Mission Statement, Vision, & Core Values (2024) of Nomad Foods Limited (NOMD)

An Overview of Nomad Foods Limited (NOMD)

General Summary of Nomad Foods Limited

Nomad Foods Limited (NOMD) is a prominent player in the frozen food sector, established in 2014 through the acquisition of the Findus Group. The company specializes in the production and distribution of frozen food products across Europe, with a diverse portfolio that includes brand names like Birds Eye, Aunt Bessie’s, and iglo. As of 2024, Nomad Foods markets its products in 18 countries and operates several manufacturing facilities, which allow for efficient supply chain management.

In 2024, Nomad Foods reported sales figures that reached approximately €2.2 billion, showcasing the strength of its brand portfolio and market reach. The company continues to focus on innovation in product development, particularly in the realms of plant-based offerings and ready-to-eat meal solutions.

Company's Financial Performance in Latest Financial Reports

In the latest financial report for the year ending 2023, Nomad Foods demonstrated a robust financial performance with notable highlights:

• Revenue: Record revenue of €2.2 billion, marking a 7% year-on-year increase.
• Net Income: Achieved €170 million, reflecting a significant growth of 9%.
• EBITDA: Reported EBITDA of €400 million, with a margin of 18%.
• Dividend Per Share: Increased to €0.54, reinforcing the company’s commitment to returning value to shareholders.

Key drivers of this performance included:

• Strong sales in the frozen food segment, particularly from plant-based products.
• Expansion into new markets, especially in Central and Eastern Europe.
• Increased consumer demand for convenient and healthy meal solutions.

Introduction to Nomad Foods Limited as a Leader in the Industry

Nomad Foods Limited stands out as a leader in the frozen food industry due to its dedicated focus on innovation, quality, and sustainability. The company's strategic initiatives have positioned it as a trendsetter, particularly in the growing demand for frozen plant-based products. Industry analysts recognize Nomad Foods for its agile response to changing consumer preferences, which has allowed it to capture significant market share.

As of 2024, Nomad Foods holds a leading market position in several key categories, including:

• Frozen Vegetables: 20% market share in Europe.
• Frozen Meals: 15% market share in the UK.
• Plant-Based Products: 10% market share across Europe, showing strong growth potential.

To understand why Nomad Foods is a successful company in the frozen food sector, readers are encouraged to explore further information regarding the company's strategic initiatives and market performance.

Mission Statement of Nomad Foods Limited (NOMD)

Mission Statement Overview

The mission statement of Nomad Foods Limited (NOMD) is pivotal for defining the company's purpose and core focus in the frozen food sector. It guides the organization in making strategic decisions, ensuring alignment with long-term goals, and enhancing operational performance. As of 2023, the mission statement emphasizes delivering high-quality, innovative frozen food products that meet consumer needs while promoting sustainability in sourcing and production.

High-Quality Products

One of the core components of Nomad Foods' mission is its commitment to providing high-quality products. The company prioritizes the use of quality ingredients, rigorously testing and sourcing them to ensure that they meet stringent food safety standards.

• In 2022, Nomad Foods achieved a 95% satisfaction rate among consumers regarding product quality, as reported in its annual customer feedback survey.
• The company invests approximately €35 million annually in research and development to continually enhance product quality and innovation.

For example, Nomad Foods' Birds Eye brand has consistently been recognized for its premium frozen vegetables, winning multiple awards for quality in 2023 alone.

Innovation

Innovation is another critical element of Nomad Foods' mission. The company strives to adapt to changing consumer preferences by introducing new and exciting products. This strategy not only keeps the brand relevant but also expands its market share.

• In 2022, Nomad Foods launched over 30 new products across its various brands, contributing to an overall revenue growth of 9.5% year-over-year.
• The company’s investment in technology and processes amounts to approximately €20 million, which enhances product development capabilities.

Recent innovations include the introduction of plant-based offerings in 2023, which saw a sales increase of 15% in the frozen food plant-based segment.

Sustainability

Sustainability is a fundamental aspect of Nomad Foods' mission statement, reflecting the company's dedication to environmental stewardship. The organization incorporates sustainable practices across its supply chain to minimize its impact on the environment.

• According to the 2023 Sustainability Report, 50% of Nomad Foods' packaging is now recyclable or reusable, surpassing their 2022 target.
• The company aims to reduce greenhouse gas emissions by 30% by 2030, which aligns with the global commitment to climate action.

Nomad Foods has partnered with various environmental organizations to enhance its sustainability initiatives, resulting in a 20% reduction in water usage in production facilities as of 2022.

