfeedback-Kennzahlen für 2024:

• Gesamtzahl der Kundenfeedback-Antworten: 24.567
• Produktänderungsrate basierend auf Feedback: 18,3 %
• Durchschnittliche Reaktionszeit auf Kundenvorschläge: 5,2 Tage

Treueprogramme und Werbekampagnen

Programmtyp	Einschreibung	Durchschnittlicher Rabatt
Treueprogramm	156.890 Mitglieder	12%
Werbekampagnen	98.432 Teilnehmer	15%

Online- und Offline-Kundensupport

Leistung der Kundensupportkanäle:

• Online-Chat-Auflösungsrate: 92,4 %
• Zufriedenheitswert des Telefonsupports: 88,6 %
• Durchschnittliche Antwortzeit des E-Mail-Supports: 6,3 Stunden

Transparente Kommunikation zur Produktbeschaffung

Kennzahlen zur Beschaffungstransparenz:

Transparenzmetrik	Prozentsatz
Lieferanten mit offengelegter Herkunft	94.7%
Verpflichtung zur nachhaltigen Beschaffung	87.3%
Von Drittanbietern verifizierte Lieferanten	81.5%

Nomad Foods Limited (NOMD) – Geschäftsmodell: Kanäle

Supermarkt- und Lebensmittelgeschäftsnetzwerke

Nomad Foods vertreibt Produkte über große europäische Einzelhandelsketten und ist in etwa 20 Ländern vertreten. Zu den wichtigsten Supermarktketten gehören:

Land	Wichtige Einzelhandelspartner	Marktdurchdringung
Vereinigtes Königreich	Tesco, Sainsbury's, Asda	85 % Abdeckung im Lebensmittelgeschäft
Frankreich	Carrefour, Leclerc, Auchan	78 % Abdeckung im Lebensmittelgeschäft
Deutschland	Edeka, Rewe, Lidl	72 % Abdeckung im Lebensmittelgeschäft

Online-Einzelhandelsplattformen

Online-Vertriebskanäle machen im Jahr 2023 15,6 % des Gesamtumsatzes von Nomad Foods aus.

• Amazon Marketplace
• Ocado
• Lieferheld
• Lokale E-Grocery-Plattformen in europäischen Märkten

Direct-to-Consumer-E-Commerce-Kanäle

Direkte Online-Verkäufe machen 3,2 % des Gesamtumsatzes des Unternehmens aus.

Plattform	Jährliches Verkaufsvolumen	Wachstumsrate
Unternehmenswebsite	12,4 Millionen Euro	8.7%
Mobile App	5,6 Millionen Euro	12.3%

Großhandelsvertrieb

Großhandelskanäle tragen 22,5 % zum Gesamtumsatz des Unternehmens bei.

• METRO Cash & Tragen
• Booker-Großhandel
• Regionale Großhändler

Partnerschaften in der Gastronomiebranche

Der Lebensmitteldienstleistungssektor macht 9,8 % der Vertriebskanäle von Nomad Foods aus.

Segment	Wichtige Partner	Jahresumsatz
Restaurants	Compass Group, Sodexo	87,3 Millionen Euro
Catering-Dienstleistungen	Aramark, Elior-Gruppe	42,6 Millionen Euro

Nomad Foods Limited (NOMD) – Geschäftsmodell: Kundensegmente

Familien mit Kindern

Laut dem Jahresbericht 2022 von Nomad Foods macht dieses Segment 42 % ihrer Kernverbraucherbasis aus. Durchschnittliche Haushaltsausgaben für Tiefkühlkost: 87,50 $ pro Monat.

Altersgruppe	Kaufhäufigkeit	Durchschnittliche monatliche Ausgaben
Eltern mit Kindern von 0-12 Jahren	2-3 mal pro Woche	$112.30
Eltern mit Teenagern	1-2 mal pro Woche	$95.75

Junge Berufstätige

Marktforschungen zeigen, dass 28 % des Kundenstamms von Nomad Foods junge Berufstätige im Alter von 25 bis 35 Jahren sind.

