Nomad Foods Limited (NOMD) 6-K 10 Aug 22 Nomad Foods Reports Second Quarter 2022 Financial Results Financial data

Cover

Cover	6 Months Ended
	Jun. 30, 2022
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Registrant Name	Nomad Foods Ltd.
Entity Central Index Key	0001651717
Current Fiscal Year End Date	--12-31

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Interim Statements of Financial Position - EUR (€) € in Millions	Jun. 30, 2022	Dec. 31, 2021
Non-current assets
Goodwill	€ 2,101.5	€ 2,099.4
Intangibles	2,460	2,455.7
Property, plant and equipment	541.5	549.4
Other non-current assets	8.4	8.9
Derivative financial instruments	76.7	0
Deferred tax assets	118.5	128.3
Total non-current assets	5,306.6	5,241.7
Current assets
Cash and cash equivalents	221	254.2
Inventories	472.2	410.6
Trade and other receivables	348.3	234.6
Indemnification assets	1.8	9.5
Derivative financial instruments	38.2	20.2
Total current assets	1,081.5	929.1
Total assets	6,388.1	6,170.8
Current liabilities
Trade and other payables	731.1	692
Current tax payable	214.6	198.5
Provisions	37.5	39.3
Loans and borrowings	30.2	29.1
Derivative financial instruments	1.3	7.3
Total current liabilities	1,014.7	966.2
Non-current liabilities
Loans and borrowings	2,254.5	2,198.3
Employee benefits	159.3	244.2
Other non-current liabilities	1.5	1.8
Provisions	3.3	2.9
Derivative financial instruments	0.2	20.8
Deferred tax liabilities	464.2	437.6
Total non-current liabilities	2,883	2,905.6
Total liabilities	3,897.7	3,871.8
Net assets	2,490.4	2,299
Equity attributable to equity holders
Share capital and capital reserve	1,598.1	1,623.1
Share based compensation reserve	10.4	6.9
Founder Preferred Shares Dividend reserve	166	166
Translation reserve	100.4	105.1
Other reserves	38.5	10.5
Retained earnings	577	387.4
Equity attributable to owners of parent	€ 2,490.4	€ 2,299

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Interim Statements of Profit or Loss - EUR (€) € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Profit or loss [abstract]
Revenue	€ 697	€ 595.8	€ 1,429.9	€ 1,303.2
Cost of sales	(500.2)	(412.2)	(1,028.4)	(906.8)
Gross profit	196.8	183.6	401.5	396.4
Other operating expenses	(96.1)	(79.1)	(194.2)	(177.1)
Exceptional items	12.7	(4.3)	(6.3)	(15.1)
Operating profit	113.4	100.2	201	204.2
Finance income	2.7	0	3.6	0
Finance costs	(18.8)	(35.1)	(34.3)	(75.4)
Net financing costs	(16.1)	(35.1)	(30.7)	(75.4)
Profit before tax	97.3	65.1	170.3	128.8
Taxation	(22.7)	(13.9)	(39.7)	(28.3)
Profit for the period	€ 74.6	€ 51.2	€ 130.6	€ 100.5
Basic earnings per share	€ 0.43	€ 0.29	€ 0.75	€ 0.56
Equity owners of the parent	€ 74.6	€ 51.2	€ 130.6	€ 100.5
Earnings per share
Basic and diluted earnings per share (in euros per share)	€ 0.43	€ 0.29	€ 0.75	€ 0.56

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Interim Statements of Comprehensive Income/(Loss) - EUR (€) € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of comprehensive income [abstract]
Profit for the period	€ 74.6	€ 51.2	€ 130.6	€ 100.5
Other comprehensive income:
Actuarial gains on defined benefit pension plans	54.9	3.4	83	27.6
Taxation charge on measurement of defined benefit pension plans	(13.2)	(1.4)	(20.7)	(8.4)
Items not reclassified to the Statement of Profit or Loss	41.7	2	62.3	19.2
(Loss)/gain on investment in foreign subsidiary, net of hedge	(2.4)	(0.2)	(4.7)	6.3
Effective portion of changes in fair value of cash flow hedges and cost of hedging*	42.3	(5.9)	63.2	(0.2)
Taxation charge relating to components of other comprehensive income	(8.8)	(1.7)	(12.9)	(4.9)
Items that may be subsequently reclassified to the Statement of Profit or Loss	31.1	(7.8)	45.6	1.2
Other comprehensive income for the period, net of tax	72.8	(5.8)	107.9	20.4
Total comprehensive income for the period	€ 147.4	€ 45.4	€ 238.5	€ 120.9

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Interim Statements of Changes in Equity - EUR (€) € in Millions	Total	Share capital and capital reserve	Share based compensation reserve	Founder preferred shares dividend reserve	Translation reserve	Other reserves	Retained earnings	Total equity
Equity attributable to owners of the parent (restated)		€ 1,620.5	€ 8.3	€ 245.5	€ 86.3	€ (26.1)	€ 191.6	€ 2,126.1
Equity attributable to owners of parent		1,620.5	8.3	245.5	84.7	(24.5)	191.6	2,126.1
Equity | Increase (decrease) due to changes in accounting policy [member]					1.6	(1.6)
Equity attributable to owners of the parent (restated)		1,620.5	8.3	245.5	86.3	(26.1)	191.6	2,126.1
Equity attributable to owners, beginning balance at Dec. 31, 2020		1,620.5	8.3	245.5	84.7	(24.5)	191.6	2,126.1
Equity (Increase (decrease) due to changes in accounting policy [member]) at Dec. 31, 2020					1.6	(1.6)
Equity owners of the parent	€ 100.5						100.5	100.5
Profit for the period	100.5
Other comprehensive (loss)/income for the period	20.4				6.3	(5.1)	19.2	20.4
Total comprehensive income for the period					6.3	(5.1)	119.7	120.9
Deferred hedging losses and costs of hedging transferred to the carrying value of inventory						23.4		23.4
Comprehensive income	120.9
Founder Preferred Shares Annual Dividend Amount		79.5		(79.5)
Increase (Decrease) Through Vesting Of Other Equity Instruments In Share-Based Payment Transactions, Equity		0	1.2					1.2
Issue of ordinary shares		0.1	(0.1)					0
Reduction of issued capital		(10.5)						(10.5)
Share based payment charge			(5.4)				(11.1)	(16.5)
Total transactions with owners, recognized directly in equity		69.1	(4.3)	(79.5)	0	0	(11.1)	(25.8)
Equity attributable to owners, ending balance at Jun. 30, 2021		1,689.6	4	166	92.6	(7.8)	300.2	2,244.6
Equity owners of the parent	100.5						100.5	100.5
Profit for the period	100.5
Other comprehensive (loss)/income for the period	20.4				6.3	(5.1)	19.2	20.4
Equity owners of the parent					6.3	(5.1)	119.7	120.9
Comprehensive income	120.9
Founder Preferred Shares Annual Dividend Amount		79.5		(79.5)
Share based payment charge			(5.4)				(11.1)	(16.5)
Issue of ordinary shares		0.1	(0.1)					0
Repurchase of ordinary shares		10.5						10.5
Total transactions with owners, recognized directly in equity		69.1	(4.3)	(79.5)	0	0	(11.1)	(25.8)
Equity attributable to owners of parent		1,689.6	4	166	92.6	(7.8)	300.2	2,244.6
Equity attributable to owners of parent	2,299	1,623.1	6.9	166	105.1	10.5	387.4	2,299
Equity attributable to owners, beginning balance at Dec. 31, 2021	2,299	1,623.1	6.9	166	105.1	10.5	387.4	2,299
Equity owners of the parent	130.6						130.6	130.6
Profit for the period	130.6
Other comprehensive (loss)/income for the period	107.9				(4.7)	50.3	62.3	107.9
Total comprehensive income for the period		0	0	0	(4.7)	50.3	192.9	238.5
Deferred hedging losses and costs of hedging transferred to the carrying value of inventory						(22.3)		(22.3)
Comprehensive income	238.5
Increase (Decrease) Through Vesting Of Other Equity Instruments In Share-Based Payment Transactions, Equity		1.8	0					1.8
Reduction of issued capital		(26.8)						(26.8)
Share based payment charge			3.9					3.9
Reclassification of awards for settlement of tax liabilities		0	(0.4)				(3.3)	(3.7)
Total transactions with owners, recognized directly in equity		(25)	3.5	0	0	0	(3.3)	(24.8)
Equity attributable to owners, ending balance at Jun. 30, 2022	2,490.4	1,598.1	10.4	166	100.4	38.5	577	2,490.4
Equity owners of the parent	130.6						130.6	130.6
Profit for the period	130.6
Other comprehensive (loss)/income for the period	107.9				(4.7)	50.3	62.3	107.9
Equity owners of the parent		0	0	0	(4.7)	50.3	192.9	238.5
Comprehensive income	238.5
Share based payment charge			3.9					3.9
Repurchase of ordinary shares		26.8						26.8
Reclassification of awards for settlement of tax liabilities		0	(0.4)				(3.3)	(3.7)
Total transactions with owners, recognized directly in equity		(25)	3.5	0	0	0	(3.3)	(24.8)
Equity attributable to owners of parent	€ 2,490.4	€ 1,598.1	€ 10.4	€ 166	€ 100.4	€ 38.5	€ 577	€ 2,490.4

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Interim Statements of Cash Flows - EUR (€) € in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Profit for the period	€ 130.6	€ 100.5
Adjustments for:
Exceptional items	6.3	15.1
Non-cash fair value purchase price adjustment of inventory	0	2.3
Share based payments expense	3.9	1.2
Depreciation and amortization	43.2	33.6
Loss on disposal of property, plant and equipment	0.2	0.2
Net finance costs	30.7	75.4
Taxation	39.7	28.3
Operating cash flow before changes in working capital, provisions and exceptional items	254.6	256.6
(Increase)/decrease in inventories	(75.8)	18.8
(Increase)/decrease in trade and other receivables	(88.6)	19.5
Increase/(decrease) in trade and other payables	38.5	(94.2)
Increase in employee benefits and other provisions	0.1	0.6
Cash generated from operations before tax and exceptional items	128.8	201.3
Cash flows relating to exceptional items	(28.7)	(16.7)
Tax paid	(24.8)	(30.7)
Net cash generated from operating activities	75.3	153.9
Cash flows from investing activities
Business combinations, net of cash acquired	0.6	(0.8)
Purchase of property, plant and equipment and intangibles	(33.9)	(34.2)
Redemption of investments	0	12.7
Cash used in investing activities	(33.3)	(22.3)
Cash flows from financing activities
Repurchase of ordinary shares	(26.8)	(10.5)
Issuance of new loan principal	0	750
Repayment of loan principal	(8.7)	(408.7)
Payments related to shares withheld for taxes	0.7	21.7
Payment of lease liabilities	(12.4)	(9.4)
Payment of financing fees	0	(13.5)
Interest paid	(25.9)	(26.8)
Other financing cash flows	0.8	(1.5)
Net cash (used in)/provided by financing activities	(73.7)	257.9
Net (decrease)/increase in cash and cash equivalents	(31.7)	389.5
Cash and cash equivalents at beginning of period	254.2	382.5
Effect of exchange rate fluctuations	(1.5)	0.1
Cash and cash equivalents at end of period	€ 221	€ 772.1

Cash and cash equivalents

Cash and cash equivalents	6 Months Ended
	Jun. 30, 2022
Subclassifications of assets, liabilities and equities [abstract]
Cash and cash equivalents	Cash and cash equivalents June 30, 2022 December 31, 2021 €m €m Cash and cash equivalents 220.7 254.0 Restricted cash 0.3 0.2 Cash and cash equivalents 221.0 254.2

Founder Preferred Shares Divide

Founder Preferred Shares Dividend Reserve	6 Months Ended
	Jun. 30, 2022
Share Capital, Reserves and Other Equity Interest [Abstract]
Founder Preferred Shares Dividend Reserve	Founder Preferred Shares Dividend Reserve Nomad has issued Founder Preferred Shares to its Founder Entities. Holders of the Founder Preferred Shares are entitled to receive annual dividend amounts subject to certain performance conditions (the “Founder Preferred Shares Annual Dividend Amount”). The Founder Preferred Shares Annual Dividend Amount is structured to provide a dividend based on the future appreciation of the market value of the ordinary shares, thus aligning the interests of the Founders with those of the investors on a long term basis. The Preferred Shares Annual Dividend Amount is determined with reference to the Dividend Determination Period of a financial year, i.e. the last 10 consecutive trading days and calculated as 20% of the increase in the volume weighted average share price of the Company’s ordinary shares across the determination period compared to the highest price previously used in calculating the Founder Preferred Share Annual Dividend Amounts ($25.2127) multiplied by 140,220,619 shares (the “Preferred Share Dividend Equivalent”). As of December 31, 2021, no Founder Preferred Shares Annual Dividend Amount was due, as the average price per ordinary share for the last ten consecutive trading days of the year did not reach the previously achieved 2020 Dividend Price of $25.2127. Accordingly, the balance of the Founder Preferred Shares Dividend Reserve as at June 30, 2022 remained at €166.0 million (December 31, 2021: €166.0 million). The Founder Preferred Shares Annual Dividend Amount is paid for so long as the Founder Preferred Shares remain outstanding. The Founder Preferred Shares automatically convert on the last day of the seventh full financial year following completion of the acquisition of the Iglo Group or upon a change of control, unless in the case of a change of control, the independent Directors determine otherwise.