Vision Statement of Nomad Foods Limited (NOMD)

Vision of Nomad Foods Limited

The vision statement of Nomad Foods Limited (NOMD) aims to outline the company's aspirations and projected future developments as of 2024. This comprehensive vision emphasizes sustainability, growth, and customer satisfaction in the frozen food sector.

Commitment to Sustainability

Nomad Foods focuses on sustainable sourcing and environmental responsibility in all aspects of its operations. The company aims to source 100% of its fish and seafood from certified sustainable fisheries by 2025, aligned with the Marine Stewardship Council (MSC) standards.

• 2023 Percentage of sustainable seafood: 90%
• Expected increase in sustainable sourcing by 2024: 10%

Innovative Product Development

Innovation is a key pillar in the vision of Nomad Foods. By 2024, the company plans to launch a series of new products aimed at addressing consumer health trends, including:

• Healthy frozen meal options: Target of 15 new SKUs (Stock Keeping Units) by end of 2024.
• Plant-based product line: Aiming for a 25% increase in sales from plant-based options.

Customer-Centric Approach

Nomad Foods strives to enhance customer experiences through engagement and satisfaction surveys, with a target of achieving a customer satisfaction rate of 95% by 2024.

Global Market Expansion

Nomad Foods is focused on expanding its footprint in key international markets. The company targets a revenue growth of 10% to 15% in new geographic regions by 2024.

• Targeted regions for expansion: Eastern Europe, North America.
• Projected revenue from new markets: £200 million by 2024.

Commitment to Quality

Ensuring quality across all products is embedded in the vision of Nomad Foods. The company aims to maintain the highest production standards, with a target of 0.5% or lower in product quality complaints by 2024.

Employee Engagement and Development

Nomad Foods aims to be an employer of choice by cultivating a positive workplace culture. The target is to achieve an employee engagement score of 85% by 2024.

• 2023 Employee Engagement Score: 80%
• Year-on-year target increase: 5%

Core Values of Nomad Foods Limited (NOMD)

Integrity

Integrity is the cornerstone of Nomad Foods Limited's corporate ethos. It underscores the importance of honesty and transparency in all interactions, whether with consumers, partners, or employees.

Nomad Foods has demonstrated its commitment to integrity through various actions, including:

• Adhering to strict regulatory compliance standards, ensuring that 100% of its products meet food safety regulations.
• Implementing a robust whistleblower policy that protects employees who report unethical behavior. In 2023, the company reported a 15% increase in employee engagement in ethical reporting initiatives.
• Publishing annual sustainability reports that detail progress on environmental and social governance (ESG) metrics, with the latest report featuring a 20% reduction in carbon emissions since 2020.

Innovation

Innovation drives Nomad Foods towards creating new products and improving existing offerings. It is crucial for maintaining competitive advantage in the fast-moving consumer goods sector.

Examples of Nomad Foods' commitment to innovation include:

• Investing €40 million in R&D in 2023, focusing on healthier frozen food options in response to consumer trends.
• Launching over 25 new products in 2024, including plant-based meal options that cater to the increasing demand for sustainable foods.
• Implementing advanced data analytics in supply chain management, resulting in a 30% increase in operational efficiency as reported in Q2 2024.

Sustainability

Sustainability reflects Nomad Foods' responsibility to the environment and communities in which it operates. The company aims to minimize its footprint while promoting sustainable practices.

Key initiatives supporting sustainability efforts include:

• Achieving a 100% recyclable or reusable packaging goal by 2025, with 70% of packaging already meeting this criterion as of 2024.
• Partnering with local farmers to source ingredients sustainably, which has decreased transportation emissions by 25% in the past year.
• Investing €15 million in community-based environmental projects, positively impacting over 50 local communities in 2023.

Quality

Quality embodies Nomad Foods’ commitment to delivering the best products to its consumers. It emphasizes the need for continuous improvement in product standards and customer satisfaction.

Demonstrations of this commitment to quality include:

• Receiving a 95% customer satisfaction rating in recent consumer surveys conducted in Q1 2024.
• Implementing a comprehensive supplier quality assurance program that has led to a 20% reduction in product recalls since 2022.
• Establishing a quality control lab that tests 100% of raw materials, ensuring they meet the highest safety and quality standards.

Collaboration

Collaboration emphasizes the value of teamwork and partnerships in achieving common goals. Nomad Foods believes that working together yields better results.

Examples of collaboration in action include:

• Forming strategic alliances with 10 key suppliers to enhance supply chain resilience, which contributed to a 15% reduction in lead times by the end of 2023.
• Conducting regular cross-functional workshops that foster innovation, resulting in a 30% increase in new project proposals in 2024.
• Engaging with over 1,500 consumers in various feedback initiatives, improving product development processes by integrating direct consumer insights.