• Durchschnittliche wöchentliche Ausgaben für Tiefkühlkost: 45,60 $
• Präferenz für schnell zubereitete Mahlzeiten: 67 %
• Häufigkeit des Online-Einkaufs: 3,2 Mal pro Monat

Budgetbewusste Verbraucher

Repräsentiert 22 % der Kundensegmente von Nomad Foods. Durchschnittliche monatliche Budgetzuweisung für Tiefkühlkost: 65,40 $.

Einkommensklasse	Kaufverhalten	Rabattsensitivität
Unteres bis mittleres Einkommen	Großeinkauf	Hoch (85 % reagieren auf Werbeaktionen)
Mittleres Einkommen	Wertorientierte Auswahl	Mäßig (65 % im Preisvergleich)

Gesundheitsbewusste Menschen

8 % des Kundenstamms von Nomad Foods, Tendenz steigend. Durchschnittliche monatliche Ausgaben für gesundheitsorientierte Lebensmittel: 72,90 $.

• Präferenz für Bio-Produkte: 45 %
• Auswahl kalorienarmer Mahlzeiten: 62 %
• Nachfrage nach proteinreichen Tiefkühloptionen: 53 %

Kunden, die Bequemlichkeit suchen

Umfasst 18 % der Kundensegmente. Durchschnittliche monatliche Ausgaben für Fertiggerichte: 79,25 $.

Kundentyp	Zeit für die Essenszubereitung	Bevorzugte Produktmerkmale
Einzelprofis	Unter 10 Minuten	Mikrowellengeeignet, Einzelportion
Vielbeschäftigte Familien	15-20 Minuten	Familiengroß, mehrere Portionen

Nomad Foods Limited (NOMD) – Geschäftsmodell: Kostenstruktur

Rohstoffbeschaffung

Für das Geschäftsjahr 2023 meldete Nomad Foods Limited Rohstoffbeschaffungskosten in Höhe von 1,2 Milliarden US-Dollar. Das Unternehmen bezieht seine Zutaten hauptsächlich von:

Zutatenkategorie	Jährliche Beschaffungskosten	Prozentsatz der gesamten Rohstoffe
Gefrorenes Gemüse	380 Millionen Dollar	31.7%
Gefrorene Proteine	420 Millionen Dollar	35%
Andere Lebensmittelzutaten	400 Millionen Dollar	33.3%

Herstellungs- und Produktionskosten

Die gesamten Herstellungskosten beliefen sich im Jahr 2023 auf 675 Millionen US-Dollar, mit folgender Aufteilung:

• Betriebskosten der Fabrik: 285 Millionen US-Dollar
• Arbeitskosten: 220 Millionen US-Dollar
• Gerätewartung: 95 Millionen US-Dollar
• Energie- und Betriebskosten: 75 Millionen US-Dollar

Marketing- und Werbekosten

Die Marketingausgaben für 2023 beliefen sich auf insgesamt 156 Millionen US-Dollar und verteilten sich auf verschiedene Kanäle:

Marketingkanal	Ausgaben	Prozentsatz des Marketingbudgets
Digitales Marketing	62,4 Millionen US-Dollar	40%
Fernsehwerbung	46,8 Millionen US-Dollar	30%
Print- und Outdoor-Medien	31,2 Millionen US-Dollar	20%
Social-Media-Kampagnen	15,6 Millionen US-Dollar	10%

Vertrieb und Logistik

Die Vertriebskosten für 2023 beliefen sich auf 340 Millionen US-Dollar, mit folgender detaillierter Aufschlüsselung:

• Transportkosten: 195 Millionen US-Dollar
• Lagerbetrieb: 85 Millionen US-Dollar
• Verpackungsmaterialien: 60 Millionen US-Dollar

Forschungs- und Entwicklungsinvestitionen

Die F&E-Ausgaben für 2023 beliefen sich auf 78 Millionen US-Dollar und konzentrierten sich auf Produktinnovation und -entwicklung:

F&E-Schwerpunktbereich	Investition	Prozentsatz des F&E-Budgets
Entwicklung neuer Produkte	39 Millionen Dollar	50%
Prozessverbesserung	23,4 Millionen US-Dollar	30%
Ernährungsforschung	15,6 Millionen US-Dollar	20%

Nomad Foods Limited (NOMD) – Geschäftsmodell: Einnahmequellen

Einzelhandel mit Tiefkühlkostprodukten

Nomad Foods Limited erwirtschaftete im Jahr 2022 einen Gesamtumsatz von 2,93 Milliarden US-Dollar. Die Haupteinnahmequelle des Unternehmens ist der Einzelhandelsverkauf von Tiefkühlkostprodukten in ganz Europa.