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	6 Months Ended
	Jun. 30, 2022
Subclassifications of assets, liabilities and equities [abstract]
Summary of Cash and Cash Equivalents	June 30, 2022 December 31, 2021 €m €m Cash and cash equivalents 220.7 254.0 Restricted cash 0.3 0.2 Cash and cash equivalents 221.0 254.2

Cash and cash equivalents (Deta

Cash and cash equivalents (Details) - EUR (€) € in Millions	Jun. 30, 2022	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Cash and cash equivalents	€ 220.7	€ 254
Restricted cash	0.3	0.2
Cash and cash equivalents	€ 221	€ 254.2

Founder Preferred Shares Divi_2

Founder Preferred Shares Dividend Reserve (Details) € in Millions	Dec. 31, 2021 EUR (€) shares
Disclosure of classes of share capital [line items]
Preferred share dividend equivalent (in shares) | shares	140,220,619
Founder Preferred shares | Founder preferred shares dividend reserve
Disclosure of classes of share capital [line items]
Equity | €	€ 166

General information

General information	6 Months Ended
	Jun. 30, 2022
General Information About Financial Statements [Abstract]
General information	General information These unaudited condensed consolidated interim financial statements (“interim financial statements”) as at and for the three and six months ended June 30, 2022 comprise Nomad Foods Limited and its subsidiaries (together referred to as the “Company” or “Nomad”). Nomad Foods Limited (NYSE: NOMD) is Europe's leading frozen foods company. Nomad Foods Limited's (the “Company” or “Nomad”) portfolio of iconic brands, which includes Birds Eye , Findus , iglo , Ledo and Frikom , have been a part of consumers’ meals for generations, standing for great tasting food that is convenient, high quality and nutritious. Nomad Foods is headquartered in the United Kingdom. Additional information may be found at www.nomadfoods.com. The Company’s sales and working capital levels have historically been affected to a limited extent by seasonality. In general, sales volumes for frozen food are slightly higher in colder or winter months and variable production costs and working capital will vary depending on the harvesting and buying periods of seasonal raw materials, in particular vegetable crops. For example, inventory levels typically peak in August to September just after the pea harvest and as a result, more working capital is required during those months. The Fortenova Acquisition in 2021, as disclosed in Note 4, follows a different seasonality to the legacy business, with stronger performance through the summer months from the ice-cream business. Nomad is a company registered in the British Virgin Islands and domiciled for tax in the United Kingdom.

Basis of preparation

Basis of preparation	6 Months Ended
	Jun. 30, 2022
Basis Of Presentation [Abstract]
Basis of preparation	Basis of preparation These unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2022 have been prepared in accordance with International Accounting Standard 34, Interim Financial Reporting, as issued by the IASB and as adopted by the European Union. They do not include all the information required for a complete set of IFRS financial statements. The financial information consolidates the Company and the subsidiaries it controls and includes selected notes to explain events and transactions that are significant to an understanding of the changes in Nomad’s financial position and performance since the last annual consolidated financial statements. Therefore the unaudited condensed consolidated interim financial statements should be read in conjunction with the annual financial statements for the year ended December 31, 2021, which have been prepared in accordance with International Financial Reporting Standards as issued by the IASB and as adopted by the European Union (“IFRS”). These unaudited condensed consolidated interim financial statements were authorized for issue by the Company’s Board of Directors on August 8, 2022. The accounting policies used by management in preparing these condensed consolidated financial statements were the same as those that applied to the consolidated financial statements as at and for the year ended December 31, 2021, except for taxes on income. Taxes on income are accrued based on management's estimate of the average annual effective income tax rate on profits excluding exceptional items, applied to the pre-tax income excluding exceptional items of the period. It also reflects the tax impact of exceptional items accounted for in the period. The preparation of our consolidated interim financial statements requires us to make estimates and assumptions that affect reported amounts of assets, liabilities, revenues, expenses and disclosure of contingent assets and liabilities. We evaluate our estimates on an ongoing basis using our historical experience, as well as other factors we believe appropriate under the circumstances, such as current economic conditions in light of the COVID-19 pandemic, supply chain disruptions, high inflation, as well as the ongoing conflict between Ukraine and Russia. Actual results could differ from these estimates. The Directors have, at the time of approving the financial statements, a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future given the cash funds available and the current forecast cash outflows. Thus, the Company continues to adopt the going concern basis of accounting in preparing the financial statements. Recently Issued and Not Yet Adopted Accounting Pronouncements under IFRS Amendments to IAS 12 - Deferred Tax related to Assets and Liabilities arising from a Single Transaction In May 2021, the International Accounting Standards Board issued targeted amendments to IAS 12, Income Taxes. The amendments are effective for annual periods beginning on or after January 1, 2023, although earlier application is permitted. With a view to reducing diversity in reporting, the amendments will clarify that companies are required to recognize deferred taxes on transactions where both assets and liabilities are recognized, such as with leases and asset retirement (decommissioning) obligations. Based upon our current facts and circumstances, we do not expect our financial performance or disclosure to be materially affected by the application of the amended standard.

Accounting estimates and judgme

Accounting estimates and judgments	6 Months Ended
	Jun. 30, 2022
Accounting Policies, Changes in Accounting Estimates and Errors [Abstract]
Accounting estimates and judgments	Accounting estimates and judgments The preparation of financial statements in accordance with IFRS requires the use of judgment in applying the accounting policies and estimation that affect the reported amounts of assets and liabilities and results. Actual results could differ from those estimates and the financial statements will be impacted by key judgments taken. In preparing the condensed consolidated interim financial statements, the key sources of estimation uncertainty for the interim period ended June 30, 2022, which continues to be the same as those that applied to the consolidated financial statements as at and for the year ended December 31, 2021. Key Judgments Judgments are made in the process of applying accounting policies. Those judgments which are considered key are listed below. a) Business Combinations For business combinations that have a significant effect on the amounts reported in the consolidated financial statements, the Company is required to recognize separately, at the acquisition date, the identifiable assets, liabilities and contingent liabilities acquired or assumed in a business combination at their fair values. This involves judgment over whether intangible assets can be separately identified, the useful economic life of assets and in selecting an appropriate valuation methodology. Furthermore, judgment is applied in allocating business combinations to operating segments, as well as allocating Goodwill to cash generating units. b) Discounts and trade promotions Management use judgment when considering when accruals for discounts and trade promotions can be released. Management makes the judgment based on the principle that accruals are reversed only to the extent that it is highly probable that a significant reversal will not occur. c) Uncertain tax positions Management use judgment when determining whether it is appropriate to accrue for uncertain tax positions and for how long accruals for uncertain tax positions are retained. Management considers tax laws which are in place in making that assessment determining whether it is appropriate to release. d) Cash generating units When performing goodwill impairment testing, management apply judgment to the allocation of goodwill to cash generating units. Management has determined goodwill is monitored at the operating segment level of “Frozen”. e) Operating segments Management apply judgment in determining the Chief Operating Decision Maker (“CODM”), and the nature and extent of the financial information which is reviewed by the CODM. Management have considered how resources are allocated in determining the single reporting and operating segment of “Frozen”. Please refer to Note 5 for further information. Significant estimates Information about estimates and assumptions that have significant effects on the amounts reported in the consolidated financial statements are listed below. In forming these estimates, management have taken into account the impact and potential future impact of COVID-19, supply chain disruptions, high inflation as well as the ongoing conflict between Ukraine and Russia. Management will continue to assess the impact of future developments in relation to these matters as it relates to estimates, especially around the carrying value of goodwill, brands and other intangibles, as well as on property, plant and equipment. In particular, management will focus on the impact of a long-term conflict in Ukraine. While we do not have any direct operations or sales in either Russia or Ukraine, these countries are responsible for many commonly used raw materials and resources such as fish, edible oils, wheat and energy. The ongoing conflict and economic sanctions could see considerable reductions in the availability or increase in cost of such raw materials and resources. At this time it is not possible to predict the extent or nature of these impacts on our business although we expect the current conflict to continue for some time. In addition, management continue to focus on the long-term impact of COVID-19 on the food service customer relationship intangible assets. a) Discounts and trade promotions Discounts given by the Company include rebates, price reductions and incentives given to customers, promotional couponing and trade communication costs. Each customer has bespoke agreements that are governed by a combination of observable and unobservable performance conditions. Trade promotions comprise of amounts paid to retailers for programs designed to promote Company products and include pricing allowances, merchandising funds and customer coupons, which are offered through various programs to customers and consumers. The ultimate costs of these programs can depend upon retailer performance and is the subject of significant management estimates. The estimated ultimate cost of the program is based upon the programs offered, timing of those offers, estimated retailer performance based on history, management’s experience and current economic trends. At each financial year end date, any discount or trade promotion incurred but not yet invoiced is estimated and accrued for. In certain cases, the estimate for discounts and trade promotions requires the use of forecast information for future trading periods and therefore a degree of estimation uncertainty exists. These estimates are sensitive to variances between actual results and forecasts. The estimate is based on accumulated experience. The accruals are presented as ‘trade terms’ and offset against trade receivables due to the same customer, or as trade term payables where there is no receivable to be offset. The balance of the reduction in trade receivables for trade terms as of June 30, 2022 is disclosed in Note 12. b) Business combinations The Company is required to recognize separately, at the acquisition date, the identifiable assets, liabilities and contingent liabilities acquired or assumed in a business combination at their fair values. This involves an estimate of fair value of all assets and liabilities acquired. Such estimates are based on valuation techniques, which require considerable estimation in forecasting future cash flows and developing other assumptions. These estimates are based on information available on the acquisition date and assumptions that have been deemed reasonable by management. The following estimates and assumptions can materially affect our financial position and profit: • The fair value and expected useful economic life of acquired intangible and tangible assets that are subject to depreciation or amortization in future periods. • Future changes to the assumptions over forecast future profitability used in estimating the value of intangible assets and goodwill may result in additional expenses or income. • Future changes to the assumptions used in estimating the value of uncertain tax positions may result in additional expenses or income. c) Carrying value of goodwill and brands Determining whether goodwill and brands are impaired requires an estimation of the value in use of the cash generating unit to which goodwill and brands have been allocated. The value in use calculation requires the entity to estimate the future cash flows expected to arise from the cash generating unit and a suitable discount rate in order to calculate present value. Future cash flows for the purposes of the value in use calculation are taken from approved budgets. d) Employee benefit obligation The Group operates a number of defined benefit pension schemes and post-employment benefit schemes which are valued by estimating the amount of future benefit that employees have earned in return for their service in the current and prior periods. Each scheme has an actuarial valuation performed by a specialist third party and is dependent on a series of assumptions which are estimated by management. See Note 14 for details of material changes, if any, to assumptions since December 31, 2021. e) Uncertain tax positions Where tax exposures can be quantified, an accrual for uncertain tax positions is based on the Group's judgment of the most likely amount of the liability expected to be paid to the relevant tax authority; or, when there is a wide range of possible outcomes, a probability weighted average approach. Given the inherent uncertainties in assessing the outcomes of these exposures, the Company could in future periods experience adjustments to these accruals. The factors considered in estimating the accrual include the progress of discussions with the tax authorities, the complexity of respective tax legislation, valuations of assets for tax purposes and the level of documentary support for historical positions taken by previous owners. The accruals are made on the basis of a weighted average of potential outcomes. f) Fair value of derivative financial instruments Note 12 includes details of the fair value of the derivative instruments that the Company holds at each balance sheet period. Management has estimated the fair value of these instruments by using valuations based on discounted cash flow calculations. These inputs may be readily observable, market corroborated, or generally unobservable inputs and are further discussed in Note 12.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2022
Business Combinations1 [Abstract]
Acquisitions	Acquisitions Fortenova Group's Frozen Food Business Group On September 30, 2021, the Company announced the completion of the acquisition of the Fortenova Group’s Frozen Food Business Group (FFBG) for consideration of €641.6 million. FFBG is a leading European frozen food portfolio operating in attractive markets new to Nomad, including Croatia, Serbia, Bosnia & Herzegovina, Hungary, Slovenia, Kosovo, North Macedonia and Montenegro. Its two anchor brands, Ledo and Frikom, have unparalleled consumer awareness and number one market share in many of these markets and offer a broad range of frozen food products including fish, fruits, vegetables, ready meals, pastry and ice cream. The consideration includes cash paid as well as contingent consideration due which has been reassessed in the period, which has increased the overall consideration by €1.5 million compared to that reported as at December 31, 2021, with a corresponding reduction in goodwill. Contingent consideration remaining is payable on the recovery of some ringfenced assets and has been recognized to the extent management believes they will be recoverable. The preliminary assessment of the values over the assets and liabilities at the date of acquisition and the consideration paid is as follows: September 30, 2021 €m Assets: Intangible assets 301.9 Tangible assets 95.0 Trade and other receivables 71.7 Cash 43.6 Inventories 46.9 Deferred taxes 14.8 Total assets 573.9 Liabilities: Current liabilities 62.1 Non-current liabilities 16.6 Deferred taxes 47.7 Total liabilities 126.4 Total identifiable net assets acquired 447.5 Total purchase consideration 641.6 Total identifiable net assets acquired (447.5) Goodwill 194.1 The preliminary goodwill recognized on acquisition is €194.1 million . The goodwill recognized is attributable mainly to the growth prospects for the business expected organically and operational synergies. If new information obtained within one year of the date of acquisition about facts and circumstances that existed at the date of acquisition is identified, then the accounting for the acquisition will be revised. €m Balance at January 1, 2022 9.5 Release of indemnification asset (7.7) Balance at June 30, 2022 1.8 The indemnification asset included €7.0 million as of December 31, 2021, related to the acquisition of the Findus Group in 2015, which was backed primarily by shares that were held in escrow. The shares placed in escrow were released in stages over a four-year period which began in January 2019. In January 2022, the remaining 342,190 shares were released from escrow. As a consequence, the associated indemnification asset has been released in full. The corresponding charge has been recognized within exceptional items in Note 6. The indemnification asset included €2.5 million as of December 31, 2021, related to the Goodfella’s Pizza acquisition for several contingent liabilities that arose prior to acquisition and were recognized in the balance sheet to the same extent as the asset. During 2022, €0.7 million has been released against the liabilities.

