The new boss of Nomad Foods has warned the company has “work to do” to turn around its fortunes, as revenue slipped 2.2% to €3bn (£2.6bn).
The frozen food giant’s pre-tax profits fell 47.7% to €145.3m in the year to 31 December 2025, as €57m in refinancing costs stacked with a 2.5 percentage point drop in gross margins.
While CEO Dominic Brisby, appointed in November, said he saw “a clear path to create tremendous value” amid category tailwinds, he warned the company’s revival would “not be immediate”.
Reporting results today, Nomad Foods forecast further declines in revenue and profit for 2026: the company expects organic revenue to fall by 2%-5% next year, with adjusted EBITDA to fall by 5%-10%.
The forecasted fall in EBITDA would follow 2025’s 7.5% decline to €523m.
Shares in Nomad Foods fell 4.1% to $12.3 following the announcement, which is the latest blow in a poor run on the New York Stock Exchange. Shares have fallen 34.4% in the past year.
Announcing his intention to buy a “sizeable” chunk of the stock as a public vote of confidence in the company’s fortunes, Brisby said there were a number of opportunities to refocus the organisation.
“We continue to streamline the organisation to increase our speed, agility, focus and accountability. We believe this will help us improve our commercial execution while unlocking additional resources for reinvestment,” he said.
“We are also ensuring that the right talent, sourced both internally and externally, is in the right roles to help us succeed. We believe we can and will deliver better results, but we anticipate 2026 being a transition year as our financial outlook reflects the time required to implement and manage change. I am excited to show investors what Nomad Foods is capable of once we see the results of our new approach.”
Founder and co-chairman Noam Gottesman echoed Brisby’s words, saying the team had “a lot of work ahead” but had a solid foundation with which to work.
“The company’s portfolio is strong, category growth is robust and retail sell-out in 2025 delivered modest growth. The opportunity ahead is substantial,” he said.
“Dominic and his team have the board’s full support during this transition year and I am excited to see him unlock significant underappreciated value in Nomad Foods for shareholders.”
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