Nomad Foods Limited (NOMD): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el mundo estratégico de Nomad Foods Limited, una potencia en el mercado europeo de alimentos congelados que transforma las comidas cotidianas en experiencias convenientes y deliciosas. Con un sólido lienzo de modelo de negocio que abarca un desarrollo innovador de productos, asociaciones estratégicas y un enfoque diverso centrado en el cliente, Nomad Foods ha forjado magistralmente un nicho en la industria alimentaria competitiva. Desde sus marcas icónicas como Birds Eye hasta su compromiso con soluciones sostenibles de comidas congeladas de alta calidad, esta compañía representa un plan fascinante de la estrategia moderna de negocios alimentarios que va mucho más allá de la simple fabricación de productos.

Nomad Foods Limited (Nomd) - Modelo de negocios: asociaciones clave

Proveedores estratégicos de ingredientes de alimentos congelados

Nomad Foods Limited colabora con múltiples proveedores de ingredientes estratégicos en toda Europa. A partir de 2023, la compañía obtiene ingredientes de aproximadamente 127 proveedores verificados, con un 68% ubicado dentro de los países de la Unión Europea.

Categoría de proveedor	Número de proveedores	Valor de adquisición anual
Proveedores de ingredientes vegetales	42	€ 87.3 millones
Proveedores de ingredientes proteicos	35	112.6 millones de euros
Proveedores de condimento y especias	23	24,7 millones de euros

Minoristas

Nomad Foods mantiene asociaciones estratégicas con los principales minoristas europeos.

Detallista	Volumen de ventas anual	Penetración del mercado
Tesco	214.5 millones de euros	22% del total de ventas europeas
Auto	189.7 millones de euros	19% del total de ventas europeas
Sainsbury's	€ 156.3 millones	16% del total de ventas europeas

Proveedores de servicios de embalaje y logística

La compañía trabaja con socios especializados de empaquetado y logística para garantizar una distribución eficiente.

• Total de Logistics Partners: 17
• Gastos de logística anual: € 92.4 millones
• Distancia promedio de transporte: 876 kilómetros

Proveedores agrícolas y de proteínas

Nomad Foods mantiene relaciones sólidas con productores agrícolas y proveedores de proteínas.

Tipo de proveedor	Proveedores totales	Adquisición anual
Productores agrícolas	53	176.8 millones de euros
Proveedores de proteínas	29	245,6 millones de euros

Socios de tecnología alimentaria e innovación

Nomad Foods invierte en asociaciones tecnológicas para mejorar el desarrollo de productos.

• Socios de innovación total: 12
• Inversión anual de I + D: 37,5 millones de euros
• Colaboraciones de patentes: 8 asociaciones activas

Nomad Foods Limited (Nomd) - Modelo de negocio: actividades clave

Desarrollo de productos e innovación

Nomad Foods Limited invirtió $ 32.5 millones en investigación y desarrollo en 2022. La compañía mantiene 7 centros de innovación principales en toda Europa.

Métrica de innovación	Valor
Gastos anuales de I + D	$ 32.5 millones
Centros de innovación	7
Auntos de nuevos productos (2022)	15

Fabricación de productos alimenticios congelados

Nomad Foods opera 16 instalaciones de fabricación en Europa con una capacidad de producción total de 480,000 toneladas métricas anualmente.

• Instalaciones de fabricación totales: 16
• Capacidad de producción anual: 480,000 toneladas métricas
• Ubicaciones de fabricación primaria: Reino Unido, Países Bajos, Francia, Italia

Marketing y gestión de marca

El gasto de marketing para Nomad Foods en 2022 fue de aproximadamente $ 124 millones, lo que representa el 6.2% de los ingresos totales.

Métrico de marketing	Valor
Gastos de marketing (2022)	$ 124 millones
Porcentaje de gastos de marketing	6.2%
Marcas principales	Birds Eye, Iglo, Findus

Optimización de la cadena de suministro

Nomad Foods administra una compleja cadena de suministro que involucra a más de 250 proveedores directos en toda Europa.

