NOMAD FOODS LIMITED (NOMD): Business Model Canvas [Jan-2025 Mise à jour]

Plongez dans le monde stratégique de Nomad Foods Limited, une puissance du marché européen des aliments gelés qui transforme les repas du quotidien en expériences délicieuses et pratiques. Avec une toile de modèle commerciale robuste qui couvre le développement de produits innovants, des partenariats stratégiques et une approche diversifiée centrée sur le client, Nomad Foods a magistralement creusé un créneau dans l'industrie alimentaire compétitive. De ses marques emblématiques comme Birds Eye à son engagement envers les solutions de repas surgelées durables et de haute qualité, cette entreprise représente un plan fascinant de la stratégie commerciale moderne qui va bien au-delà de la simple fabrication de produits.

NOMAD FOODS LIMITED (NOMD) - Modèle d'entreprise: partenariats clés

Fournisseurs stratégiques d'ingrédients alimentaires glacés

Nomad Foods Limited collabore avec plusieurs fournisseurs d'ingrédients stratégiques à travers l'Europe. En 2023, la société s'approvisionne en ingrédients d'environ 127 fournisseurs vérifiés, avec 68% situés dans les pays de l'Union européenne.

Catégorie des fournisseurs	Nombre de fournisseurs	Valeur d'achat annuelle
Fournisseurs d'ingrédients végétaux	42	87,3 millions d'euros
Fournisseurs d'ingrédients protéiques	35	112,6 millions d'euros
Assaisonnement et fournisseurs d'épices	23	24,7 millions d'euros

Détaillants

Nomad Foods maintient des partenariats stratégiques avec les principaux détaillants européens.

Détaillant	Volume des ventes annuelles	Pénétration du marché
Tesco	214,5 millions d'euros	22% du total des ventes européennes
Carrefour	189,7 millions d'euros	19% du total des ventes européennes
Sainsbury	156,3 millions d'euros	16% du total des ventes européennes

Fournisseurs de services d'emballage et de logistique

La société travaille avec des partenaires spécialisés d'emballage et de logistique pour assurer une distribution efficace.

• Partenaires logistiques totaux: 17
• Dépenses logistiques annuelles: 92,4 millions d'euros
• Distance moyenne du transport: 876 kilomètres

Fournisseurs agricoles et protéiques

Nomad Foods maintient des relations robustes avec les producteurs agricoles et les fournisseurs de protéines.

Type de fournisseur	Total des fournisseurs	Approvisionnement annuel
Producteurs agricoles	53	176,8 millions d'euros
Fournisseurs de protéines	29	245,6 millions d'euros

Partners de technologie et d'innovation alimentaire

Nomad Foods investit dans des partenariats technologiques pour améliorer le développement de produits.

• Partenaires totaux d'innovation: 12
• Investissement annuel R&D: 37,5 millions d'euros
• Collaborations de brevets: 8 partenariats actifs

NOMAD FOODS LIMITED (NOMD) - Modèle d'entreprise: Activités clés

Développement et innovation de produits

Nomad Foods Limited a investi 32,5 millions de dollars dans la recherche et le développement en 2022. La société maintient 7 centres d'innovation primaires à travers l'Europe.

Métrique d'innovation	Valeur
Dépenses annuelles de R&D	32,5 millions de dollars
Centres d'innovation	7
Lancements de nouveaux produits (2022)	15

Fabrication de produits alimentaires surgelés

Nomad Foods exploite 16 installations de fabrication à travers l'Europe avec une capacité de production totale de 480 000 tonnes métriques par an.

• Installations de fabrication totale: 16
• Capacité de production annuelle: 480 000 tonnes métriques
• Emplacements de fabrication primaires: Royaume-Uni, Pays-Bas, France, Italie

Marketing et gestion de la marque

Les dépenses de marketing pour Nomad Foods en 2022 étaient d'environ 124 millions de dollars, ce qui représente 6,2% des revenus totaux.

Métrique marketing	Valeur
Dépenses de marketing (2022)	124 millions de dollars
Pourcentage de dépenses de marketing	6.2%
Marques primaires	Birds Eye, Iglo, Findus

Optimisation de la chaîne d'approvisionnement

Nomad Foods gère une chaîne d'approvisionnement complexe impliquant plus de 250 fournisseurs directs à travers l'Europe.