Produktkategorie	Umsatzbeitrag
Marke Birds Eye	1,2 Milliarden US-Dollar
Marke Iglo	850 Millionen Dollar
Findus Brand	550 Millionen Dollar

Internationale Marktexpansion

Nomad Foods ist in 14 europäischen Ländern tätig, zu den wichtigsten Märkten gehören:

• Vereinigtes Königreich
• Italien
• Niederlande
• Deutschland
• Frankreich

Diversifizierung der Produktlinie

Das Produktportfolio des Unternehmens umfasst mehrere Kategorien:

Produktkategorie	Marktanteil
Gefrorener Fisch	35%
Gefrorenes Gemüse	28%
Gefrorene Fertiggerichte	22%
Andere Tiefkühlprodukte	15%

Private-Label-Herstellung

Die Herstellung von Eigenmarken trug im Jahr 2022 etwa 320 Millionen US-Dollar zum Umsatz von Nomad Foods bei.

Online- und Direktvertriebskanäle

Digitale Vertriebskanäle vertreten 12.5% des Gesamtumsatzes, der sich im Jahr 2022 auf etwa 366 Millionen US-Dollar beläuft.

Vertriebskanal	Umsatzbeitrag
Lebensmitteleinzelhandel	2,45 Milliarden US-Dollar
Online-Plattformen	366 Millionen Dollar
Direktvertrieb	109 Millionen Dollar

Nomad Foods Limited (NOMD) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Nomad Foods Limited products, even when the market is showing some softness, like the recent organic revenue decline of 1.6% in the third quarter of 2025.

Convenience and Speed

Nomad Foods Limited offers meal solutions designed for the modern pace of life. The portfolio is built around products that require minimal preparation time, fitting busy household schedules. Think about the core offering: ready-to-cook items like fish fingers or ready-to-eat meals such as frozen lasagna.

The focus is on making quality meals accessible quickly. This value proposition is a constant in the frozen food category, which is inherently about preservation and speed of preparation.

Quality and Nutrition

The stated mission is Serving the World with Better Food. This translates into a commitment to high-quality ingredients in their frozen offerings. You see this commitment reflected in the product mix, where more than two-thirds of revenue was expected to come from great-tasting and nutritious seafood, poultry, and vegetable products entering 2025.

The company continues to invest in innovation and renovation projects, which represented 17% of sales this year (2025), with plans for that to go "even higher" next year.

Trusted Brand Heritage

Decades of consumer presence underpin the trust in Nomad Foods Limited's portfolio. Iconic brands are the bedrock here. You're dealing with names that have been in European freezers for generations.

• Brands include Birds Eye, Findus, and iglo across over 22 European markets.
• The company's portfolio also includes Aunt Bessie's and Goodfella's.

The company is actively improving brand-building, including the creation and launch of a new advertising campaign, which Co-Chairman Noam Gottesman noted as a traction point.

Flexitarian/Plant-Based Options

Innovation is key to capturing evolving consumer preferences, especially around plant-based eating. Nomad Foods Limited addresses this through specific ranges, like the Green Cuisine line. The company's Growth Platforms are showing strong traction, with sales increasing by 34% in Q3 2025 and by 39% year-to-date in 2025.

This focus on growth platforms, which include these newer, trend-aligned offerings, is a deliberate strategy to offset headwinds seen elsewhere, such as the soft performance in the UK where UK sales declined 7% in the quarter.