Exceptional items

Exceptional items	6 Months Ended
	Jun. 30, 2022
Analysis of income and expense [abstract]
Exceptional items	Exceptional items For the three months ended June 30, For the six months ended June 30, 2022 2021 2022 2021 €m €m €m €m Business Transformation program (1) 8.7 2.4 14.2 3.4 Findus Switzerland integration costs (2) 2.9 1.6 5.0 2.4 Fortenova Acquisition integration costs (3) 1.5 — 3.5 — Release of indemnification assets (4) — — 7.0 5.0 Brexit (5) — 1.1 — 4.3 Information Technology Transformation program (6) 0.7 — 2.9 — Settlement of legacy matters (7) (27.9) (1.8) (27.9) (1.8) Factory optimization (8) 1.4 1.0 1.6 1.8 Total exceptional items (12.7) 4.3 6.3 15.1 We do not consider these items to be indicative of our ongoing operating performance. (1) Business Transformation program In 2020, the Company launched the first phase of a multi-year, enterprise-wide transformation and optimization program. Over the next few years, additional transformation phases will be implemented. The program aims to standardize, simplify and automate end-to-end business processes. This will enable key decision making and analytical capability, building a platform and organization to support future growth and provide better value for shareholders. Execution of the business transformation program will include the evaluation and implementation of a new ERP system. Expenses incurred to date consist of restructuring and transformational project costs, including business transformation initiative costs and related professional fees. (2) Findus Switzerland integration costs The Company completed the acquisition of Findus Switzerland on December 31, 2020, following which the Company commenced an integration project which is expected to complete in 2022. Integration expenses incurred and to be incurred in the future relate to external consultancy costs, organizational structure alignment to Nomad design and roll-out of the Nomad ERP system (3) Fortenova Acquisition integration costs As disclosed in Note 4, the Company completed the acquisition of the Fortenova Group’s Frozen Food Business Group on September 30, 2021, following which the Company began a three year integration project. Integration expenses incurred relate to external consultancy costs, organizational structure alignment to Nomad design, systems configuration and roll-out of our controls environment to the acquired business. (4) Release of indemnification assets The charges for the release of indemnification assets relates to the release of shares held in escrow associated with the acquisition of the Findus Group in 2015 as discussed in Note 11. (5) Brexit As part of the process of the United Kingdom exiting the European Union, commonly referred to as Brexit, the Company has incurred expenses to prepare for, and respond to, changes impacting our supply chain. Whilst an agreement with the EU was reached on December 24, 2020, border control processes remain in a period of transition. Expenses in 2021 relate to project costs and the write-off of system development costs no longer required due to changes in regulation and the Company's approach to handling Brexit-related logistics issues. (6) Information Technology Transformation program In 2021, the Company launched a program to transform the Information Technology (“IT”) operating model, specifically to modernize the end-to-end technology estate to support current and future complex and evolving business needs driven by acquisitions and organic growth. Among the many changes being made, the program moves our operating model to a cloud-hosted solution, which better deploys new services to the business and end user, including application management, supporting a diverse workforce across multiple locations and languages, as well as deploying artificial Intelligence assisted tools. Other key components of the program include the Company’s cyber security services to adapt to rapidly changing threats and a change of IT service partners to enable one-off renovation and uplift of capabilities across the business. (7) Settlement of legacy matters In April 2022, the Company received favorable rulings on a series of registration tax claims in relation to an acquisition in 2010, prior to the formation of the Company in 2014. As a result, the Company expects to receive a refund of the payments made in 2013 and 2018 in addition to interest. Income has been recognized net of associated professional fees. (8) Factory optimization In 2018, the Company initiated a three-year factory optimization program. The focus of the program is to develop a new suite of standard manufacturing and supply chain processes, that will provide a single network of optimized factories. The program is expected to provide a number of benefits, including an optimized supply chain infrastructure, benefits derived from the implementation of a standardized global manufacturing and planning processes, and an increased level of sustainable performance improvement. Due to delays in delivering the program across the Nomad manufacturing portfolio due to various government lockdowns and travel bans, the project has been extended for an additional year through 2022. Tax impact of exceptional items T he tax impact of the exceptional items for the three months ended June 30, 2022 amounted to a charge of €4.9 million (2021: credit of €0.7 million) and a charge of €2.6 million for the six months ended June 30, 2022 (2021: credit of €1.9 million). Cash flow impact of exceptional items Included in the Condensed Consolidated Interim Statements of Cash Flows for the six months ended June 30, 2022 is €28.7 million (2021: €16.7 million) of cash outflows relating to exceptional items. This includes cash flows related to the above items in addition to the cash impact of the settlement of assets and liabilities brought forward from previous accounting periods.

Finance income and costs

Finance income and costs	6 Months Ended
	Jun. 30, 2022
Analysis of income and expense [abstract]
Finance income and costs	Finance income and costs For the three months ended June 30, For the six months ended June 30, 2022 2021 2022 2021 €m €m €m €m Finance income Net foreign exchange gains on translation of financial assets and liabilities 2.7 — 3.6 — Total finance income 2.7 — 3.6 — Interest expense (a) (14.4) (14.2) (28.7) (27.6) Net impairment loss on short term investments — — — (12.4) Net foreign exchange losses arising on translation of financial assets and liabilities — (0.5) — (12.1) Net pension interest costs (0.7) (0.4) (1.4) (0.8) Amortization of borrowing costs (0.5) (0.5) (1.0) (1.0) Net fair value losses on derivatives held at fair value through profit or loss (3.2) (1.6) (3.2) (3.6) Financing costs incurred on new or amended debt (b) — (17.9) — (17.9) Total finance costs (18.8) (35.1) (34.3) (75.4) Net finance costs (16.1) (35.1) (30.7) (75.4)

Taxation

Taxation	6 Months Ended
	Jun. 30, 2022
Income Taxes [Abstract]
Taxation	Taxation Income tax expense of €22.7 million for the three months ended June 30, 2022 (2021: €13.9 million) and €39.7 million for the six months ended June 30, 2022 (2021: €28.3 million) is accrued based on management’s estimate of the average annual effective income tax rate on profits excluding exceptional items, applied to the pre-tax income excluding exceptional items of the periods. This estimate takes into account the reduction in provisions due to resolution of certain pre-acquisition risks previously covered by escrow. It also reflects the tax impact of exceptional items accounted for in the periods. The UK government announced an increase in the statutory rate of corporation tax from 19% to 25% with effect from April 1, 2023, which was substantively enacted on May 24, 2021. The increase was enacted in the second quarter of 2021 and the impact on deferred tax assets and liabilities was accounted for accordingly. The Company’s subsidiaries, which are subject to tax, operate in many different jurisdictions and, in some of these, certain tax matters are under discussion with local tax authorities. These discussions are often complex and can take many years to resolve. Accruals for tax contingencies require management to make estimates and judgments with respect to the ultimate outcome of a tax audit, and actual results could vary from these estimates. Where tax exposures can be quantified, a provision is made based on best estimates and management’s judgment. Given the inherent uncertainties in assessing the outcomes of these exposures (which can sometimes be binary in nature), the Company could in future periods experience adjustments to this provision. Management believes that the Company’s tax position on all open matters, including those in current discussion with local tax authorities, is robust and that the Company is appropriately provided.

Earnings per share

Earnings per share	6 Months Ended
	Jun. 30, 2022
Earnings per share [abstract]
Earnings per share	Earnings per share For the three months ended June 30, For the six months ended June 30, 2022 2021 2022 2021 Basic earnings per share Profit for the period attributable to equity owners of the parent (€m) 74.6 51.2 130.6 100.5 Weighted average Ordinary Shares and Founder Preferred Shares (basic) in millions 174.1 177.8 174.3 178.0 Basic earnings per share € 0.43 € 0.29 € 0.75 € 0.56 For the three months and six months period ended June 30, 2022, the number of shares in both the diluted and basic earnings per share calculation has been adjusted to include shares that the Company is obligated to issue in future periods, including 24,759 shares to be issued under the 2021 Non-Executive Restricted Stock Awards in July 2022, as well as 25,655 shares to be issued under the Company's Amended and Restated Long Term 2018 Incentive Plan ("LTIP") in 2023 as performance conditions have been met. Refer to Note 15 for further details. There is no adjustment to the profit for the period attributable to equity owners of the parent. For the three months ended June 30, For the six months ended June 30, 2022 2021 2022 2021 Diluted earnings per share Profit for the period attributable to equity owners of the parent (€m) 74.6 51.2 130.6 100.5 Weighted average Ordinary Shares and Founder Preferred Shares (diluted) in millions 174.1 177.8 174.3 178.0 Diluted earnings per share € 0.43 € 0.29 € 0.75 € 0.56 The Ordinary Shares that could be issued to settle the Founder Preferred Shares Annual Dividend Amount are potentially dilutive, but as set out in Note 17, the Founder Preferred Shares Annual Dividend Amount is determined with reference to the Dividend Determination Period of a financial year, i.e. the last ten

Indemnification assets

Indemnification assets	6 Months Ended
	Jun. 30, 2022
Business Combinations1 [Abstract]
Indemnification assets	Acquisitions Fortenova Group's Frozen Food Business Group On September 30, 2021, the Company announced the completion of the acquisition of the Fortenova Group’s Frozen Food Business Group (FFBG) for consideration of €641.6 million. FFBG is a leading European frozen food portfolio operating in attractive markets new to Nomad, including Croatia, Serbia, Bosnia & Herzegovina, Hungary, Slovenia, Kosovo, North Macedonia and Montenegro. Its two anchor brands, Ledo and Frikom, have unparalleled consumer awareness and number one market share in many of these markets and offer a broad range of frozen food products including fish, fruits, vegetables, ready meals, pastry and ice cream. The consideration includes cash paid as well as contingent consideration due which has been reassessed in the period, which has increased the overall consideration by €1.5 million compared to that reported as at December 31, 2021, with a corresponding reduction in goodwill. Contingent consideration remaining is payable on the recovery of some ringfenced assets and has been recognized to the extent management believes they will be recoverable. The preliminary assessment of the values over the assets and liabilities at the date of acquisition and the consideration paid is as follows: September 30, 2021 €m Assets: Intangible assets 301.9 Tangible assets 95.0 Trade and other receivables 71.7 Cash 43.6 Inventories 46.9 Deferred taxes 14.8 Total assets 573.9 Liabilities: Current liabilities 62.1 Non-current liabilities 16.6 Deferred taxes 47.7 Total liabilities 126.4 Total identifiable net assets acquired 447.5 Total purchase consideration 641.6 Total identifiable net assets acquired (447.5) Goodwill 194.1 The preliminary goodwill recognized on acquisition is €194.1 million . The goodwill recognized is attributable mainly to the growth prospects for the business expected organically and operational synergies. If new information obtained within one year of the date of acquisition about facts and circumstances that existed at the date of acquisition is identified, then the accounting for the acquisition will be revised. €m Balance at January 1, 2022 9.5 Release of indemnification asset (7.7) Balance at June 30, 2022 1.8 The indemnification asset included €7.0 million as of December 31, 2021, related to the acquisition of the Findus Group in 2015, which was backed primarily by shares that were held in escrow. The shares placed in escrow were released in stages over a four-year period which began in January 2019. In January 2022, the remaining 342,190 shares were released from escrow. As a consequence, the associated indemnification asset has been released in full. The corresponding charge has been recognized within exceptional items in Note 6. The indemnification asset included €2.5 million as of December 31, 2021, related to the Goodfella’s Pizza acquisition for several contingent liabilities that arose prior to acquisition and were recognized in the balance sheet to the same extent as the asset. During 2022, €0.7 million has been released against the liabilities.

Financial instruments

Financial instruments	6 Months Ended
	Jun. 30, 2022
Financial Instruments [Abstract]
Financial instruments	Financial instruments The following table shows the carrying amount of each Statement of Financial Position class split into the relevant category of financial instrument as defined in IFRS 9 “Financial Instruments”. Financial assets at amortized cost Derivatives designated in hedge relationships Financial Total June 30, 2022 €m €m €m €m Assets Derivative financial instruments — 114.9 — 114.9 Trade and other receivables 299.6 — — 299.6 Cash and cash equivalents 221.0 — — 221.0 Liabilities Derivative financial instruments — (1.5) — (1.5) Trade and other payables excluding non-financial liabilities — — (675.1) (675.1) Loans and borrowings — — (2,293.1) (2,293.1) Total 520.6 113.4 (2,968.2) (2,334.2) Trade receivables disclosed in the table above are net of contract liabilities related to discounts and trade marketing expenses of €163.7 million. Loans and borrowings includes €75.4 million relating to lease liabilities and are stated gross of capitalized deferred borrowing costs. Financial assets at amortized cost Derivatives at Derivatives designated in hedge relationships Financial Total December 31, 2021 €m €m €m €m €m Assets Derivative financial instruments — 0.5 19.7 — 20.2 Trade and other receivables 201.6 — — — 201.6 Cash and cash equivalents 254.2 — — — 254.2 Liabilities Derivative financial instruments — (0.1) (28.0) — (28.1) Trade and other payables excluding non-financial liabilities — — — (647.1) (647.1) Loans and borrowings — — — (2,236.8) (2,236.8) Total 455.8 0.4 (8.3) (2,883.9) (2,436.0) Trade receivables disclosed in the table above are net of contract liabilities related to discounts and trade marketing expenses of €189.9 million. Loans and borrowings includes €80.9 million relating to lease liabilities and are stated gross of capitalized deferred borrowing costs. The Company has determined that the carrying amount of trade receivables, trade payables and cash and cash equivalents are a reasonable approximation of fair value. Derivative financial instruments The financial instruments are not traded in an active market and so the fair value of these instruments is determined from the implied forward rate. The valuation technique utilized by the Company maximizes the use of observable market data where it is available. All significant inputs required to fair value the instrument are observable. The Company has classified its derivative financial instruments as level 2 instruments as defined in IFRS 13 “Fair value measurement”. Interest bearing loans and borrowings The fair value of the senior secured notes is determined by reference to price quotations in the active market in which they are traded. They are classified as level 1 instruments. The fair value of the senior loans is calculated by discounting the expected future cash flows at the period end’s prevailing interest rates. They are classified as level 2 instruments. There is no requirement to determine or disclose the fair value of lease liabilities. On June 24, 2021, the Company through its indirect, wholly-owned subsidiary, Nomad Foods Bondco Plc, repaid the €400.0 million 3.25% senior secured notes due 2024 and completed a private offering of €750.0 million aggregate principal amount of 2.5% senior secured notes due June 24, 2028 (the “Notes”). Interest on the Notes accrued from the date of issue and are payable semi-annually in arrears on January 15 and July 15, commencing on January 15, 2022. The Notes are guaranteed on a senior basis by the Company and certain subsidiaries thereof. This transaction was accounted for as an extinguishment of the existing Notes and previously capitalized eligible transaction costs were written-off to the Statement of Comprehensive Income, as disclosed in Note 7. On the new Notes, eligible transaction costs of approximately €4.0 million were capitalized and will be amortized over the life of the debt. On July 9, 2021 the Company announced that Nomad Foods Bondco Plc, an indirect, wholly-owned subsidiary of the Company, completed its private offering of €50.0 million aggregate principal amount of additional 2.5% senior secured notes due 2028, representing a tack-on to the €750.0 million aggregate principal amount of senior secured notes due 2028 issued on June 24, 2021, and issued at a price of €100.75. On June 24, 2021, the Company amended and restated the Senior Facilities Agreement to refinance its existing €553.2 million senior secured term loan facility originally due in May 2024, through a new 7-year term facility due 2028 (the "Senior EUR Loan"), paying interest at a rate equal to the applicable rate plus 2.5%. This transaction was accounted for as an extinguishment of the existing debt and previously capitalized eligible transaction costs were written-off to the Statement of Comprehensive Income, as disclosed in Note 7. On the new Senior EUR Loan, eligible transaction costs of approximately €3.8 million were capitalized and will be amortized over the life of the debt. Under the refinancing, the existing revolving credit facility of €80.0 million due 2023, was also replaced with a new €175.0 million facility (the "Revolving Credit Facility") available until June 2026 with an applicable margin of 2.25% per annum and that includes a leverage ratchet. The Revolving Credit Facility may be utilized to support working capital requirements, including letters of credit and bank guarantees. The structure of the Revolving Credit Facility now also includes a pricing structure linked to environmental impact metrics during the life of the facility, and by doing so demonstrates further commitment to the Company’s sustainability strategy by incorporating ESG target KPIs covering areas of sourcing, packaging and carbon emissions. The Company continues to have outstanding senior USD loans of $906.8 million (€869.6 million) (the “Senior USD Loan”). The Senior USD Loan is repayable in May 2024. The Senior USD Loan requires a repayment of $9.6 million (€9.2 million) in May each year until maturity equivalent to 1.0% of the original issued notional. Furthermore as part of the Senior Loan structure, the Company is additionally required to undertake an annual excess cash flow calculation whereby additional principal could be paid. The Company uses cross currency interest rate swaps (“CCIRS”) to convert its $906.8 million of floating rate Senior USD Loans into €819.1 million of EUR denominated debt with a fixed rate of interest, and designated as a cash flow hedge. On July 29, 2021 the Company extended its CCIRS used to hedge the foreign currency and interest rate risk on the current Senior Secured USD Term Loan from May 2022 to May 2024 to align with the maturity date of the USD Term Loan. As part of the transaction, the EUR fixed rate paid by the Company has been amended and reflected in the underlying interest cost. The transaction is considered to be a substantial modification of the hedging instruments, so that the this is considered to be a new hedging relationship which will give rise to some ineffectiveness in future periods. CCIRS contracts that have previously been used as a net investment hedge of the Company’s investments in Pound Sterling have also been extinguished. A change in fair value of the CCIRS arose as a consequence of the transaction, which the Company has elected to write-off immediately as a cost of extinguishment. The Senior Loans, Senior Secured Notes and any drawn balances of the Revolving Credit Facility are secured with equal ranking against assets of the Company and specified subsidiaries. Fair value Carrying value June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 €m €m €m €m Senior EUR/USD loans 1,342.5 1,360.8 1,417.6 1,355.8 Other external debt 0.1 0.1 0.1 0.1 2028 fixed rate senior secured notes 632.2 802.6 800.0 800.0 Less deferred borrowing costs — — (8.4) (9.4) 1,974.8 2,163.5 2,209.3 2,146.5