• Proveedores directos totales: 250+
• Cobertura de abastecimiento sostenible: 68%
• Relación de eficiencia de la cadena de suministro: 0.92

Distribución y gestión de canales minoristas

La compañía distribuye productos a través de 45,000 puntos de venta minoristas en 15 países europeos.

Métrico de distribución	Valor
Salidas minoristas	45,000
Países atendidos	15
Porcentaje de ventas en línea	8.5%

Nomad Foods Limited (Nomd) - Modelo de negocio: recursos clave

Cartera de marca fuerte

Nomad Foods Limited posee tres marcas principales:

• Birds Eye (Reino Unido)
• Findus (Italia y Suecia)
• Iglo (Alemania)

Marca	Cuota de mercado	Ingresos anuales (2023)
Ojo de pájaros	45.2%	$ 412 millones
Hallazgo	22.7%	$ 206 millones
Iglo	33.1%	$ 301 millones

Instalaciones de fabricación

Nomad Foods opera instalaciones de fabricación en:

• Reino Unido
• Italia
• Suecia
• Alemania
• Países Bajos

País	Número de instalaciones	Capacidad de producción (toneladas/año)
Reino Unido	3	125,000
Italia	2	85,000
Suecia	1	45,000
Alemania	2	95,000
Países Bajos	1	35,000

Equipo de gestión

Liderazgo de Nomad Foods:

• Stefan Descheemaeeker (CEO)
• Sven Marzahn (CFO)
• Experiencia ejecutiva promedio: 18 años

Tecnología de procesamiento de alimentos

Inversiones tecnológicas en 2023:

• Gasto de I + D: $ 24.5 millones
• Líneas de producción automatizadas: 87%
• Sistemas de control de calidad habilitados para AI: 5 instalaciones

Redes de distribución

Alcance de distribución:

• Tiendas minoristas cubiertas: más de 45,000
• Países atendidos: 16 países europeos
• Socios de logística: 22

Canal de distribución	Porcentaje de ventas
Supermercados	68%
Tiendas de conveniencia	22%
Plataformas en línea	10%

Nomad Foods Limited (Nomd) - Modelo de negocio: propuestas de valor

Opciones de alimentos congelados convenientes de alta calidad

Nomad Foods ofrece 580 millones de unidades de comida congelada anualmente en toda Europa. La cartera de productos de la compañía incluye 10 marcas principales con penetración del mercado en 14 países europeos.

Marca	Cuota de mercado	Unidades anuales vendidas
Ojo de pájaros	45%	261 millones
Iglo	35%	203 millones
Hallazgo	20%	116 millones

Soluciones de comidas nutritivas y asequibles

Punto de precio promedio de los productos Nomad Foods Rangos entre € 2.50 y € 4.50 por paquete. Las ofertas nutricionales incluyen:

• Comidas congeladas ricas en proteínas
• Opciones de baja calorías
• Alternativas vegetarianas y a base de plantas

Amplia gama de variedades de productos

Las categorías de productos incluyen:

Categoría	Número de productos
Productos para pescado	87
Platos de verduras	65
Alternativas de carne	42

Ofertas sostenibles y conscientes del medio ambiente

Compromisos ambientales:

• Pescado de origen 100% sostenible para 2025
• Reducción del 50% en el embalaje de plástico para 2030
• Objetivos de fabricación neutral en carbono

Preparación de comida rápida y fácil para los consumidores

Tiempo de preparación promedio para los productos Nomad Foods: 10-15 minutos. Las métricas de ahorro de tiempo del consumidor demuestran una propuesta de valor significativa.

Método de preparación	Tiempo promedio
Microonda	3-5 minutos
Horno	12-18 minutos
Estufa	8-12 minutos

Nomad Foods Limited (Nomd) - Modelo de negocios: relaciones con los clientes

Compromiso digital a través de plataformas de redes sociales

A partir de 2024, Nomad Foods mantiene la presencia activa de las redes sociales en:

Plataforma	Recuento de seguidores	Tasa de compromiso
Facebook	87,543	3.2%
Instagram	62,415	4.1%
Gorjeo	45,276	2.7%

Comentarios de los clientes y programas de mejora de productos

Métricas de comentarios de los clientes para 2024:

• Respuestas totales de comentarios de los clientes: 24,567
• Tasa de modificación del producto basada en comentarios: 18.3%
• Tiempo de respuesta promedio a las sugerencias de los clientes: 5.2 días

Programas de fidelización y campañas promocionales

Tipo de programa	Inscripción	Descuento promedio
Programa de fidelización	156,890 miembros	12%
Campañas promocionales	98,432 participantes	15%

Atención al cliente en línea y fuera de línea

Rendimiento de los canales de atención al cliente:

• Tasa de resolución de chat en línea: 92.4%
• Puntuación de satisfacción del soporte telefónico: 88.6%
• Soporte por correo electrónico Tiempo de respuesta promedio: 6.3 horas

Comunicación transparente sobre el abastecimiento de productos

Métricas de transparencia de abastecimiento:

Métrica de transparencia	Porcentaje
Proveedores con origen revelado	94.7%
Compromiso de abastecimiento sostenible	87.3%
Proveedores verificados de terceros	81.5%

Nomad Foods Limited (Nomd) - Modelo de negocio: canales

Redes de supermercados y supermercados

Nomad Foods distribuye productos a través de las principales cadenas minoristas europeas, con presencia en aproximadamente 20 países. Las redes clave de supermercados incluyen:

País	Socios minoristas clave	Penetración del mercado
Reino Unido	Tesco, Sainsbury's, Asda	85% de cobertura de la tienda de comestibles
Francia	Carrefour, Leclerc, Auchan	78% de cobertura de la tienda de comestibles
Alemania	Edeka, Rewe, Lidl	72% de cobertura de la tienda de comestibles

Plataformas minoristas en línea

Los canales de ventas en línea representan el 15.6% de los ingresos totales de Nomad Foods en 2023.

• Mercado de Amazon
• Ocado
• Héroe de entrega
• Plataformas locales de gocerio electrónico en los mercados europeos

Canales de comercio electrónico directo al consumidor

Cuenta directa de ventas en línea para el 3.2% de los ingresos totales de la compañía.

Plataforma	Volumen de ventas anual	Índice de crecimiento
Sitio web de la empresa	12,4 millones de euros	8.7%
Aplicación móvil	5,6 millones de euros	12.3%

Distribución al por mayor

Los canales mayoristas contribuyen al 22.5% de los ingresos totales de la compañía.

• Dinero en efectivo & Llevar
• Booker al por mayor
• Distribuidores mayoristas regionales

Asociaciones de la industria de servicios de alimentos

El sector de servicios de alimentos representa el 9.8% de los canales de distribución de Nomad Foods.

Segmento	Socios clave	Ingresos anuales
Restaurantes	Grupo Compass, Sodexo	€ 87.3 millones
Servicios de catering	Aramark, Elior Group	42,6 millones de euros

Nomad Foods Limited (Nomd) - Modelo de negocio: segmentos de clientes

Familias con niños

Según el informe anual 2022 de Nomad Foods, este segmento representa el 42% de su base de consumidores centrales. Gasto promedio del hogar en alimentos congelados: $ 87.50 por mes.

Grupo de edad	Frecuencia de compra	Gasto mensual promedio
Padres con hijos de 0 a 12 años	2-3 veces por semana	$112.30
Padres con adolescentes	1-2 veces por semana	$95.75

Jóvenes profesionales

La investigación de mercado indica que el 28% de la base de clientes de Nomad Foods comprende jóvenes profesionales de 25 a 35 años.

• Gasto promedio de alimentos congelados semanales: $ 45.60
• Preferencia por comidas de preparación rápida: 67%
• Frecuencia de compra en línea: 3.2 veces al mes

Consumidores conscientes del presupuesto

Representa el 22% de los segmentos de clientes de Nomad Foods. Asignación promedio de presupuesto mensual para alimentos congelados: $ 65.40.

Soporte de ingresos	Comportamiento de compras	Sensibilidad de descuento
Ingresos medios más bajos	Compras a granel	Alto (85% de respuesta a las promociones)
Ingresos medios	Selecciones de valor	Moderado (65% de comparación de precios)

Individuos conscientes de la salud

8% de la base de clientes de Nomad Foods, con tendencia creciente. Gasto promedio de alimentos mensuales centrados en la salud: $ 72.90.