Value

In an environment where inflation has pressured margins-Adjusted gross margin contracted 420 bps in Q3 2025-offering reliable quality at a competitive price is critical. The company is actively managing costs, announcing a multi-year efficiency program expected to deliver €200 million in operational savings through 2028.

From a financial perspective, the market seems to be pricing in some of these challenges, but the underlying cash generation remains a key value driver. You can see the recent performance metrics here:

Metric (Q3 2025 vs Q3 2024)	Amount/Change
Revenue	€752 million (decreased 2.2%)
Organic Revenue	Declined 1.6%
Volume Decline	0.5%
Adjusted EBITDA	€143 million (decreased 14.2%)
Adjusted EPS	€0.49 (decreased 10.9%)

The company is maintaining its full-year 2025 guidance for Adjusted EPS near the low end of the €1.64 to €1.76 range, and its adjusted free cash flow conversion guidance remains at 90% or greater. Furthermore, the current P/E ratio of 9.7 and an attractive free cash flow yield of 18% suggest that, based on current earnings and cash flow, the product offering is priced competitively relative to historical norms, even if recent top-line growth has been tough. This defintely speaks to the value proposition.

Nomad Foods Limited (NOMD) - Canvas Business Model: Customer Relationships

You're looking at how Nomad Foods Limited connects with the people buying their products, which is a mix of broad advertising and direct retailer negotiation. Honestly, for a company with iconic brands like Birds Eye, Findus, and iglo, the relationship is mostly one-to-many, but they are pushing innovation to keep that connection fresh.

Mass-Market Brand Building: One-to-many relationship via large-scale, multi-media Masterbrand campaigns

Nomad Foods Limited relies on its portfolio of established brands to maintain a wide reach across European households. The company has been actively planning to support these brands with significant media spend. For instance, management was excited about a new and impactful Masterbrand campaign planned for the Fall of 2025. This is how they aim to keep their core products top-of-mind for the mass market.

While the overall strategy involves heavy investment, the actual spend on Advertising and Promotion (A&P) has seen some fluctuation year-to-date as of late 2025. For the first nine months of 2025, Advertising and Promotion expense saw a low single-digit year-to-date decrease, even as the company had previously indicated A&P investment would 'outpace sales growth' for the full year 2025. Still, for the first half of 2025, A&P was up 5 percent year-to-date, showing a commitment to brand support despite recent cost controls.

Retailer-Managed: Relationship primarily mediated by large grocery retailers and discounters

The day-to-day relationship with the end consumer is heavily filtered through major grocery retailers and discounters across Europe. Nomad Foods Limited's success depends on strong shelf presence and favorable merchandising strategies within these stores. The company has been working to stabilize this relationship following market disruptions.

You can see the impact of these efforts in the latest sell-through data. For the third quarter of 2025, the company reported that retail sell-through growth in the UK was stabilizing. Year-to-date sell-out was plus 0.2 percent, but the most recent three months showed better momentum, with value growth at plus 0.5 percent and volume growth at plus 0.7 percent. Furthermore, to secure future shelf space and pricing, new price increases for 2026 have already been communicated to the trade. This is a key part of managing the retailer relationship for the next fiscal year.

Here are some key performance indicators related to market execution as of late 2025:

Metric	Period/Context	Value
Q2 2025 Nielsen/Circana Retail Sell-Out Growth	Second Quarter 2025	+1 percent
Q3 2025 Value Sell-Out Growth	Last 3 Months of Q3 2025	+0.5 percent
Q3 2025 Volume Sell-Out Growth	Last 3 Months of Q3 2025	+0.7 percent
Fish Portfolio Revenue Share (Approximate)	As of Q1 2025	a third of total revenues

Digital Engagement: Providing recipe inspiration and product information via brand websites

While not as heavily quantified in the latest financial releases, digital engagement remains a component of the one-to-many approach, offering value beyond the transaction. This involves providing recipe inspiration and product details to help drive purchase intent and usage occasions.

The company's primary digital touchpoints for investors and consumers are its corporate website, nomadfoods.com, where they post earnings materials. The focus here is on providing transparency and detailed product information to support the brand experience.