• Total des fournisseurs directs: 250+
• Couverture d'approvisionnement durable: 68%
• Ratio d'efficacité de la chaîne d'approvisionnement: 0,92

Gestion de la distribution et des canaux de vente au détail

La société distribue des produits à travers 45 000 points de vente dans 15 pays européens.

Métrique de distribution	Valeur
Points de vente au détail	45,000
Pays desservis	15
Pourcentage de vente en ligne	8.5%

NOMAD FOODS LIMITED (NOMD) - Modèle commercial: Ressources clés

Portfolio de marque solide

Nomad Foods Limited possède trois marques principales:

• Birds Eye (Royaume-Uni)
• Findus (Italie et Suède)
• Iglo (Allemagne)

Marque	Part de marché	Revenus annuels (2023)
Œil des oiseaux	45.2%	412 millions de dollars
Findus	22.7%	206 millions de dollars
iglo	33.1%	301 millions de dollars

Installations de fabrication

Nomad Foods exploite des installations de fabrication dans:

• Royaume-Uni
• Italie
• Suède
• Allemagne
• Pays-Bas

Pays	Nombre d'installations	Capacité de production (tonnes / an)
Royaume-Uni	3	125,000
Italie	2	85,000
Suède	1	45,000
Allemagne	2	95,000
Pays-Bas	1	35,000

Équipe de direction

Leadership Nomad Foods:

• Stefan Descheemaeker (PDG)
• Sven Marzahn (CFO)
• Expérience exécutive moyenne: 18 ans

Technologie de transformation des aliments

Investissements technologiques en 2023:

• Dépenses de R&D: 24,5 millions de dollars
• Lignes de production automatisées: 87%
• Systèmes de contrôle de la qualité AI: 5 installations

Réseaux de distribution

Réalisation de la distribution:

• Magasins de détail couverts: 45 000+
• Pays desservis: 16 pays européens
• Partenaires logistiques: 22

Canal de distribution	Pourcentage de ventes
Supermarchés	68%
Dépanneurs	22%
Plateformes en ligne	10%

Nomad Foods Limited (NOMD) - Modèle d'entreprise: propositions de valeur

Options d'aliments congelés pratiques et de haute qualité

Nomad Foods propose 580 millions d'unités alimentaires surgelées chaque année à travers l'Europe. Le portefeuille de produits de la société comprend 10 marques primaires avec une pénétration du marché dans 14 pays européens.

Marque	Part de marché	Unités annuelles vendues
Œil des oiseaux	45%	261 millions
Iglo	35%	203 millions
Findus	20%	116 millions

Solutions de repas nutritifs et abordables

Le prix moyen des produits Nomad Foods se situe entre 2,50 € et 4,50 € par forfait. Les offres nutritionnelles comprennent:

• Repas congelés riches en protéines
• Options à faible calories
• Alternatives végétariennes et végétales

Large gamme de variétés de produits

Les catégories de produits comprennent:

Catégorie	Nombre de produits
Produits à poissons	87
Plats de légumes	65
Alternatives de viande	42

Offres durables et soucieuses de l'environnement

Engagements environnementaux:

• Fish 100% d'origine durable d'ici 2025
• 50% de réduction de l'emballage en plastique d'ici 2030
• Objectifs de fabrication neutres en carbone

Préparation de repas rapide et facile pour les consommateurs

Temps de préparation moyen pour les produits Nomad Foods: 10-15 minutes. Les mesures d'économie de temps des consommateurs démontrent une proposition de valeur significative.

Méthode de préparation	Temps moyen
Micro-ondes	3-5 minutes
Four	12-18 minutes
Bouffée	8-12 minutes

NOMAD FOODS LIMITED (NOMD) - Modèle d'entreprise: relations clients

Engagement numérique via les plateformes de médias sociaux

En 2024, Nomad Foods maintient une présence active sur les réseaux sociaux:

Plate-forme	Nombre de suiveurs	Taux d'engagement
Facebook	87,543	3.2%
Instagram	62,415	4.1%
Gazouillement	45,276	2.7%

Programmes de commentaires et d'amélioration des produits des clients

Mesures de rétroaction des clients pour 2024:

