Magnum Reports Strong First-Half Earnings Amid Heatwave-Driven Demand
The Magnum Ice Cream Company (MICC) reported first-half core earnings above analyst expectations on July 30, driven by cost reductions following its spinoff from Unilever and a heatwave that boosted ice cream sales. Revenue rose to €4.7 billion with organic growth of 4.7% across all regions. Adjusted EBIT increased 7.5% to €716 million. Ben & Jerry's led the performance, achieving mid-single-digit growth overall and nearly 9.2% in Q2 due to new product formats attracting fresh customers. The company also benefited from a productivity program launched in 2024 that saved €90 million through supply chain improvements and waste reduction. Despite separation costs reducing net profit to €349 million, Magnum reaffirmed its full-year guidance of 3% to 5% organic sales growth. The stock was trading near an all-time high ahead of the earnings report, up nearly 19% year-to-date. However, a pending antitrust review in Türkiye adds regulatory uncertainty.
Tickers: $UL
Topics: cost cuts ice cream organic growth summer sales