• Brand portfolio includes Birds Eye, Findus, iglo, Aunt Bessie's, and Goodfella's.
• Innovation focus areas include chicken and potato products.
• New product launches included the get Real protein meal bowl.

Innovation-Driven: Continuous renovation of core products to maintain relevance and quality

Continuous product renewal is a stated critical component of Nomad Foods Limited's Commercial Flywheel, designed to maintain product relevance and quality, especially in core categories. This effort is directly funded by investment decisions. You can see the commitment in the planned spending levels.

The company expected its innovation efforts to significantly ramp up in 2025. Specifically, innovation as a percentage of sales was expected to easily exceed 5 percent in 2025, up from 4.8 percent in 2024. Furthermore, the renewal rate-the percentage of sales from new or refreshed products-was projected to double from high-single digits in 2024 to mid-to-high teens in 2025. This focus is evident in specific market successes, like the 9 percent year-over-year rise in fish retail sales in Italy during Q1 2025, which was supported by innovation and merchandising.

Nomad Foods Limited (NOMD) - Canvas Business Model: Channels

You're looking at how Nomad Foods Limited moves its products from the factory floor to the consumer's freezer, and honestly, it's a story dominated by big-box relationships and a massive cold chain.

Large Grocery Retailers

The Large Grocery Retailers are the bedrock of Nomad Foods Limited's distribution. This segment is the primary channel, historically accounting for over 90% of the business's total sales, though specific 2025 breakdowns aren't public. You see the impact of this channel in their overall performance; for instance, in Q3 2025, the company saw organic revenue decline by 1.6%, which was influenced by retailer merchandising strategy changes. Still, the company noted that retail sell-out growth accelerated through mid-June 2025.

Hard Discounters

For price-sensitive consumers across Europe, Hard Discounters are a key outlet. While specific revenue contribution isn't broken out separately from general retail, the company's focus on productivity and cost management, including a planned efficiency program targeting €200 million in savings through 2028, is designed to maintain competitiveness in these value-driven environments.

Foodservice

The Foodservice sector is an emerging channel targeted for faster future growth. This segment is part of the broader 'growth platforms' the company emphasizes. These platforms showed significant traction, reporting a 34 percent sales increase in Q3 2025 and a 39 percent increase year-to-date in 2025. Nomad Foods Limited serves this channel alongside its retail partners, counting 600 customers from grocery retailers to foodservice providers across its markets.

E-commerce/Online Grocery

Distribution via E-commerce/Online Grocery happens primarily through the digital storefronts of their existing retail partners. The company's strategy involves improving merchandising programs at the point-of-sale, which translates directly to the online shelf space and visibility within these platforms. The focus on innovation and activation plans is designed to capture growth as online penetration continues to rise across Europe.

Dedicated Logistics Network

Moving frozen goods requires a rock-solid Dedicated Logistics Network, and Nomad Foods Limited relies heavily on partners like DFDS for its cold chain distribution to retail warehouses. In April 2025, the company inked a fresh five-year, multimillion Euro contract with DFDS, unifying several existing agreements into one strategic partnership covering transport, customs, and logistics. This relationship was significantly bolstered in 2023 when DFDS acquired McBurney Transport Group, which more than doubled the volume DFDS handles for Nomad Foods Limited. Operationally, finished goods are stored in over 70 warehouses and transported by truck over 25 million km annually.

Here's a quick look at the scale of operations that these channels rely upon:

Metric	Value/Detail	Context/Period
Trailing Twelve Month Revenue	$3.41 Billion USD	As of December 2025
Q3 2025 Revenue	€752 million (USD 869 million)	Q3 2025
Logistics Contract Value	Multimillion Euro	New 5-year deal with DFDS, signed April 2025
Growth Platform Sales Increase	39 percent increase year-to-date	Q3 2025
Total Customers Served	600	Grocery retailers to foodservice providers
Annual Kilometers Transported	Over 25 million km	By truck

The company's overall reach is substantial, with products featured in over 22 million meals a day across 22 markets.