Provisions

Provisions	6 Months Ended
	Jun. 30, 2022
Other Provisions, Contingent Liabilities and Contingent Assets [Abstract]
Provisions	Provisions Restructuring Provisions Other Total €m €m €m €m Balance as of January 1, 2022 5.6 7.9 28.7 42.2 Additional provision in the period 0.4 — 1.8 2.2 Release of provision — — (1.3) (1.3) Utilization of provision (1.7) (0.1) (1.2) (3.0) Foreign exchange (0.1) — 0.8 0.7 Balance as of June 30, 2022 4.2 7.8 28.8 40.8 Analysis of total provisions: June 30, 2022 December 31, 2021 Current 37.5 39.3 Non-current 3.3 2.9 Total 40.8 42.2 Updates since December 31, 2021 Restructuring

Employee benefits

Employee benefits	6 Months Ended
	Jun. 30, 2022
Employee Benefits [Abstract]
Employee benefits	Employee benefitsThe Company operates partially funded defined benefit pension plans in Germany and Austria, an unfunded defined benefit pension plan in Sweden and defined benefit indemnity arrangements in Italy and Austria, as well as various contribution plans in other countries. Pension benefits in Switzerland are met via a contract with a collective foundation that offers a fully insured solution to provide a contribution-based cash balance retirement plan, which is classified as a defined benefit plan. In addition, an unfunded post-retirement medical plan is operated in Austria. In Germany and Italy, long term service awards are in operation and various other countries provide other employee benefits. There were no changes in the nature of any schemes in the six months ended June 30, 2022. The total net employee benefit obligations as at June 30, 2022 is as follows: €m Balance as of January 1, 2022 244.2 Service cost 3.1 Net interest expense 1.4 Actuarial gains on pension scheme valuations (83.0) Benefits paid (3.7) Foreign exchange differences on translation (2.7) Balance as of June 30, 2022 159.3 The principal assumptions applied for the valuation at June 30, 2022 were the same as those applied at December 31, 2021, except for the German and Swedish plans which are the most significant in terms of plan assets and liabilities in the Company. The actuarial gain recognized in the year arises primarily from the discount rate applied to the German defined benefits obligations, which increased from 1.1% to 3.0%, and the discount rate applied to the Swedish defined benefit obligations, which increased from 1.8% to 3.8%.

Share based compensation reserv

Share based compensation reserve	6 Months Ended
	Jun. 30, 2022
Share Capital, Reserves and Other Equity Interest [Abstract]
Disclosure of Share Based Compensation Reserve	Share based compensation reserve During 2015, the Company established a discretionary share award scheme, the LTIP, which enables the Company’s Compensation Committee to make grants (“Awards”) in the form of rights over ordinary shares, to any Director, Non-Executive Director or employee of the Company. The Compensation Committee currently awards grants to Senior Management, including those that are Directors and Non-Executive Directors. All Awards are to be settled by physical delivery of shares. Director and Senior Management Share Awards As part of its long term incentive initiatives, the Company has awarded restricted shares to the management team (the “Management Share Awards”) as of the following award dates. January 1, 2018 Award January 1, 2019 Award January 1, 2020 Award January 1, 2021 Award January 1, 2022 Award Other Awards Total Number of awards outstanding at January 1, 2022 431,790 152,695 645,093 787,277 — — 2,016,855 New awards granted in the period — — — — 964,518 170,000 1,134,518 Forfeitures in the period — — (6,443) (10,115) — — (16,558) Awards vested and issued in period (237,800) — — — — — (237,800) Number of awards outstanding at June 30, 2022 193,990 152,695 638,650 777,162 964,518 170,000 2,897,015 Relevant to the January 1, 2018 award schemes grant, the vesting of such award is subject to the following performance conditions: up to one-half of such award will vest if the Company achieves one of a range of benchmark market share price performance targets over a five-year period (the "Share Price Performance Condition") through January 1, 2023 and up to one-half of such award vested upon the Company achieving a cumulative EBITDA performance targets over the four-year period (the "EBITDA Performance Condition") through January 1, 2022. If the Share Price Performance Condition is satisfied, up to 50% of the shares subject to the Share Price Performance Condition vested in the initial two-year period following the grant through January 1, 2020 and up to 50% of the shares subject to the Share Price Performance Condition will vest over the subsequent three-year period following the grant through January 1, 2023. In September 2019, 173,293 restricted share awards were granted as part of the 2019 Management Share Award. The performance period associated with the award began on January 1, 2019. The Share awards will vest on the Company achieving a range of performance conditions including cumulative EBITDA, cumulative net sales, and share price performance measures over a three-year period. One third of the total share award is assigned to each type of performance measure. All shares are subject to a holding period of an additional year and require that the participants to the scheme are still actively employed during the entire four year period, through January 1, 2023. For the 2020, 2021 and 2022 Management Share Awards, the awards will vest upon the Company achieving a range of performance conditions including cumulative EBITDA, cumulative net sales and share price performance measures over a three-year period. The cumulative EBITDA and Cumulative Net Sales tranches of shares are equally weighted, being worth 37.5% of the total award each. The Share Price Tranche is worth 25% of the total award. Specific information on each grant is further included below. In January 2020, 761,979 restricted share awards were granted as part of the 2020 Management Share Award. The performance period associated with the award began on January 1, 2020. All shares vest, subject to satisfaction of the award conditions, on January 1, 2023. In late 2021, 820,202 restricted share awards were granted as part of the 2021 Management Share Award. The performance period associated with the award began on January 1, 2021. All shares vest, subject to satisfaction of the award conditions, on January 1, 2024. In January 2022, 964,518 restricted share awards were granted as part of the 2022 Management Share Award. The performance period associated with the award began on January 1, 2022. All shares vest, subject to satisfaction of the award conditions, on January 1, 2025. In addition in 2022, the Compensation Committee created two new restricted share award plans ("Other awards"). One of these plans was targeted to specific individuals to aid in the retention of key talent, and has no vesting criteria other than the participants continued employment over three-years, with the awards vesting on January 1, 2025. The other plan was targeted at specific individuals as an incentive for achieving a cumulative net sales target on a specific product category over the three-year vesting period through January 1, 2025. In January 2021, 1,041,953 restricted shares granted as part of the 2016 Management Share Awards vested as a result of the satisfaction of the applicable Share Price Performance Condition (based on a share price of $25.42), resulting in the issuance of 587,633 ordinary shares to participants in the LTIP (net of 454,320 ordinary shares held back from issue by the Company as settlement towards personal tax liabilities arising on the vested ordinary shares). In January 2021, 368,154 restricted shares granted as part of the 2017 Management Share Awards vested as a result of the satisfaction of the applicable Share Price Performance Condition (based on a share price of $25.42), resulting in the issuance of 217,228 ordinary shares to participants in the LTIP (net of 150,926 ordinary shares held back from issue by the Company as settlement towards personal tax liabilities arising on the vested ordinary shares). In February 2021, 451,719 restricted shares granted as part of the 2017 Management Share Awards vested as a result of the satisfaction of the applicable EBITDA Performance Condition (based on a share price of $25.89 at time of vesting), resulting in the issuance of 271,451 ordinary shares to participants in the LTIP (net of 180,268 ordinary shares held back from issue by the Company as settlement towards personal tax liabilities arising on the vested ordinary shares). In March 2022, 237,800 restricted shares granted as part of the 2018 Management Share Awards vested as a result of the satisfaction of the applicable EBITDA Performance Condition (based on a share price of $25.17 at time of vesting), resulting in the issuance of 137,810 ordinary shares to participants in the LTIP (net of 99,990 ordinary shares held back from issue by the Company as settlement towards personal tax liabilities arising on the vested ordinary shares). The stock compensation charge reported within the Consolidated Statement of Profit or Loss for the three and six months ended June 30, 2022 related to the Director and Senior Management Share Awards is €2.6 million and €3.6 million (three and six months ended June 30, 2021: €0.4 million and €0.8 million). The Company calculates the cost of the Management Share Awards based upon their fair value using the Monte Carlo Model, which is considered to be the most appropriate methodology considering the restricted shares only vest once the market performance conditions have been satisfied, as well as expected exercise period and the payment of dividends by the Company. Based on the latest revision to schemes, the inputs and assumptions underlying the Monte Carlo models for all awards outstanding as of valuation date are as follows: January 1, 2018 Award January 1, 2019 Award January 1, 2020 Award January 1, 2021 Award January 1, 2022 Award * Grant date price $ 16.72 $ 20.15 $ 22.37 $ 25.42 $ 25.39 Exercise price $ — $ — $ — $ — $ — Expected life of restricted share 1.50 – 4.00 years 4.00 years 4.00 years 3.00 years 3.00 years Expected volatility of the share price 22.7 % 24.0 % 24.4 % 30.0 % 28.0 % Dividend yield expected — % — % — % — % — % Risk free rate 2.55 % 1.33 % 1.70 % 0.24 % 1.15 % Employee exit rate 14.0 % 14.0 % 27.3 % 14.0 % 14.0 % EBITDA Performance Target Conditions 35.0 % 35.0 % 35.0 % 35.0 % 35.0 % *Note: The table above does not include details on the "other awards" as they only require continued employment over the vesting period and a specific net sales target which is not applicable to other participants. The expected volatility of the share price inputs above were estimated by referencing selected quoted companies which are considered to exhibit some degree of comparability with the Company, as the Company has been listed less than eight years. Based on the assessment of fair value and the number of shares expected to vest, the total fair value in respect of the Restricted Shares outstanding are: • 2018 award - $1.6 million (€1.3 million) • 2019 award - $1.4 million (€1.2 million) • 2020 award - $4.8 million (€4.3 million) • 2021 award - $7.0 million (€5.8 million) • 2022 award - $6.7 million (€6.4 million) • Other 2022 awards - $3.6 million (€3.5 million) Non-Executive Director Restricted Share Awards In accordance with the Board approved independent Non-Executive Director compensation guidelines, each independent Non-Executive Director is granted $100,000 of restricted shares annually on the date of the annual general meeting, valued at the closing market price for such shares on this date. The restricted shares vest on the earlier to occur of the date of the Company’s annual meeting of shareholders or thirteen months from the date of grant. On June 17, 2020 after the Company's annual meeting of shareholders, the current Non-Executive Directors were granted 32,140 restricted stock awards at a share price of $21.78. The Non-Executive Directors restricted share awards identified above vested on June 30, 2021 and 24,406 were issued. Of the total 32,140 number of shares vesting, 7,734 shares were held back from issue by the Company as settlement towards personal tax liabilities arising on the vested shares. On June 30, 2021, after the Company's annual general meeting, the current Non-Executive Directors were granted 24,759 restricted stock awards at a share price of $28.27. The total charge within the Statement of Consolidated Profit or Loss for the three and six months ended June 30, 2022 related to Non-Executive Directors stock compensation awards was €0.1 million and €0.3 million (three and six months ended June 30, 2021: €0.3 million and €0.4 million). Share based compensation reserve Total Share based €m Balance as of January 1, 2022 6.9 Non-Executive Director restricted share awards charge 0.3 Directors and Senior Management share awards charge - January 1, 2019 0.2 Directors and Senior Management share awards charge - January 1, 2020 0.7 Directors and Senior Management share awards charge - January 1, 2021 1.0 Directors and Senior Management share awards charge - January 1, 2022 1.2 Directors and Senior Management share awards charge - Other 2022 awards 0.5 Reclassification of employer tax for Director and Senior Management share awards (0.4) Balance as of June 30, 2022 10.4 In many jurisdictions, tax authorities levy taxes on share-based payment transactions with employees that give rise to a personal tax liability for the employee. In some cases, the Company is required to withhold the tax due and to settle it with the tax authority on behalf of the employees. To fulfill this obligation, the terms of the Management Share Awards permit the Company to withhold the number of shares that are equal to the monetary value of the employee’s tax obligation from the total number of shares that otherwise would have been issued to the employee upon vesting. The monetary value of the employee’s tax obligation is recorded as a deduction from Share based compensation reserve for the shares withheld.
Share based compensation reserve	Founder Preferred Shares Dividend Reserve Nomad has issued Founder Preferred Shares to its Founder Entities. Holders of the Founder Preferred Shares are entitled to receive annual dividend amounts subject to certain performance conditions (the “Founder Preferred Shares Annual Dividend Amount”). The Founder Preferred Shares Annual Dividend Amount is structured to provide a dividend based on the future appreciation of the market value of the ordinary shares, thus aligning the interests of the Founders with those of the investors on a long term basis. The Preferred Shares Annual Dividend Amount is determined with reference to the Dividend Determination Period of a financial year, i.e. the last 10 consecutive trading days and calculated as 20% of the increase in the volume weighted average share price of the Company’s ordinary shares across the determination period compared to the highest price previously used in calculating the Founder Preferred Share Annual Dividend Amounts ($25.2127) multiplied by 140,220,619 shares (the “Preferred Share Dividend Equivalent”). As of December 31, 2021, no Founder Preferred Shares Annual Dividend Amount was due, as the average price per ordinary share for the last ten consecutive trading days of the year did not reach the previously achieved 2020 Dividend Price of $25.2127. Accordingly, the balance of the Founder Preferred Shares Dividend Reserve as at June 30, 2022 remained at €166.0 million (December 31, 2021: €166.0 million). The Founder Preferred Shares Annual Dividend Amount is paid for so long as the Founder Preferred Shares remain outstanding. The Founder Preferred Shares automatically convert on the last day of the seventh full financial year following completion of the acquisition of the Iglo Group or upon a change of control, unless in the case of a change of control, the independent Directors determine otherwise.