• Réponses totales de commentaires des clients: 24 567
• Taux de modification des produits basé sur les commentaires: 18,3%
• Temps de réponse moyen aux suggestions des clients: 5,2 jours

Programmes de fidélité et campagnes promotionnelles

Type de programme	Inscription	Réduction moyenne
Programme de fidélité	156 890 membres	12%
Campagnes promotionnelles	98 432 participants	15%

Support client en ligne et hors ligne

Performances des canaux de support client:

• Taux de résolution de chat en ligne: 92,4%
• Score de satisfaction du support du téléphone: 88,6%
• Prise en charge du courrier électronique Temps de réponse moyen: 6,3 heures

Communication transparente sur l'approvisionnement des produits

Approvisionnement des mesures de transparence:

Métrique de transparence	Pourcentage
Fournisseurs avec une origine divulguée	94.7%
Engagement d'approvisionnement durable	87.3%
Fournisseurs vérifiés tiers	81.5%

NOMAD FOODS LIMITED (NOMD) - Modèle commercial: canaux

Réseaux de supermarché et d'épicerie

Nomad Foods distribue des produits par le biais de grandes chaînes de vente au détail européennes, avec une présence dans environ 20 pays. Les réseaux de supermarchés clés comprennent:

Pays	Partenaires de vente au détail clés	Pénétration du marché
Royaume-Uni	Tesco, Sainsbury's, Asda	Couverture de 85% d'épicerie
France	Carrefour, Leclerc, Auchan	Couverture de 78% d'épicerie
Allemagne	Edeka, Rewe, Lidl	Couverture de 72% d'épicerie

Plateformes de vente au détail en ligne

Les canaux de vente en ligne représentent 15,6% des revenus totaux de Nomad Foods en 2023.

• Market Amazon
• Ocado
• Héros de livraison
• Plateformes locales de cultivations sur les marchés européens

Canaux de commerce électronique directement

Les ventes en ligne directes représentent 3,2% du total des revenus de l'entreprise.

Plate-forme	Volume des ventes annuelles	Taux de croissance
Site Web de l'entreprise	12,4 millions d'euros	8.7%
Application mobile	5,6 millions d'euros	12.3%

Distribution de gros

Les canaux de gros contribuent 22,5% du total des revenus de l'entreprise.

• Metro Cash & Porter
• Booker en gros
• Distributeurs de gros régionaux

Partenariats de l'industrie des services alimentaires

Le secteur des services alimentaires représente 9,8% des canaux de distribution de Nomad Foods.

Segment	Partenaires clés	Revenus annuels
Restaurants	Groupe de boussole, sodexo	87,3 millions d'euros
Services de restauration	Aramark, groupe Elior	42,6 millions d'euros

NOMAD FOODS LIMITED (NOMD) - Modèle d'entreprise: segments de clientèle

Familles avec enfants

Selon le rapport annuel de Nomad Foods 2022, ce segment représente 42% de leur base de consommation principale. Dépenses du ménage moyen en aliments surgelés: 87,50 $ par mois.

Groupe d'âge	Fréquence d'achat	Dépenses mensuelles moyennes
Parents avec enfants 0-12 ans	2-3 fois par semaine	$112.30
Parents avec des adolescents	1-2 fois par semaine	$95.75

Jeunes professionnels

Les études de marché indiquent que 28% de la clientèle de Nomad Foods comprend de jeunes professionnels âgés de 25 à 35 ans.

• Dépenses alimentaires surgelées moyennes moyennes: 45,60 $
• Préférence pour les repas à préparation rapide: 67%
• Fréquence d'achat en ligne: 3,2 fois par mois

Consommateurs soucieux du budget

Représente 22% des segments de clientèle de Nomad Foods. Attribution du budget mensuel moyen pour les aliments glacés: 65,40 $.

Tranche de revenu	Comportement d'achat	Sensibilité à la réduction
Revenu moyen moyen	Achats en vrac	Élevé (85% répondent aux promotions)
Revenu moyen	Sélections axées sur la valeur	Modéré (65% comparer les prix)

Personnes soucieuses de la santé

8% de la clientèle de Nomad Foods, avec une tendance croissante. Dépenses alimentaires mensuelles moyennes axées sur la santé: 72,90 $.

