Nomad Foods Limited (NYSE:NOMD) Q4 2023 Earnings Call Transcript

So, just focusing on this example of fish and chips, we’re going to do it in Switzerland, we’re going to do it in Adriatics. Because people demonstrated that the concept can work. And so, it’s definitely what I would qualify some sort of, let’s say, very low-risk innovation when you think about it, because we’re taking a product that exists in the country, that is very successful. And we’re testing with the other countries adjacent or not and we can move. So, you remove of the innovation process, which unavoidably comes with, let’s say, a certain level of failure and unavoidable, it’s normal. I think we substantially reducing this failure rate with this approach. And as we said, think about it, fantastic assortment in an amazing number of countries.

And then, you can see what the extent of this lift and shift can represent for us.

John Baumgartner: Great. Thanks, Stefan.

Amit Sharma: Thank you, John.

Samy Zekhout: Thank you, John.

Operator: Thank you. Ladies and gentlemen, that concludes our question-and-answer session. I’ll turn the floor back to Mr. Descheemaeker for any final comments.

Stefan Descheemaeker: Thank you very much, operator. So, thank you for your participation on today’s call. 2023 was a good year, and I’m even more pleased with our good momentum as we enter 2024. Nomad Foods team has shown incredible nimbleness and agility in the last two, three years, and I believe that we are now well-prepared to deliver accelerated growth. Our revised long-term growth algo puts us amongst the top-tier of our food peers, which combined with our very attractive valuation, positions us to deliver superior returns for our shareholders. Thank you very much, operator.

Operator: Thank you. This concludes today’s conference call. You may disconnect your lines at this time. Thank you for your participation.