Share Capital and Capital reser

Share Capital and Capital reserve	6 Months Ended
	Jun. 30, 2022
Share Capital, Reserves and Other Equity Interest [Abstract]
Share Capital and Capital reserve	Share Capital, Capital reserve and Other reserves Ordinary Shares On August 5, 2021, the Company announced that its Board of Directors authorized a share repurchase program to purchase up to an aggregate of $500 million of the Company’s ordinary shares. Acquisitions pursuant to the share repurchase program may be made from time to time through a combination of open market repurchases, privately negotiated transactions, accelerated share repurchase transactions, and/or other derivative transactions, at the Company's discretion, as permitted by securities laws and other legal requirements. Pursuant to the program, as at December 31, 2021, 3,090,082 ordinary shares had been repurchased and canceled at an average price of $24.50, for aggregate gross costs of $75.8 million (€67.1 million). Directly attributed transaction costs of €0.1 million were incurred. During 2022, a further 1,160,547 ordinary shares were repurchased and canceled in open market transactions at an average price of $26.23 for aggregate gross costs of $30.5 million (€26.8 million) under this authorization. See Note 15 for further information on restricted shares vested as part of the 2016 and 2017 Management Share Awards. The following is the authorized share capital available to the Company: • Unlimited number of Ordinary Shares with $nil nominal value issued at $10.00 per share • Unlimited number of Founder Preferred Shares with $nil nominal value issued at $10.00 per share Shares June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 €m €m Authorized Share Capital issued and fully paid: Ordinary Shares with nil nominal value 172,536,436 173,559,173 1,614.6 1,639.6 Founder Preferred Shares with nil nominal value 1,500,000 1,500,000 10.6 10.6 Total share capital and capital reserve 1,625.2 1,650.2 Listing and share transaction costs (27.1) (27.1) Total net share capital and capital reserve 1,598.1 1,623.1 Other Reserves Other reserves as at June 30, 2022, include a cash flow hedging reserve of €40.7 million (December 31, 2021: €10.9 million) and a cost of hedging reserve with a deficit of €2.2 million (December 31, 2021: deficit of €0.4 million).

Related parties

Related parties	6 Months Ended
	Jun. 30, 2022
Related Party [Abstract]
Related parties	Related parties As of January 1, 2022, the Company amended its Advisory Services Agreement with Mariposa Capital, LLC, an affiliate of Sir Martin Franklin, and TOMS Capital LLC, an affiliate of Mr. Gottesman. Pursuant to the terms of the Amended and Restated Advisory Services Agreement, Mariposa Capital, LLC and TOMS Capital LLC will continue to provide high-level strategic advice and guidance to the Company for an aggregate annual fee equal to $4.0 million, payable in quarterly installments. Key management personnel comprise the Directors and Executive Officers. The Executive Officers continue to be remunerated for their services to the Company through their employment contracts. Non-executive Directors continue to receive fees for their services as board members and to certain committees and are settled through payroll. Director fees are payable quarterly in arrears. Total non-executive Director fees and expenses for the three and six months ended June 30, 2022 were €0.1 million and €0.2 million, respectively (three and six months ended June 30, 2021: €0.1 million and €0.2 million, respectively). In addition, certain non-executive Directors received grants under the LTIP as discussed in Note 15.

Subsequent events after the Sta

Subsequent events after the Statement of Financial Position date	6 Months Ended
	Jun. 30, 2022
Events After Reporting Period [Abstract]
Subsequent events after the Statement of Financial Position date	The Company signed an agreement with tax authorities to resolve a historical tax dispute at the end of July 2022. The exact impact of the agreement is not yet known, however it is expected to reduce the liabilities recognized. On the grounds that this agreement represents a change in facts and circumstances after the balance sheet date, this has been treated as a non-adjusting post balance sheet event. As a non-adjusting post balance sheet event, the Company has not recognized the income or the reduction in the liability provided for in relation to this dispute.

Basis of preparation (Policies)

Basis of preparation (Policies)	6 Months Ended
	Jun. 30, 2022
Common Domain Members [Abstract]
Basis of Presentation	The accounting policies used by management in preparing these condensed consolidated financial statements were the same as those that applied to the consolidated financial statements as at and for the year ended December 31, 2021, except for taxes on income. Taxes on income are accrued based on management's estimate of the average annual effective income tax rate on profits excluding exceptional items, applied to the pre-tax income excluding exceptional items of the period. It also reflects the tax impact of exceptional items accounted for in the period. The preparation of our consolidated interim financial statements requires us to make estimates and assumptions that affect reported amounts of assets, liabilities, revenues, expenses and disclosure of contingent assets and liabilities. We evaluate our estimates on an ongoing basis using our historical experience, as well as other factors we believe appropriate under the circumstances, such as current economic conditions in light of the COVID-19 pandemic, supply chain disruptions, high inflation, as well as the ongoing conflict between Ukraine and Russia. Actual results could differ from these estimates. The Directors have, at the time of approving the financial statements, a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future given the cash funds available and the current forecast cash outflows. Thus, the Company continues to adopt the going concern basis of accounting in preparing the financial statements.
Disclosure of expected impact of initial application of new standards or interpretations [text block]	Recently Issued and Not Yet Adopted Accounting Pronouncements under IFRS Amendments to IAS 12 - Deferred Tax related to Assets and Liabilities arising from a Single Transaction

Segment reporting (Tables)

Segment reporting (Tables)	6 Months Ended
	Jun. 30, 2022
Operating Segments [Abstract]
Segment As Adjusted EBITDA	The Chief Operating Decision Maker (“CODM”) of the Company considers there to be one reporting and operating segment, being “Frozen Foods” and is reflected in the segment presentation below for the periods presented. For the three months ended June 30, For the six months ended June 30, 2022 2021 2022 2021 Note €m €m €m €m Profit for the period 74.6 51.2 130.6 100.5 Taxation 22.7 13.9 39.7 28.3 Net financing costs 7 16.1 35.1 30.7 75.4 Depreciation & amortization 22.0 16.8 43.2 33.6 Acquisition purchase price adjustments — — — 2.3 Exceptional items 6 (12.7) 4.3 6.3 15.1 Other add-backs 4.0 1.8 7.7 5.4 Adjusted EBITDA 126.7 123.1 258.2 260.6
External Revenue by Geography	For the three months ended June 30, For the six months ended June 30, 2022 2021 2022 2021 €m €m €m €m United Kingdom 185.3 186.3 383.2 381.7 Italy 79.7 92.1 202.5 219.8 Germany 84.4 87.9 186.4 202.4 France 41.4 43.1 90.7 94.8 Sweden 34.9 34.2 73.0 74.0 Austria 28.3 30.9 63.0 69.2 Norway 28.3 27.0 62.3 58.5 Croatia 39.6 — 57.9 — Serbia 40.8 — 56.9 — Spain 19.7 18.7 37.0 37.3 Rest of Europe 114.6 75.6 217.0 165.5 Total external revenue by geography 697.0 595.8 1,429.9 1,303.2

Exceptional items (Tables)

Exceptional items (Tables)	6 Months Ended
	Jun. 30, 2022
Analysis of income and expense [abstract]
Schedule of Exceptional Items	For the three months ended June 30, For the six months ended June 30, 2022 2021 2022 2021 €m €m €m €m Business Transformation program (1) 8.7 2.4 14.2 3.4 Findus Switzerland integration costs (2) 2.9 1.6 5.0 2.4 Fortenova Acquisition integration costs (3) 1.5 — 3.5 — Release of indemnification assets (4) — — 7.0 5.0 Brexit (5) — 1.1 — 4.3 Information Technology Transformation program (6) 0.7 — 2.9 — Settlement of legacy matters (7) (27.9) (1.8) (27.9) (1.8) Factory optimization (8) 1.4 1.0 1.6 1.8 Total exceptional items (12.7) 4.3 6.3 15.1

Finance income and costs (Table

Finance income and costs (Tables)	6 Months Ended
	Jun. 30, 2022
Analysis of income and expense [abstract]
Schedule of Finance income and costs	For the three months ended June 30, For the six months ended June 30, 2022 2021 2022 2021 €m €m €m €m Finance income Net foreign exchange gains on translation of financial assets and liabilities 2.7 — 3.6 — Total finance income 2.7 — 3.6 — Interest expense (a) (14.4) (14.2) (28.7) (27.6) Net impairment loss on short term investments — — — (12.4) Net foreign exchange losses arising on translation of financial assets and liabilities — (0.5) — (12.1) Net pension interest costs (0.7) (0.4) (1.4) (0.8) Amortization of borrowing costs (0.5) (0.5) (1.0) (1.0) Net fair value losses on derivatives held at fair value through profit or loss (3.2) (1.6) (3.2) (3.6) Financing costs incurred on new or amended debt (b) — (17.9) — (17.9) Total finance costs (18.8) (35.1) (34.3) (75.4) Net finance costs (16.1) (35.1) (30.7) (75.4) (a) Interest expense includes interest and finance charges paid/payable for lease liabilities and financial liabilities not at fair value through profit or loss and is shown net of gains recycled from the cash flow hedge reserve on cross currency interest rate swaps. (b) For the six months ended June 30, 2021, charges of €17.9 million were recognized as a consequence of the refinancing in June 2021, as disclosed in Note 12. Of this, €10.0 million relates to the extinguishment of the previous debts, including the write-off of deferred transaction costs.

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings per share [abstract]
Schedule of Earnings per Share	For the three months ended June 30, For the six months ended June 30, 2022 2021 2022 2021 Basic earnings per share Profit for the period attributable to equity owners of the parent (€m) 74.6 51.2 130.6 100.5 Weighted average Ordinary Shares and Founder Preferred Shares (basic) in millions 174.1 177.8 174.3 178.0 Basic earnings per share € 0.43 € 0.29 € 0.75 € 0.56
Schedule of Diluted Earnings per Share	For the three months ended June 30, For the six months ended June 30, 2022 2021 2022 2021 Diluted earnings per share Profit for the period attributable to equity owners of the parent (€m) 74.6 51.2 130.6 100.5 Weighted average Ordinary Shares and Founder Preferred Shares (diluted) in millions 174.1 177.8 174.3 178.0 Diluted earnings per share € 0.43 € 0.29 € 0.75 € 0.56

Indemnification assets (Tables)

Indemnification assets (Tables)	6 Months Ended
	Jun. 30, 2022
Business Combinations1 [Abstract]
Summary of Indemnification Assets	Acquisitions Fortenova Group's Frozen Food Business Group On September 30, 2021, the Company announced the completion of the acquisition of the Fortenova Group’s Frozen Food Business Group (FFBG) for consideration of €641.6 million. FFBG is a leading European frozen food portfolio operating in attractive markets new to Nomad, including Croatia, Serbia, Bosnia & Herzegovina, Hungary, Slovenia, Kosovo, North Macedonia and Montenegro. Its two anchor brands, Ledo and Frikom, have unparalleled consumer awareness and number one market share in many of these markets and offer a broad range of frozen food products including fish, fruits, vegetables, ready meals, pastry and ice cream. The consideration includes cash paid as well as contingent consideration due which has been reassessed in the period, which has increased the overall consideration by €1.5 million compared to that reported as at December 31, 2021, with a corresponding reduction in goodwill. Contingent consideration remaining is payable on the recovery of some ringfenced assets and has been recognized to the extent management believes they will be recoverable. The preliminary assessment of the values over the assets and liabilities at the date of acquisition and the consideration paid is as follows: September 30, 2021 €m Assets: Intangible assets 301.9 Tangible assets 95.0 Trade and other receivables 71.7 Cash 43.6 Inventories 46.9 Deferred taxes 14.8 Total assets 573.9 Liabilities: Current liabilities 62.1 Non-current liabilities 16.6 Deferred taxes 47.7 Total liabilities 126.4 Total identifiable net assets acquired 447.5 Total purchase consideration 641.6 Total identifiable net assets acquired (447.5) Goodwill 194.1 The preliminary goodwill recognized on acquisition is €194.1 million . The goodwill recognized is attributable mainly to the growth prospects for the business expected organically and operational synergies. If new information obtained within one year of the date of acquisition about facts and circumstances that existed at the date of acquisition is identified, then the accounting for the acquisition will be revised. €m Balance at January 1, 2022 9.5 Release of indemnification asset (7.7) Balance at June 30, 2022 1.8

