European frozen foods giant Nomad Foods posted a 15 percent increase in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA).

The company, which holds the Birds Eye, Iglo and Findus brands, posted adjusted EBITDA of €432 million ($472.9 million) taking into account IFRS 16, a new lease accounting standard that requires certain operating leases to be capitalized on the balance sheet.

Revenue over the twelve month period increased 7 percent to €2.324