30th Apr 2026 11:31
(Alliance News) - Magnum Ice Cream Co NV on Thursday said its productivity programme was on track for the full year, as it noted increased uncertainty due to the situation in the Middle East.
The Amsterdam-based ice cream company spun off from Unilever PLC and owner of Magnum, Ben & Jerry's and Cornetto brands said revenue fell 1.2% in the first quarter to EUR1.77 billion from EUR1.79 billion a year ago.
However, organic sales growth was 4.5% in the first quarter, higher than 3.8% in the first quarter of 2025. Magnum cited foreign exchange translation effects having a negative effect of 5.5% as reason why revenue was lower.
Looking ahead, the company expects organic sales growth between 3% and 5% for 2026, with adjusted earnings before interest, tax, depreciation and amortisation margin improvement of 40 to 60 basis points compared to 2025.
Magnum said: "Whilst we are mindful of the heightened uncertainty in the global environment, particularly in the Middle East and the associated knock-on effects to inputs costs, our direct regional exposure remains limited, and we are taking mitigating actions. Our focus is on executing our growth strategy and productivity programme, and we are reaffirming our full year outlook."
Chief Executive Officer Peter Ter Kulve said: "The productivity programme is on track for the full year, the acquisitions of India and Portugal were completed as planned, and we remain on course to finalise our TSA exits by end of 2027.
He added: "We are well set up for the summer season, and our focus remains on executing our growth strategy and productivity programme. We are reaffirming our full-year outlook: organic sales growth of 3-5% with underlying margin improvement."
Magnum shares rose 12% to 1,082.09 pence each on Thursday morning in London.
By Tom Budszus, Alliance News slot editor
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