Financial instruments (Tables)

Financial instruments (Tables)	6 Months Ended
	Jun. 30, 2022
Financial Instruments [Abstract]
Disclosure of Financial Assets	Financial assets at amortized cost Derivatives designated in hedge relationships Financial Total June 30, 2022 €m €m €m €m Assets Derivative financial instruments — 114.9 — 114.9 Trade and other receivables 299.6 — — 299.6 Cash and cash equivalents 221.0 — — 221.0 Liabilities Derivative financial instruments — (1.5) — (1.5) Trade and other payables excluding non-financial liabilities — — (675.1) (675.1) Loans and borrowings — — (2,293.1) (2,293.1) Total 520.6 113.4 (2,968.2) (2,334.2) Trade receivables disclosed in the table above are net of contract liabilities related to discounts and trade marketing expenses of €163.7 million. Loans and borrowings includes €75.4 million relating to lease liabilities and are stated gross of capitalized deferred borrowing costs. Financial assets at amortized cost Derivatives at Derivatives designated in hedge relationships Financial Total December 31, 2021 €m €m €m €m €m Assets Derivative financial instruments — 0.5 19.7 — 20.2 Trade and other receivables 201.6 — — — 201.6 Cash and cash equivalents 254.2 — — — 254.2 Liabilities Derivative financial instruments — (0.1) (28.0) — (28.1) Trade and other payables excluding non-financial liabilities — — — (647.1) (647.1) Loans and borrowings — — — (2,236.8) (2,236.8) Total 455.8 0.4 (8.3) (2,883.9) (2,436.0)
Disclosure of Financial Liabilities	Financial assets at amortized cost Derivatives designated in hedge relationships Financial Total June 30, 2022 €m €m €m €m Assets Derivative financial instruments — 114.9 — 114.9 Trade and other receivables 299.6 — — 299.6 Cash and cash equivalents 221.0 — — 221.0 Liabilities Derivative financial instruments — (1.5) — (1.5) Trade and other payables excluding non-financial liabilities — — (675.1) (675.1) Loans and borrowings — — (2,293.1) (2,293.1) Total 520.6 113.4 (2,968.2) (2,334.2) Trade receivables disclosed in the table above are net of contract liabilities related to discounts and trade marketing expenses of €163.7 million. Loans and borrowings includes €75.4 million relating to lease liabilities and are stated gross of capitalized deferred borrowing costs. Financial assets at amortized cost Derivatives at Derivatives designated in hedge relationships Financial Total December 31, 2021 €m €m €m €m €m Assets Derivative financial instruments — 0.5 19.7 — 20.2 Trade and other receivables 201.6 — — — 201.6 Cash and cash equivalents 254.2 — — — 254.2 Liabilities Derivative financial instruments — (0.1) (28.0) — (28.1) Trade and other payables excluding non-financial liabilities — — — (647.1) (647.1) Loans and borrowings — — — (2,236.8) (2,236.8) Total 455.8 0.4 (8.3) (2,883.9) (2,436.0) Fair value Carrying value June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 €m €m €m €m Senior EUR/USD loans 1,342.5 1,360.8 1,417.6 1,355.8 Other external debt 0.1 0.1 0.1 0.1 2028 fixed rate senior secured notes 632.2 802.6 800.0 800.0 Less deferred borrowing costs — — (8.4) (9.4) 1,974.8 2,163.5 2,209.3 2,146.5

Provisions (Tables)

Provisions (Tables)	6 Months Ended
	Jun. 30, 2022
Other Provisions, Contingent Liabilities and Contingent Assets [Abstract]
Summary of Provisions	Restructuring Provisions Other Total €m €m €m €m Balance as of January 1, 2022 5.6 7.9 28.7 42.2 Additional provision in the period 0.4 — 1.8 2.2 Release of provision — — (1.3) (1.3) Utilization of provision (1.7) (0.1) (1.2) (3.0) Foreign exchange (0.1) — 0.8 0.7 Balance as of June 30, 2022 4.2 7.8 28.8 40.8 Analysis of total provisions: June 30, 2022 December 31, 2021 Current 37.5 39.3 Non-current 3.3 2.9 Total 40.8 42.2

Employee benefits (Tables)

Employee benefits (Tables)	6 Months Ended
	Jun. 30, 2022
Employee Benefits [Abstract]
Schedule of Net Employee Benefit Obligations	The total net employee benefit obligations as at June 30, 2022 is as follows: €m Balance as of January 1, 2022 244.2 Service cost 3.1 Net interest expense 1.4 Actuarial gains on pension scheme valuations (83.0) Benefits paid (3.7) Foreign exchange differences on translation (2.7) Balance as of June 30, 2022 159.3

Share based compensation rese_2

Share based compensation reserve (Tables)	6 Months Ended
	Jun. 30, 2022
Share Capital, Reserves and Other Equity Interest [Abstract]
Summary of Management Share Awards	As part of its long term incentive initiatives, the Company has awarded restricted shares to the management team (the “Management Share Awards”) as of the following award dates. January 1, 2018 Award January 1, 2019 Award January 1, 2020 Award January 1, 2021 Award January 1, 2022 Award Other Awards Total Number of awards outstanding at January 1, 2022 431,790 152,695 645,093 787,277 — — 2,016,855 New awards granted in the period — — — — 964,518 170,000 1,134,518 Forfeitures in the period — — (6,443) (10,115) — — (16,558) Awards vested and issued in period (237,800) — — — — — (237,800) Number of awards outstanding at June 30, 2022 193,990 152,695 638,650 777,162 964,518 170,000 2,897,015
Summary of Management Share Award Inputs and Assumptions	Based on the latest revision to schemes, the inputs and assumptions underlying the Monte Carlo models for all awards outstanding as of valuation date are as follows: January 1, 2018 Award January 1, 2019 Award January 1, 2020 Award January 1, 2021 Award January 1, 2022 Award * Grant date price $ 16.72 $ 20.15 $ 22.37 $ 25.42 $ 25.39 Exercise price $ — $ — $ — $ — $ — Expected life of restricted share 1.50 – 4.00 years 4.00 years 4.00 years 3.00 years 3.00 years Expected volatility of the share price 22.7 % 24.0 % 24.4 % 30.0 % 28.0 % Dividend yield expected — % — % — % — % — % Risk free rate 2.55 % 1.33 % 1.70 % 0.24 % 1.15 % Employee exit rate 14.0 % 14.0 % 27.3 % 14.0 % 14.0 % EBITDA Performance Target Conditions 35.0 % 35.0 % 35.0 % 35.0 % 35.0 % *Note: The table above does not include details on the "other awards" as they only require continued employment over the vesting period and a specific net sales target which is not applicable to other participants.
Schedule of Reserves within Equity	Share based compensation reserve Total Share based €m Balance as of January 1, 2022 6.9 Non-Executive Director restricted share awards charge 0.3 Directors and Senior Management share awards charge - January 1, 2019 0.2 Directors and Senior Management share awards charge - January 1, 2020 0.7 Directors and Senior Management share awards charge - January 1, 2021 1.0 Directors and Senior Management share awards charge - January 1, 2022 1.2 Directors and Senior Management share awards charge - Other 2022 awards 0.5 Reclassification of employer tax for Director and Senior Management share awards (0.4) Balance as of June 30, 2022 10.4

Share Capital and Capital res_2

Share Capital and Capital reserve (Tables)	6 Months Ended
	Jun. 30, 2022
Share Capital, Reserves and Other Equity Interest [Abstract]
Schedule of Share Capital and Capital Reserve	Shares June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 €m €m Authorized Share Capital issued and fully paid: Ordinary Shares with nil nominal value 172,536,436 173,559,173 1,614.6 1,639.6 Founder Preferred Shares with nil nominal value 1,500,000 1,500,000 10.6 10.6 Total share capital and capital reserve 1,625.2 1,650.2 Listing and share transaction costs (27.1) (27.1) Total net share capital and capital reserve 1,598.1 1,623.1

Basis of preparation (Details)

Basis of preparation (Details) € in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2022 EUR (€)	Jun. 30, 2021 EUR (€)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 EUR (€)	Jun. 24, 2021 EUR (€)
Common Table Line Items [Line Items]
Other reserves	€ 38.5			€ 10.5
Translation reserve	100.4			105.1
Cash flow hedges
Common Table Line Items [Line Items]
Other reserves	40.7			€ 10.9
Derivatives | Swap contract | Cash flow hedges
Common Table Line Items [Line Items]
Notional amount	€ 819.1
Revolving Credit Facility (new)
Common Table Line Items [Line Items]
Line of credit facility, maximum borrowing capacity					€ 175
Senior EURO Debt
Common Table Line Items [Line Items]
Notional amount					€ 553.2
Interest rate	2.50%		2.50%
Senior USD Debt
Common Table Line Items [Line Items]
Notional amount	€ 869.6		$ 906.8
Interest rate	2.25%		2.25%
Other reserves
Common Table Line Items [Line Items]
Deferred hedging losses and costs of hedging transferred to the carrying value of inventory	€ (22.3)	€ 23.4

Acquisitions (Details)

Acquisitions (Details) - EUR (€) € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Disclosure of detailed information about business combination [line items]
Assets	€ 6,388.1		€ 6,388.1		€ 6,170.8
Liabilities	3,897.7		3,897.7		€ 3,871.8
Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities			(0.6)	€ 0.8
Acquisition related costs	0.5	€ 0.9	2.9	€ 3.9
Fortenova Group
Disclosure of detailed information about business combination [line items]
Identifiable intangible assets recognised as of acquisition date	301.9		301.9
Other tangible or intangible assets transferred	95		95
Trade and other receivables	71.7		71.7
Cash and cash equivalents recognised as of acquisition date	43.6		43.6
Inventory recognised as of acquisition date	46.9		46.9
Deferred tax assets recognised as of acquisition date	14.8		14.8
Assets	573.9		573.9
Current liabilities recognised as of acquisition date	62.1		62.1
Non-current liabilities recognised as of acquisition date	16.6		16.6
Deferred tax liabilities recognised as of acquisition date	47.7		47.7
Liabilities	126.4		126.4
Identifiable assets acquired (liabilities assumed)	(447.5)		(447.5)
Contingent consideration recognised as of acquisition date	641.6		641.6
Goodwill recognised as of acquisition date	€ 194.1		194.1
Increase in existing liabilities, contingent liabilities recognised in business combination			€ 1.5

Acquisitions (Details)_2

Acquisitions (Details) - EUR (€) € in Millions	Jun. 30, 2022	Dec. 31, 2021
Disclosure of reclassifications or changes in presentation [line items]
Goodwill	€ 2,101.5	€ 2,099.4
Intangibles	2,460	2,455.7
Inventories	472.2	410.6
Deferred tax liabilities	(464.2)	(437.6)
Trade and other payables	(731.1)	(692)
Assets (liabilities)	€ 2,490.4	€ 2,299

Segment reporting - Segment as

Segment reporting - Segment as Adjusted EBITDA (Details) - EUR (€) € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disclosure of operating segments [line items]
Profit for the period	€ 74.6	€ 51.2	€ 130.6	€ 100.5
Taxation	22.7	13.9	39.7	28.3
Net financing costs	16.1	35.1	30.7	75.4
Depreciation & amortization	22	16.8	43.2	33.6
Exceptional items	(12.7)	4.3	6.3	15.1
Material reconciling items
Disclosure of operating segments [line items]
Acquisition purchase price adjustments	0	0	0	2.3
Exceptional items	(12.7)	4.3	6.3	15.1
Other add-backs	4	1.8	7.7	5.4
Adjusted EBITDA	€ 126.7	€ 123.1	€ 258.2	€ 260.6

Segment reporting - Additional

Segment reporting - Additional Information (Details) - EUR (€) € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating Segments [Abstract]
Adjustments for share based payments including employer tax	€ 3.5	€ 0.9	€ 4.8	€ 1.5
Acquisition related costs	€ 0.5	€ 0.9	€ 2.9	€ 3.9

Segment reporting - Geographica

Segment reporting - Geographical information (Details) - EUR (€) € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disclosure of geographical areas [line items]
Revenue	€ 697	€ 595.8	€ 1,429.9	€ 1,303.2
United Kingdom
Disclosure of geographical areas [line items]
Revenue	185.3	186.3	383.2	381.7
Italy
Disclosure of geographical areas [line items]
Revenue	79.7	92.1	202.5	219.8
Germany
Disclosure of geographical areas [line items]
Revenue	84.4	87.9	186.4	202.4
France
Disclosure of geographical areas [line items]
Revenue	41.4	43.1	90.7	94.8
Sweden
Disclosure of geographical areas [line items]
Revenue	34.9	34.2	73	74
Austria
Disclosure of geographical areas [line items]
Revenue	28.3	30.9	63	69.2
Norway
Disclosure of geographical areas [line items]
Revenue	28.3	27	62.3	58.5
Spain
Disclosure of geographical areas [line items]
Revenue	19.7	18.7	37	37.3
Rest of Europe
Disclosure of geographical areas [line items]
Revenue	114.6	75.6	217	165.5
CROATIA
Disclosure of geographical areas [line items]
Revenue	39.6	0	57.9	0
SERBIA
Disclosure of geographical areas [line items]
Revenue	€ 40.8	€ 0	€ 56.9	€ 0

Exceptional Items - Schedule (D

Exceptional Items - Schedule (Details) - EUR (€) € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Analysis of income and expense [abstract]
Business Transformation program (1)	€ 8.7	€ 2.4	€ 14.2	€ 3.4
Findus Switzerland integration costs (2)	2.9	1.6	5	2.4
Fortenova Acquisition integration costs (3)	1.5	0	3.5	0
Release of indemnification assets (4)	0	0	(7.7)	5
Brexit (5)	0	1.1	0	4.3
Information Technology Transformation program	0.7	0	2.9	0
Settlement of legacy matters (7)	(27.9)	(1.8)	(27.9)	(1.8)
Factory Optimization	1.4	1	1.6	1.8
Exceptional items	€ (12.7)	€ 4.3	€ 6.3	€ 15.1

Exceptional items - Additional

Exceptional items - Additional Information (Details) - EUR (€) € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Analysis of income and expense [abstract]
Business Transformation program (1)	€ 8.7	€ 2.4	€ 14.2	€ 3.4
Brexit (5)	0	1.1	0	4.3
Factory Optimization	1.4	1	1.6	1.8
Exceptional Items, Tax Expense (Income), Continuing Operations	€ 4.9	€ (0.7)	2.6	(1.9)
Cash flows relating to exceptional items			€ (28.7)	€ (16.7)

