Nomad Foods chief executive Stéfan Descheemaeker has insisted the company is “making progress” on profit initiatives, after the company revealed a slow summer had knocked earnings by 14.2%.
A trading update for Q3 2025 revealed the company had lost 2.2% of its revenue compared to the prior year, as a slip in volumes of 0.5% came alongside unfavourable product mix and lower prices.
Adjusted EBITDA fell €23.6m (£20.8m) to €142.7m (£125.6m) in the three months to 30 September 2025, as slower sales were met with supply chain cost inflation and adjusted gross margin fell 4.2 points to 28.1%.
Descheemaeker said the results were in line with expectations, as Nomad faced into headwinds including hot July weather and weak demand in the UK that had offset the company’s “strong performance” in growth platforms.
“Importantly, we are making progress towards driving improvement. The category weakness we saw this summer has proven transitory and we are pleased that growth returned to healthy levels by the end of the quarter. We are seeing similar improvement in our retail sell-through growth in the UK where our business has recently stabilized.
“Looking forward, our pipeline of innovation and renovation initiatives is robust, 2026 price increases have been communicated to the trade and the increased efficiency programme we announced in September remains on track. We have more work to do, but I am encouraged by the progress we are making.”
Nomad has maintained its full-year guidance, though reported it expected results to fall at the lower end of estimates: as such, organic revenue is now expected to fall nearly 2%, with adjusted EBITDA approaching a fall of 7%.
Nomad Foods co-chairman and founder Noam Gottesman said notwithstanding the “challenging” results of 2025, he was encouraged by the underlying fundamentals of the business and several strategic initiatives ahead of Descheemaeker’s succession by incoming CEO Dominic Brisby in January.
“The company has fantastic brands in a resilient category and has already made substantial investments to lay the groundwork for improved performance next year,” said Gottesman.
“As we enter 2026, we will welcome a new CEO, Dominic Brisby, and I am confident in his ability to make a strong impact. We believe Dominic is positioned for success, and we are confident he has the appropriate foundation, resources and skillset to revitalize our growth engine and drive significant value creation.
“I believe the equity market is meaningfully undervaluing Nomad Foods, and I am excited to see Dominic unlock that value and deliver improved results starting next year.”
Brisby joined Nomad’s board of directors on 3 November, and will work with Descheemaeker until his retirement on 1 January.
He most recently served as president of North America and Europe at Flora Food Group, where he oversaw the company taking its largest-ever share of the NA market. In Europe, Brisby developed a strategy that enabled reinvestment in product innovation and brand relaunches to better align with consumer preferences.
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