Nomad Foods Ltd. (traded as NOMD), a leading UK-based frozen food enterprise, announced a downward revision of its annual forecasts on Thursday due to a temporary disruption in its ERP system.
According to Stefan Descheemaeker, CEO of Nomad Foods, "During the ERP transition, we experienced a decline in service levels, although we are now approaching near-normal operations. This setback has necessitated a revision of our organic sales growth projections for the full year."
For the entire fiscal year, Nomad Foods now anticipates an adjusted income per share ranging from 1.72 to 1.77 euros, a decline from the previous estimate of 1.75 to 1.80 euros.
Additionally, the company predicts a 3 to 5 percent increase in adjusted EBITDA, in contrast to the prior expectation of a 4 to 6 percent growth.
Organic revenue growth is projected to be between 1 and 2 percent, down from the previously guided 3 to 4 percent.