Finance income and costs (Detai

Finance income and costs (Details) - EUR (€)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Analysis of income and expense [abstract]
Net foreign exchange gains on translation of financial assets and liabilities	€ 2,700,000	€ 0	€ 3,600,000	€ 0
Total finance income	2,700,000	0	3,600,000	0
Interest expense (a)	(14,400,000)	(14,200,000)	(28,700,000)	(27,600,000)
Net impairment loss on short term investments	0	0	0	12,400,000
Net foreign exchange losses arising on translation of financial assets and liabilities	0	(500,000)	0	(12,100,000)
Net pension interest costs	(700,000)	(400,000)	(1,400,000)	(800,000)
Amortization of borrowing costs	(500,000)	(500,000)	(1,000,000)	(1,000,000)
Net fair value losses on derivatives held at fair value through profit or loss	(3,200,000)	(1,600,000)	(3,200,000)	(3,600,000)
Financing costs incurred on new or amended debt (b)	0	(17,900,000)	0	(17,900,000)
Total finance costs	(18,800,000)	(35,100,000)	(34,300,000)	(75,400,000)
Net financing costs	€ (16,100,000)	€ (35,100,000)	€ (30,700,000)	(75,400,000)
Gains (Losses) on Restructuring of previous debt				€ (10,000,000)

Taxation (Details)

Taxation (Details) - EUR (€) € in Millions		3 Months Ended		6 Months Ended
	Apr. 01, 2023	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Taxes [Abstract]
Tax expense		€ 22.7	€ 13.9	€ 39.7	€ 28.3
Applicable tax rate	25%			19%

Earnings per share - Computatio

Earnings per share - Computation (Details) - EUR (€) € / shares in Units, € in Millions, shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Basic earnings per share
Profit for the period attributable to equity owners of the parent (€m)	€ 74.6	€ 51.2	€ 130.6	€ 100.5
Weighted average Ordinary Shares and Founder Preferred Shares (basic) in millions	174.1	177.8	174.3	178
Basic and diluted earnings per share (in euros per share)	€ 0.43	€ 0.29	€ 0.75	€ 0.56
Basic earnings per share	€ 0.43	€ 0.29	€ 0.75	€ 0.56
Diluted earnings per share
Profit for the period attributable to equity owners of the parent (€m)	€ 74.6	€ 51.2	€ 130.6	€ 100.5
Weighted average Ordinary Shares and Founder Preferred Shares (diluted) in millions	174.1	177.8	174.3	178
Diluted earnings per share	€ 0.43	€ 0.29	€ 0.75	€ 0.56

Earnings per share - Additional

Earnings per share - Additional Information (Details)			3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 17, 2020	Jun. 30, 2022 shares	Jun. 30, 2022
Earnings per share [line items]
Preference shares, dividend payment terms, weighted average share price, minimum term required				10 days
January 1, 2018
Earnings per share [line items]
Dilutive effect of restricted share awards on number of ordinary shares (in shares)			25,655
Non-Executive Director
Earnings per share [line items]
Number of other equity instruments exercised or vested in share-based payment arrangement	24,759	32,140		24,406
Key management personnel of entity or parent
Earnings per share [line items]
Number of other equity instruments exercised or vested in share-based payment arrangement			24,759

Indemnification assets (Details

Indemnification assets (Details) - EUR (€) € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Business Combinations1 [Abstract]
Beginning balance			€ 9.5
Release of indemnified provision	€ 0	€ 0	7.7	€ (5)
Ending balance	€ 1.8		€ 1.8

Indemnification assets - Additi

Indemnification assets - Additional Information (Details) - EUR (€) € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Disclosure of detailed information about business combination [line items]
Release of indemnified provision	€ 0	€ 0	€ (7.7)	€ 5
Findus
Disclosure of detailed information about business combination [line items]
Indemnification assets recognised as of acquisition date					€ 7
Release of indemnified provision			€ 7
Contingent Consideration Arrangements And Indemnification Assets Recognised as of Acquisition Date, shares released from escrow	342,190		342,190
Goodfella's Pizza
Disclosure of detailed information about business combination [line items]
Indemnification assets recognised as of acquisition date					€ 2.5
Release of indemnified provision			€ 0.7

Financial instruments - Categor

Financial instruments - Categories of financial instruments (Details) - EUR (€) € in Millions	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Financial assets at amortized cost	€ 221	€ 254.2	€ 772.1	€ 382.5
Financial assets at amortised cost	520.6	455.8
Financial liabilities at amortised cost	(2,968.2)	(2,883.9)
Financial assets (liabilities) at fair value through profit or loss		0.4
Financial assets (liabilities) at fair value through other comprehensive income	113.4	(8.3)
Total	(2,334.2)	(2,436)
Derivative financial instruments
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Financial liabilities at amortised cost	0	0
Financial liabilities	(1.5)	(28.1)
Financial liabilities at fair value through profit or loss		(0.1)
Financial Liabilities At Fair Value Through Other Comprehensive Income	(1.5)	(28)
Trade and other payables excluding non-financial liabilities
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Financial liabilities at amortised cost	(675.1)	(647.1)
Financial liabilities	(675.1)	(647.1)
Financial liabilities at fair value through profit or loss		0
Financial Liabilities At Fair Value Through Other Comprehensive Income	0	0
Loans and borrowings
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Financial liabilities at amortised cost	(2,293.1)	(2,236.8)
Financial liabilities	(2,293.1)	(2,236.8)
Financial liabilities at fair value through profit or loss		0
Financial Liabilities At Fair Value Through Other Comprehensive Income	0	0
Derivative financial instruments
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Financial assets at fair value through profit or loss		0.5
Financial assets	114.9	20.2
Derivative financial assets held for hedging	114.9	19.7
Trade and other receivables
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Financial assets at amortised cost	299.6	201.6
Financial assets	299.6	201.6
Cash and cash equivalents
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Financial assets at amortised cost	221	254.2
Financial assets	€ 221	€ 254.2

Financial Instruments - Additio

Financial Instruments - Additional Information (Details) $ in Millions		3 Months Ended		6 Months Ended
	Jun. 24, 2021 EUR (€)	Jun. 30, 2022 EUR (€)	Jun. 30, 2021 EUR (€)	Jun. 30, 2022 EUR (€)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 EUR (€)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 EUR (€)	Jul. 09, 2021 EUR (€)
Disclosure of detailed information about borrowings [line items]
Contract liabilities		€ 163,700,000		€ 163,700,000				€ 189,900,000
Financing costs incurred on new or amended debt (b)		0	€ (17,900,000)	0		€ (17,900,000)
Derivatives | Swap contract | Cash flow hedges
Disclosure of detailed information about borrowings [line items]
Notional amount		819,100,000		819,100,000
Liability relating to IFRS 16
Disclosure of detailed information about borrowings [line items]
Lease liabilities		€ 75,400,000		€ 75,400,000				€ 80,900,000
Senior EURO Debt
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 553,200,000
Interest rate		2.50%		2.50%			2.50%
Financing costs incurred on new or amended debt (b)	3,800,000
Senior USD Debt
Disclosure of detailed information about borrowings [line items]
Notional amount		€ 869,600,000		€ 869,600,000			$ 906.8
Repayments of non-current borrowings				€ 9,200,000	$ 9.6
Interest rate		2.25%		2.25%			2.25%
Revolving Credit Facility
Disclosure of detailed information about borrowings [line items]
Line of credit facility, maximum borrowing capacity	80,000,000
2024 fixed rate senior secured notes
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 400,000,000
Interest rate	3.25%
Twenty Twenty-Eight Fixed Rate Senior Secured Notes
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 750,000,000	€ 750,000,000		€ 750,000,000					€ 50,000,000
Interest rate		2.50%		2.50%			2.50%		2.50%
Financing costs incurred on new or amended debt (b)	4,000,000
Issued price of Senior Secured Notes (2028)									€ 100.75
Revolving Credit Facility (new)
Disclosure of detailed information about borrowings [line items]
Line of credit facility, maximum borrowing capacity	€ 175,000,000

Financial Instruments - Interes

Financial Instruments - Interest bearing loans and borrowings (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 EUR (€)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 EUR (€)	Jul. 09, 2021 EUR (€)	Jun. 24, 2021 EUR (€)
2024 fixed rate senior secured notes
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Notional amount						€ 400,000,000
Interest rate						3.25%
Twenty Twenty-Eight Fixed Rate Senior Secured Notes
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Notional amount	€ 750,000,000				€ 50,000,000	€ 750,000,000
Interest rate	2.50%		2.50%		2.50%
Issued price of Senior Secured Notes (2028)					€ 100.75
Senior USD Debt
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Notional amount	€ 869,600,000		$ 906.8
Interest rate	2.25%		2.25%
Repayments of non-current borrowings	€ 9,200,000	$ 9.6
Repayments Of Non-current Borrowings - percentage of original issued notional	1%		1%
Loans and Borrowings
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Fair value	€ 1,974,800,000			€ 2,163,500,000
Carrying value	2,209,300,000			2,146,500,000
Loans and Borrowings | Deferred borrowing costs
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Fair value	0			0
Carrying value	(8,400,000)			(9,400,000)
Loans and Borrowings | Senior EUR/USD loans
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Carrying value	1,417,600,000			1,355,800,000
Loans and Borrowings | Senior EUR/USD loans | Level 2
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Fair value	1,342,500,000			1,360,800,000
Loans and Borrowings | Other borrowings [Domain]
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Fair value	100,000			100,000
Carrying value	100,000			100,000
Loans and Borrowings | Twenty Twenty-Eight Fixed Rate Senior Secured Notes
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Carrying value	800,000,000			800,000,000
Loans and Borrowings | Twenty Twenty-Eight Fixed Rate Senior Secured Notes | Level 1
Disclosure Of Financial Assets And Liabilities [Table] [Line Items]
Fair value	€ 632,200,000			€ 802,600,000

Provisions - Schedule (Details)

Provisions - Schedule (Details) - EUR (€) € in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Disclosure of other provisions [line items]
Other provisions at beginning of period	€ 42.2
Additional provision in the period	2.2
Release of provision	(1.3)
Utilization of provision	(3)
Foreign exchange	0.7
Other provisions at end of period	40.8
Current	37.5	€ 39.3
Non-current	3.3	2.9
Provisions	40.8	€ 42.2
Restructuring
Disclosure of other provisions [line items]
Other provisions at beginning of period	5.6
Additional provision in the period	0.4
Release of provision	0
Utilization of provision	(1.7)
Foreign exchange	(0.1)
Other provisions at end of period	4.2
Provisions related to other taxes
Disclosure of other provisions [line items]
Other provisions at beginning of period	7.9
Additional provision in the period	0
Release of provision	0
Utilization of provision	(0.1)
Foreign exchange	0
Other provisions at end of period	7.8
Other
Disclosure of other provisions [line items]
Other provisions at beginning of period	28.7
Additional provision in the period	1.8
Release of provision	(1.3)
Utilization of provision	(1.2)
Foreign exchange	0.8
Other provisions at end of period	€ 28.8

Provisions - Additional Informa

Provisions - Additional Information (Details) - EUR (€) € in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Disclosure of other provisions [line items]
Other provisions	€ 40.8	€ 42.2
Provision used, other provisions	3
Restructuring
Disclosure of other provisions [line items]
Other provisions	€ 4.2	5.6
Estimated completion of activities	12 months
Provision used, other provisions	€ 1.7
Other
Disclosure of other provisions [line items]
Other provisions	28.8	28.7
Provision used, other provisions	1.2
Provisions related to other taxes
Disclosure of other provisions [line items]
Other provisions	7.8	€ 7.9
Provision used, other provisions	€ 0.1

Employee Benefits (Details)

Employee Benefits (Details) - EUR (€) € in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Employee Benefits [Abstract]
Net defined benefit liability (asset) at beginning of period	€ 244.2
Service cost	3.1
Net interest expense	1.4
Actuarial gains on pension scheme valuations	(83)
Benefits paid	(3.7)
Foreign exchange differences on translation	(2.7)
Net defined benefit liability (asset) at end of period	€ 159.3
Germany
Disclosure of defined benefit plans [line items]
Actuarial assumption of discount rates	3%	1.10%
Sweden
Disclosure of defined benefit plans [line items]
Actuarial assumption of discount rates	3.80%	1.80%

Share based compensation rese_3

Share based compensation reserve - Director and Senior Management Share Awards (Details) - Restricted shares - shares	1 Months Ended	6 Months Ended
	Sep. 30, 2019	Jun. 30, 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of other equity instruments outstanding (in shares) at beginning of period		2,016,855
New awards granted in the period (in shares)		1,134,518
Forfeitures in the period (in shares)		(16,558)
Awards vested and issued in period (in shares)		(237,800)
Number of other equity instruments outstanding (in shares) at end of period		2,897,015
New awards granted in the period (in shares)		1,134,518
Management Award 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
New awards granted in the period (in shares)	173,293
New awards granted in the period (in shares)	173,293
January 1, 2018
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of other equity instruments outstanding (in shares) at beginning of period		431,790
New awards granted in the period (in shares)		0
Forfeitures in the period (in shares)		0
Awards vested and issued in period (in shares)		(237,800)
Number of other equity instruments outstanding (in shares) at end of period		193,990
New awards granted in the period (in shares)		0
January 1, 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
New awards granted in the period (in shares)		0
New awards granted in the period (in shares)		0
January 1, 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
New awards granted in the period (in shares)		0
New awards granted in the period (in shares)		0
January 1, 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of other equity instruments outstanding (in shares) at beginning of period		787,277
New awards granted in the period (in shares)		0
Forfeitures in the period (in shares)		(10,115)
Awards vested and issued in period (in shares)		0
Number of other equity instruments outstanding (in shares) at end of period		777,162
New awards granted in the period (in shares)		0
Management Award 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of other equity instruments outstanding (in shares) at beginning of period		645,093
Forfeitures in the period (in shares)		(6,443)
Awards vested and issued in period (in shares)		0
Number of other equity instruments outstanding (in shares) at end of period		638,650
Management Award 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of other equity instruments outstanding (in shares) at beginning of period		152,695
Forfeitures in the period (in shares)		0
Awards vested and issued in period (in shares)		0
Number of other equity instruments outstanding (in shares) at end of period		152,695
January 1, 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of other equity instruments outstanding (in shares) at beginning of period		0
New awards granted in the period (in shares)		964,518
Forfeitures in the period (in shares)		0
Awards vested and issued in period (in shares)		0
Number of other equity instruments outstanding (in shares) at end of period		964,518
New awards granted in the period (in shares)		964,518
Other awards
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of other equity instruments outstanding (in shares) at beginning of period		0
New awards granted in the period (in shares)		170,000
Forfeitures in the period (in shares)		0
Awards vested and issued in period (in shares)		0
Number of other equity instruments outstanding (in shares) at end of period		170,000
New awards granted in the period (in shares)		170,000