• Préférence des produits organiques: 45%
• Sélection de repas à faible caloriie: 62%
• Demande d'options glacées riches en protéines: 53%

Clients de recherche de commodité

Représente 18% des segments de clientèle. Dépenses alimentaires mensuelles moyennes: 79,25 $.

Type de client	Temps de préparation des repas	Caractéristiques du produit préféré
Professionnels célibataires	Moins de 10 minutes	Micro-ondes, unique
Familles occupées	15-20 minutes	Taille familiale, multi-portions

NOMAD FOODS LIMITED (NOMD) - Modèle d'entreprise: Structure des coûts

Achat de matières premières

Pour l'exercice 2023, Nomad Foods Limited a déclaré des coûts d'approvisionnement en matières premières de 1,2 milliard de dollars. L'entreprise s'approvisionne en ingrédients principalement de:

Catégorie d'ingrédient	Coût d'achat annuel	Pourcentage du total des matières premières
Légumes surgelés	380 millions de dollars	31.7%
Protéines congelées	420 millions de dollars	35%
Autres ingrédients alimentaires	400 millions de dollars	33.3%

Frais de fabrication et de production

Les dépenses de fabrication totales pour 2023 étaient de 675 millions de dollars, avec la ventilation suivante:

• Coûts opérationnels d'usine: 285 millions de dollars
• Dépenses de main-d'œuvre: 220 millions de dollars
• Entretien de l'équipement: 95 millions de dollars
• Coûts d'énergie et de services publics: 75 millions de dollars

Coûts de marketing et de publicité

Les dépenses de marketing pour 2023 ont totalisé 156 millions de dollars, allouées sur divers canaux:

Canal de marketing	Dépenses	Pourcentage du budget marketing
Marketing numérique	62,4 millions de dollars	40%
Publicité télévisée	46,8 millions de dollars	30%
Médias imprimés et extérieurs	31,2 millions de dollars	20%
Campagnes de médias sociaux	15,6 millions de dollars	10%

Distribution et logistique

Les dépenses de distribution pour 2023 s'élevaient à 340 millions de dollars, avec la ventilation détaillée suivante:

• Coûts de transport: 195 millions de dollars
• Opérations d'entrepôt: 85 millions de dollars
• Matériel d'emballage: 60 millions de dollars

Investissements de recherche et développement

Les dépenses de R&D pour 2023 étaient de 78 millions de dollars, axées sur l'innovation et le développement des produits:

Zone de focus R&D	Investissement	Pourcentage du budget de la R&D
Développement de nouveaux produits	39 millions de dollars	50%
Amélioration des processus	23,4 millions de dollars	30%
Recherche nutritionnelle	15,6 millions de dollars	20%

NOMAD FOODS LIMITED (NOMD) - Modèle d'entreprise: Strots de revenus

Ventes au détail de produits alimentaires surgelés

Nomad Foods Limited a généré un chiffre d'affaires total de 2,93 milliards de dollars en 2022. La principale source de revenus de la société provient des ventes au détail de produits alimentaires surgelés à travers l'Europe.

Catégorie de produits	Contribution des revenus
Marque des œil-oiseaux	1,2 milliard de dollars
Marque iglo	850 millions de dollars
Marque Findus	550 millions de dollars

Expansion du marché international

Nomad Foods opère dans 14 pays européens, avec des marchés clés, notamment:

• Royaume-Uni
• Italie
• Pays-Bas
• Allemagne
• France

Diversification des gammes de produits

Le portefeuille de produits de l'entreprise comprend plusieurs catégories:

Catégorie de produits	Part de marché
Poisson surgelé	35%
Légumes surgelés	28%
Repas préparés surgelés	22%
Autres produits surgelés	15%

Fabrication de marque privée

La fabrication de la marque privée a contribué à environ 320 millions de dollars aux revenus de Nomad Foods en 2022.

Canaux de vente en ligne et direct

Canaux de vente numériques représentés 12.5% du total des revenus, s'élevant à environ 366 millions de dollars en 2022.

Canal de vente	Contribution des revenus
Commerce d'épicerie	2,45 milliards de dollars
Plateformes en ligne	366 millions de dollars
Ventes directes	109 millions de dollars

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.