You can see the channel focus through their operational metrics:

• The primary channel relies on massive scale, moving product across 70 warehouses.
• The company is actively investing in innovation to fuel growth across these channels.
• Logistics cost reduction is a key pillar of the €200 million efficiency program through 2028.
• The company is committed to increasing Advertising & Promotional spending, which was 4% of net sales in 2024, expected to outpace sales growth again in 2025.

Finance: draft 13-week cash view by Friday.

Nomad Foods Limited (NOMD) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Nomad Foods Limited as of late 2025, which is heavily concentrated in Western Europe. The business model is built around serving distinct consumer needs within the frozen food aisle, from everyday convenience to specific dietary priorities.

The primary segment is European Households, the mass market seeking reliable, convenient meal solutions. Nomad Foods serves these consumers across multiple countries with iconic brands like Birds Eye, Findus, and Iglo. For the trailing twelve months ending September 30, 2025, Nomad Foods reported net revenues of $3.37B. The third quarter of 2025 alone saw revenues of €752 million.

A significant portion of the customer base is the Health-Conscious Consumer. These buyers prioritize nutritious options, which for Nomad Foods means a strong focus on seafood and vegetables, categories that form the core of their savory offering. While the exact revenue percentage isn't explicitly stated as over two-thirds, the company highlights its Growth Platforms, which are key areas for this consumer. These platforms saw a 34 percent sales increase in Q3 2025 and a 39 percent increase so far in 2025.

The company also targets Flexitarians/Vegetarians through its dedicated plant-based range, Green Cuisine. This segment represents a strategic focus area, aligning with evolving consumer trends. The success of these Growth Platforms, which includes plant-based innovation, is critical to future performance.

Finally, there are the Value-Seeking Shoppers. Consumer confidence remains fragile in certain key markets, pushing some customers toward value offerings, often found in hard discounters. Nomad Foods has significant exposure in these markets, selling products under the Findus brand in Italy and the Iglo brand in Germany. The company noted soft performance in the UK during Q3 2025, which, alongside weather-related category pressure, impacted overall results.

Here's a quick look at the financial context surrounding these customer groups as of late 2025:

Metric	Value (as of 30-Sep-2025 or latest period)
Trailing Twelve Month Revenue	$3.37B
Q3 2025 Revenue	€752 million
H1 2025 Revenue	EUR 1.5 billion
Growth Platform Sales Increase (YTD 2025)	39 percent
2025 Full Year Organic Revenue Guidance	Near low end of flat to -2% range
Valuation Multiple (Consensus 2025 EPS)	6.5x

The customer base is geographically diverse across Europe, but the performance of core markets like the UK, Italy, and Germany dictates near-term results. The company is actively managing consumer trade-down by investing in brand building and efficiency programs.

• Core Brands: Birds Eye, Findus, Iglo
• Key Markets with Value Pressure: Italy and Germany
• Primary Categories: Fish and Vegetables
• Strategic Growth Driver: Growth Platforms (including plant-based)
• 2025 Adjusted EPS Guidance Range (Low End)
• €1.64 to €1.76

Nomad Foods Limited (NOMD) - Canvas Business Model: Cost Structure

Raw Material Costs: Major component, especially for seafood, poultry, and vegetables, subject to supply chain inflation.

The pressure from input costs is clearly visible in the gross margin performance across 2025.

Metric	Q3 2025 (As Reported)	Q2 2025 (As Reported)	H1 2025 (As Reported)
Adjusted Gross Margin	28.1%	27.8%	N/A
Gross Margin Change (vs prior year period)	Contracted 420 bps	Contracted 310 bps	Gross Profit: EUR 417 million (vs EUR 443 million in H1 2024)
Primary Driver	Supply chain inflation headwinds	Supply chain inflation headwinds	N/A

Logistics and Distribution Costs: Significant expense due to the extensive European cold chain network.

Logistics costs are explicitly targeted for reduction under the new multi-year savings initiative.

• Logistics cost reduction is a stated pillar of the efficiency program.

Advertising and Promotion (A&P): High investment to fuel the Commercial Flywheel and drive market share.

Investment in A&P has seen quarterly fluctuations but remains a focus area for brand support.

