Birds Eye and Iglo owner Nomad Foods wants to make €200m ($233.1m) in savings by the end of 2028.
The European frozen-foods group is eyeing savings in procurement, logistics and overheads.
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Nomad Foods made the announcement today (3 September) ahead of its management’s appearance at an investor conference in the US and weeks after the company cut its forecasts for annual sales and earnings.
The UK-headquartered business said it has set up an “efficiency programme” designed to generate €200m of “operational savings” across its 2026 to 2028 fiscal years.
Nomad Foods said the savings are expected to be “broad-based” but underlined the largest contribution would come from a “transformation” programme in procurement
The company also wants to improve its “utilisation” of its manufacturing network, cut logistics costs and “unlock overhead efficiencies”.
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By GlobalDataNomad Foods believes the savings will allow the business to make “targeted reinvestments” and “mitigate” pressure from inflation.
CEO Stéfan Descheemaeker said: “While we have faced challenges in 2025, we are proud to have successfully stabilised market share, demonstrating that our commercial flywheel is working.”
Last month, Nomad Foods revised its revenue and adjusted EBITDA forecasts for 2025, citing weaker-than-expected first-half results.
Descheemaeker said at the time 2025 was “proving to be more challenging than expected”.
The business projected its full-year organic revenue will at best be flat in 2025, or, at worst, fall 2%. It had previously forecast a range of flat to up 2%.
Nomad Foods sees its annual adjusted EBITDA declining 3-7%, down from its previous forecast of flat to up 2%.
The company said today it is targeting “compound annual adjusted EBITDA growth” of 1-3% over the 2026 to 2028 period.
It is not guiding to specific revenue targets but is aiming to grow organic sales in-line with the European frozen category. Citing GlobalData, Nomad Foods said the market had “historically grown sales in a low-single-digit range”.