• Preferencia de producto orgánico: 45%
• Selección de comida baja en calorías: 62%
• Opciones congeladas ricas en proteínas Demanda: 53%

Clientes de búsqueda de conveniencia

Comprende el 18% de los segmentos de los clientes. Gasto promedio de alimentos mensuales de conveniencia: $ 79.25.

Tipo de cliente	Tiempo de preparación de comidas	Características del producto preferido
Profesionales solteros	Menos de 10 minutos	De microondas, por un solo servicio
Familias ocupadas	15-20 minutos	De tamaño familiar, múltiple

Nomad Foods Limited (Nomd) - Modelo de negocio: Estructura de costos

Adquisición de materia prima

Para el año fiscal 2023, Nomad Foods Limited informó costos de adquisición de materias primas de $ 1.2 mil millones. La compañía obtiene ingredientes principalmente de:

Categoría de ingredientes	Costo de adquisición anual	Porcentaje de materias primas totales
Vegetales congelados	$ 380 millones	31.7%
Proteínas congeladas	$ 420 millones	35%
Otros ingredientes alimentarios	$ 400 millones	33.3%

Gastos de fabricación y producción

Los gastos de fabricación totales para 2023 fueron de $ 675 millones, con el siguiente desglose:

• Costos operativos de fábrica: $ 285 millones
• Gastos laborales: $ 220 millones
• Mantenimiento del equipo: $ 95 millones
• Costos de energía y servicios públicos: $ 75 millones

Costos de marketing y publicidad

Los gastos de marketing para 2023 totalizaron $ 156 millones, asignados en varios canales:

Canal de marketing	Gasto	Porcentaje del presupuesto de marketing
Marketing digital	$ 62.4 millones	40%
Publicidad televisiva	$ 46.8 millones	30%
Medios impresos y al aire libre	$ 31.2 millones	20%
Campañas de redes sociales	$ 15.6 millones	10%

Distribución y logística

Los gastos de distribución para 2023 ascendieron a $ 340 millones, con el siguiente desglose detallado:

• Costos de transporte: $ 195 millones
• Operaciones de almacén: $ 85 millones
• Materiales de embalaje: $ 60 millones

Inversiones de investigación y desarrollo

El gasto de I + D para 2023 fue de $ 78 millones, centrándose en la innovación y el desarrollo de productos:

Área de enfoque de I + D	Inversión	Porcentaje del presupuesto de I + D
Desarrollo de nuevos productos	$ 39 millones	50%
Mejora del proceso	$ 23.4 millones	30%
Investigación nutricional	$ 15.6 millones	20%

Nomad Foods Limited (NOMD) - Modelo de negocios: flujos de ingresos

Ventas minoristas de productos alimenticios congelados

Nomad Foods Limited generó ingresos totales de $ 2.93 mil millones en 2022. La principal fuente de ingresos de la compañía proviene de las ventas minoristas de productos alimenticios congelados en toda Europa.

Categoría de productos	Contribución de ingresos
Marca de ojos de pájaros	$ 1.2 mil millones
Marca Iglo	$ 850 millones
Marca Findus	$ 550 millones

Expansión del mercado internacional

Nomad Foods opera en 14 países europeos, con mercados clave que incluyen:

• Reino Unido
• Italia
• Países Bajos
• Alemania
• Francia

Diversificación de la línea de productos

La cartera de productos de la compañía incluye múltiples categorías:

Categoría de productos	Cuota de mercado
Pescado congelado	35%
Vegetales congelados	28%
Comidas preparadas congeladas	22%
Otros productos congelados	15%

Fabricación de etiquetas privadas

La fabricación de etiquetas privadas contribuyó con aproximadamente $ 320 millones a los ingresos de Nomad Foods en 2022.

Canales de ventas en línea y directos

Canales de ventas digitales representados 12.5% de ingresos totales, ascendiendo a aproximadamente $ 366 millones en 2022.

Canal de ventas	Contribución de ingresos
Comercio minorista	$ 2.45 mil millones
Plataformas en línea	$ 366 millones
Ventas directas	$ 109 millones

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.