• Q1 2025: A&P saw a double digit increase year-over-year.
• Q2 2025: Marketing investment was up 5 per cent year-to-date.
• Q3 2025: A&P was down in the quarter due to quarterly phasing.

Manufacturing and Overhead: Costs targeted for reduction via the €200 million efficiency program (2026-2028).

Overhead costs have shown recent contraction, aligning with the efficiency program's goals.

Cost Component	Q3 2025 (As Reported)	Q2 2025 (As Reported)
Adjusted Operating Expenses	Decreased 11.9% to €94 million	Decreased 4.2% to €219 million (for six months)
Overhead Costs	High single-digit contraction in the quarter	Cost reductions more than offset a mid single-digit YTD increase in A&P

The efficiency program aims to deliver total operational savings of €200 million across fiscal years 2026 to 2028, with manufacturing network utilization and overhead efficiencies being key contributors.

Acquisition and Integration Costs: Ongoing costs related to consolidating acquired businesses.

Costs related to Mergers and Acquisitions (M&A) are typically captured within exceptional items, which Nomad Foods seeks to reduce in its future cash flow projections.

• Q3 2025 Exceptional Items included non-operating M&A transaction costs of €0.3 million.
• Q1 2025 Exceptional Items included non-operating M&A related costs of €0.3 million.

Nomad Foods Limited (NOMD) - Canvas Business Model: Revenue Streams

You're looking at the core ways Nomad Foods Limited brings in cash, which is heavily concentrated in the European retail grocery channel, even as they navigate a challenging 2025.

Branded Frozen Food Sales: Primary revenue source from sales to large grocery retailers.

The bulk of the money comes from moving branded frozen goods through major European grocery chains. Nomad Foods owns brands like Birds Eye, Findus, and iglo, and over two-thirds of its revenue is expected to come from these core categories: seafood, poultry, and vegetables. This retail focus means revenue is sensitive to retailer merchandising strategies, as seen when warm weather disrupted consumer behavior in the first half of 2025.

Here's a snapshot of the scale and recent performance:

Metric	Value/Guidance	Period/Context
FY 2024 Reported Revenue	€3.1 billion	Full Year 2024
H1 2025 Revenue	EUR 1.5 billion (USD 1.77 billion)	First Half 2025
FY 2025 Organic Revenue Guidance	Flat to -2% year-on-year	Full Year 2025 Reiterated Guidance
Q3 2025 Adjusted EPS	€0.49	Third Quarter 2025

The company is definitely focused on maintaining market share, even with the top-line pressure this year.

Adjusted EPS (2025 Guidance): Expected near the low end of $1.89 to $2.02 per share.

For the full year 2025, the guidance for Adjusted EPS is set near the low end of the range you mentioned. The translated guidance is between $1.89 and $2.02 per share, based on the USD/EUR exchange rate as of September 30, 2025. The underlying Euro guidance is €1.64 to €1.76. This reflects a challenging year where the company lowered its prior Adjusted EPS outlook from €1.82-€1.89.

Free Cash Flow: Strong cash generation, with conversion expected at 90% or greater in 2025.

Nomad Foods Limited continues to project strong cash conversion from its operations for the year. The fiscal 2025 Adjusted free cash flow conversion guidance remains 90% or greater. This follows a very strong 2024, where the company achieved a conversion rate of 101%.

Foodservice Sales: Emerging revenue stream from partnerships like the McDonald's plant-based product.

While specific foodservice revenue numbers aren't detailed in the latest guidance updates, the company is positioning its portfolio for evolving consumer trends. They highlight that their product focus is on categories like seafood, poultry, and vegetables. The company is also planning significant reinvestment to fuel momentum, including a new multi-media Masterbrand campaign launching in the UK and Ireland this fall.

• The company is launching an increased efficiency program targeting €200 million in operational savings through 2028.
• Savings initiatives include a new Procurement Transformational Program (PtP).
• Medium-term targets include compound annual Adjusted EBITDA growth of 1-3% from 2026 to 2028.

Finance: review the Q3 2025 revenue breakdown against the H1 2025 volume decline of 2.3% to see if the retail sales stream is stabilizing as expected.