What caused NOMD's earnings decline in 2024?

Nomad Foods' earnings decline in 2024 can be attributed to several factors:

1. ERP Disruption: The implementation of the Enterprise Resource Planning (ERP) system caused temporary disruptions, leading to a reduction in the full-year 2024 guidance. Nomad Foods had originally expected organic revenue growth of 3% to 4%, but after the ERP disruption, this was lowered to 1% to 2%.
2. Gross Margin Decrease: There was a decrease of 200 basis points in the gross margin to 26.9%. This was due to the anticipated impact from the balance sheet inventory revaluation caused by lower inflation, which offset the positive contributions from a favorable mix and higher productivity.

In summary, Nomad Foods' earnings decline in 2024 was primarily caused by the ERP disruption, which led to a reduction in growth guidance, and the decrease in gross margin.