CongeladosAgo. 15, 2020
Proyectan cambio permanente de demanda por productos congelados (en inglés)
The Birds Eye, Iglo and Green Cuisine owner reported that its revenue rose to €683 million in the rst quarter of 2020, a rise of 10.5% compared to the first quarter of 2019. Gross prot increased 4% to €199 million.
The company also upped its earnings estimates for the full year. It now expects EBITDA (earnings before interest, taxes, depreciation and amortization) of €450 to €460 million versus the prior expectation of €440 to €445 million.
Stéfan Descheemaeker, Nomad Foods’ Chief Executive Ocer, told a conference call with investors that frozen food has proven to be one of the fastest-growing and most durable FMCG categories throughout Europe in the past four months.
“First quarter revenues and earnings were signicantly ahead of our expectations due to the unprecedented level of consumer demand for frozen food driven by the COVID-19 pandemic,” he said. “This change in consumer behaviour, which began in early March, has continued into the second quarter with in-home consumption the most meaningful driver. Our organisation has collectively risen to the challenge by ensuring the continuous supply of our products and brands throughout this crisis while prioritising the health and safety of our employees.”
He added that the company’s portfolio, which also includes Findus, Aunt Bessie’s and Goodfella’s, “is concentrated in the sweet spots of the packaged food space, in frozen, branded and retail”.
Noam Gottesman, Nomad Foods’ Co-Chairman and Founder, said consumer sentiment amid the COVID crisis has seen shoppers gravitate towards more familiar, established and well-regarded brands.
“Our business model and supply chain are demonstrating extreme resilience as we all adapt to the current situation. As consumers eat more meals at home and gravitate towards brands they trust, we are addressing a growing need for quality, convenient, and reliable products.”
Full article here
Source: food Navigator/August 7, 2020