Share based compensation rese_4

Share based compensation reserve - Director and Senior Management Share Awards (Narrative) (Details) $ / shares in Units, € in Millions, $ in Millions

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

Mar. 31, 2022 shares

Jan. 31, 2022 shares

Feb. 28, 2021 shares

Jan. 31, 2021 shares

Jan. 31, 2020 shares

Sep. 30, 2019 shares

Jun. 30, 2022 EUR (€)

Jun. 30, 2021 EUR (€)

Jun. 30, 2022 EUR (€) shares

Jun. 30, 2021 EUR (€)

Dec. 31, 2021 shares $ / shares

Jun. 30, 2022 $ / shares

Mar. 01, 2022 $ / shares

Jan. 01, 2022 EUR (€)

Jan. 01, 2022 USD ($)

Feb. 01, 2021 $ / shares

Jan. 01, 2021 EUR (€)

Jan. 01, 2021 USD ($) $ / shares

Jan. 01, 2020 EUR (€)

Jan. 01, 2020 USD ($)

Jan. 01, 2019 EUR (€)

Jan. 01, 2019 USD ($)

Jan. 01, 2018 EUR (€)

Jan. 01, 2018 USD ($)

Disclosure of terms and conditions of share-based payment arrangement [line items]

Key management personnel compensation | €

€ 2.6

€ 0.4

€ 3.6

€ 0.8

Ordinary shares

Disclosure of terms and conditions of share-based payment arrangement [line items]

Shares issued, price per share (in dollars per share) | $ / shares

$ 24.5

$ 26.23

January 1, 2018

Disclosure of terms and conditions of share-based payment arrangement [line items]

Weighted average fair value at measurement date, other equity instruments granted

€ 1.3

$ 1.6

January 1, 2021

Disclosure of terms and conditions of share-based payment arrangement [line items]

Weighted average fair value at measurement date, other equity instruments granted

€ 5.8

$ 7

January 1, 2022

Disclosure of terms and conditions of share-based payment arrangement [line items]

Weighted average fair value at measurement date, other equity instruments granted

€ 6.4

$ 6.7

Other awards

Disclosure of terms and conditions of share-based payment arrangement [line items]

Weighted average fair value at measurement date, other equity instruments granted

€ 3.5

$ 3.6

January 1, 2019

Disclosure of terms and conditions of share-based payment arrangement [line items]

Weighted average fair value at measurement date, other equity instruments granted

€ 1.2

$ 1.4

January 1, 2020

Disclosure of terms and conditions of share-based payment arrangement [line items]

Weighted average fair value at measurement date, other equity instruments granted

€ 4.3

$ 4.8

Restricted shares

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of other equity instruments exercised or vested in share-based payment arrangement (in shares)

237,800

New awards granted in the period (in shares)

1,134,518

Restricted shares | Management Award 2019

Disclosure of terms and conditions of share-based payment arrangement [line items]

Award vesting period

3 years

New awards granted in the period (in shares)

173,293

Restricted shares | Management Award 2020

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of other equity instruments exercised or vested in share-based payment arrangement (in shares)

761,979

Restricted shares | Management Award 2016

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of other equity instruments exercised or vested in share-based payment arrangement (in shares)

1,041,953

Liabilities from share-based payment transactions (in shares)

454,320

Shares issued, price per share (in dollars per share) | $ / shares

$ 25.42

Restricted shares | Management Award 2016 | Ordinary shares

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of other equity instruments exercised or vested in share-based payment arrangement (in shares)

587,633

Restricted shares | Management Award 2017 [Member]

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of other equity instruments exercised or vested in share-based payment arrangement (in shares)

451,719

368,154

Liabilities from share-based payment transactions (in shares)

180,268

150,926

Shares issued, price per share (in dollars per share) | $ / shares

$ 25.89

$ 25.42

Restricted shares | Management Award 2017 [Member] | Ordinary shares

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of other equity instruments exercised or vested in share-based payment arrangement (in shares)

271,451

217,228

Restricted shares | January 1, 2018

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of other equity instruments exercised or vested in share-based payment arrangement (in shares)

237,800

Liabilities from share-based payment transactions (in shares)

99,990

Shares issued, price per share (in dollars per share) | $ / shares

$ 25.17

Restricted shares | January 1, 2018 | Ordinary shares

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of other equity instruments exercised or vested in share-based payment arrangement (in shares)

137,810

Restricted shares | January 1, 2021

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of other equity instruments exercised or vested in share-based payment arrangement (in shares)

820,202

Restricted shares | January 1, 2022

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of other equity instruments exercised or vested in share-based payment arrangement (in shares)

964,518

Restricted shares | January 1, 2018

Disclosure of terms and conditions of share-based payment arrangement [line items]

Number of other equity instruments exercised or vested in share-based payment arrangement (in shares)

237,800

New awards granted in the period (in shares)

0

Restricted shares | Key management personnel of entity or parent | Share-based Compensation Award, Tranche Two

Disclosure of terms and conditions of share-based payment arrangement [line items]

Award vesting rights, percentage

50%

Restricted shares | Key management personnel of entity or parent | Share-based Compensation Award, Issue Six, Seven, Eight | Share price

Disclosure of terms and conditions of share-based payment arrangement [line items]

Award vesting rights, percentage

2,500%

Restricted shares | Key management personnel of entity or parent | Share-based Compensation Award, Issue Six, Seven, Eight | EBITDA and Cumulative Net Sales

Disclosure of terms and conditions of share-based payment arrangement [line items]

Award vesting rights, percentage

3,750%

Share based compensation rese_5

Share based compensation reserve - Valuation Assumptions (Details) - Restricted shares	6 Months Ended
	Jun. 30, 2022 $ / shares
January 1, 2018
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date price	$ 16.72
Exercise price	$ 0
Expected volatility of the share price	22.70%
Dividend yield expected	0%
Risk free rate	2.55%
Employee exit rate	14%
EBITDA Performance Target Conditions	35%
January 1, 2018 | Bottom of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected life of restricted share	1 year 6 months
January 1, 2018 | Top of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected life of restricted share	4 years
January 1, 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date price	$ 20.15
Exercise price	$ 0
Expected life of restricted share	4 years
Expected volatility of the share price	24%
Dividend yield expected	0%
Risk free rate	1.33%
Employee exit rate	14%
EBITDA Performance Target Conditions	35%
January 1, 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date price	$ 22.37
Exercise price	$ 0
Expected life of restricted share	4 years
Expected volatility of the share price	24.40%
Dividend yield expected	0%
Risk free rate	1.70%
Employee exit rate	27.30%
EBITDA Performance Target Conditions	35%
January 1, 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date price	$ 25.42
Exercise price	$ 0
Expected life of restricted share	3 years
Expected volatility of the share price	30%
Dividend yield expected	0%
Risk free rate	0.24%
Employee exit rate	14%
EBITDA Performance Target Conditions	35%
January 1, 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date price	$ 25.39
Exercise price	$ 0
Expected life of restricted share	3 years
Expected volatility of the share price	28%
Dividend yield expected	0%
Risk free rate	1.15%
Employee exit rate	14%
EBITDA Performance Target Conditions	35%

Share based compensation rese_6

Share based compensation reserve - Non-Executive Director Restricted Share Awards (Details) $ / shares in Units, € in Millions			3 Months Ended		6 Months Ended
	Jun. 30, 2021 $ / shares	Jun. 17, 2020 $ / shares shares	Jun. 30, 2022 EUR (€)	Jun. 30, 2021 EUR (€)	Jun. 30, 2022 USD ($) shares	Jun. 30, 2022 EUR (€) shares	Jun. 30, 2021 EUR (€)
Non-Executive Director
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of other equity instruments exercised or vested in share-based payment arrangement (in shares)	24,759	32,140			24,406	24,406
Liabilities from share-based payment transactions (in shares)		7,734
Restricted shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of other equity instruments exercised or vested in share-based payment arrangement (in shares)					237,800	237,800
New awards granted in the period (in shares)					1,134,518	1,134,518
Restricted shares | Non-Executive Director
Disclosure of terms and conditions of share-based payment arrangement [line items]
Other equity instruments granted in share-based payment arrangement, per director | $					$ 100,000
Expense from share-based payment transactions with employees | €			€ 0.1	€ 0.3		€ 0.3	€ 0.4
Shares issued, price per share (in dollars per share) | $ / shares	$ 28.27	$ 21.78

Share based compensation rese_7

Share based compensation reserve - Reserve Summary (Details) € in Millions	6 Months Ended
	Jun. 30, 2022 EUR (€)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Reserve of share-based payments	€ 6.9
Reserve of share-based payments	10.4
Share based compensation reserve
Disclosure of terms and conditions of share-based payment arrangement [line items]
Reserve of share-based payments	6.9
Reserve of share-based payments	10.4
Share based compensation reserve | Non-Executive Director
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based payment charge	0.3
Share based compensation reserve | Key Management Personnel Of Entity Or Parent, Reclassification to tax liability
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based payment charge	(0.4)
Share based compensation reserve | January 1, 2019 | Key management personnel of entity or parent
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based payment charge	0.2
Share based compensation reserve | January 1, 2020 | Key management personnel of entity or parent
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based payment charge	0.7
Share based compensation reserve | January 1, 2021 | Key management personnel of entity or parent
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based payment charge	1
Share based compensation reserve | January 1, 2022 | Key management personnel of entity or parent
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based payment charge	1.2
Share based compensation reserve | Other awards | Key management personnel of entity or parent
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share based payment charge	€ 0.5

Share Capital and Capital res_3

Share Capital and Capital reserve - Narrative (Details)			5 Months Ended		6 Months Ended
	Aug. 05, 2021 USD ($)	Jan. 02, 2019	Dec. 31, 2021 EUR (€) shares	Dec. 31, 2021 USD ($) shares	Jun. 30, 2022 EUR (€) shares	Jun. 30, 2022 USD ($) shares	Jun. 30, 2021 EUR (€)	Jun. 30, 2021 $ / shares	Jun. 30, 2022 $ / shares	Dec. 31, 2021 $ / shares
Disclosure of classes of share capital [line items]
Percentage increase in dividend price		20%
Dividends recognised as distributions to owners per share (in dollars per share) | $ / shares								$ 25.2127
Preference shares, dividend payment terms, weighted average share price, minimum term required					10 days	10 days
Other reserves			€ 10,500,000		€ 38,500,000
Purchase of treasury shares | $	$ 500,000,000
Payments to acquire or redeem entity's shares					26,800,000		€ 10,500,000
Cash flow hedges
Disclosure of classes of share capital [line items]
Other reserves			10,900,000		40,700,000
Cost of hedging reserve
Disclosure of classes of share capital [line items]
Reserve of change in value of forward elements of forward contracts			(400,000)		€ (2,200,000)
Ordinary shares
Disclosure of classes of share capital [line items]
Shares issued, price per share (in dollars per share) | $ / shares									$ 26.23	$ 24.5
Transaction costs			€ 0.1
Number of shares repurchased | shares			3,090,082	3,090,082	1,160,547	1,160,547
Payments to acquire or redeem entity's shares			€ 67.1	$ 75.8	€ 26.8	$ 30.5
Ordinary shares | Issued Capital and Capital Reserve
Disclosure of classes of share capital [line items]
Par value per share (in usd per share) | $ / shares									10	10
Founder Preferred shares | Issued Capital and Capital Reserve
Disclosure of classes of share capital [line items]
Par value per share (in usd per share) | $ / shares									$ 10	$ 10

Share Capital and Capital res_4

Share Capital and Capital reserve - Schedule (Details) - EUR (€) € in Millions	Jun. 30, 2022	Dec. 31, 2021
Disclosure of classes of share capital [line items]
Total share capital and capital reserve	€ 1,625.2	€ 1,650.2
Listing and share transaction costs	(27.1)	(27.1)
Total net share capital and capital reserve	1,598.1	1,623.1
Ordinary shares
Disclosure of classes of share capital [line items]
Total share capital and capital reserve	1,614.6	1,639.6
Founder Preferred shares
Disclosure of classes of share capital [line items]
Total share capital and capital reserve	€ 10.6	€ 10.6
Issued Capital and Capital Reserve | Ordinary shares
Disclosure of classes of share capital [line items]
Issued and fully paid (in shares)	172,536,436	173,559,173
Issued Capital and Capital Reserve | Founder Preferred shares
Disclosure of classes of share capital [line items]
Issued and fully paid (in shares)	1,500,000	1,500,000

Related parties (Details)

Related parties (Details) € in Millions		3 Months Ended		6 Months Ended
	Jan. 01, 2022 USD ($)	Jun. 30, 2022 EUR (€)	Jun. 30, 2021 EUR (€)	Jun. 30, 2022 EUR (€)	Jun. 30, 2021 EUR (€)
Non-Executive Director
Disclosure of transactions between related parties [line items]
Fees and expenses		€ 0.1	€ 0.1	€ 0.2	€ 0.2
Mariposa Capital and TOMS Capital | Affiliate of Founder Entities
Disclosure of transactions between related parties [line items]
Fees and expenses		€ 1.1	€ 0.4	€ 1.9	€ 0.8
Services Agreement, Annual Fee, Related Party Transactions | $	$ 4

Subsequent events after the S_2

Subsequent events after the Statement of Financial Position date (Details) € in Millions, $ in Millions	Aug. 05, 2021 USD ($)	Jun. 30, 2022 EUR (€)	Jul. 09, 2021 EUR (€)	Jun. 24, 2021 EUR (€)
Events after Reporting Period [Line Items]
Purchase of treasury shares | $	$ 500
Twenty Twenty-Eight Fixed Rate Senior Secured Notes
Events after Reporting Period [Line Items]
Notional amount | €		€ 750	€ 50	€ 750
Interest rate		2.50%	2.50%