The Magnum Ice Cream Company reported flat sales and lower profits as it completed its demerger from Unilever and established standalone listings in Amsterdam, London and New York.
Revenue was €7.9 billion, down 0.5% year on year to reflect a 4.3% foreign exchange headwind. Organic sales growth was 4.2%, with volume growth of 1.5% and price growth 2.6%.
Operating profit fell to €599 million from €764 million, mainly due to higher separation and restructuring costs and currency effects.
Adjusted EBITDA margin fell 100 basis points to 15.9% reflecting forex swings and costs of its transitional service agreements with Unilever.
Free cash flow dropped to €38 million from €803 million, largely due to €564 million of demerger-related outflows and higher interest and TSA costs.
Chief executive Peter Ter Kulve said: “We delivered a solid operational performance in 2025, with broad-based organic sales growth of 4.2%, outperforming the growing global ice cream market and consolidating our leading position whilst we delivered a complex company separation.”
For 2026, the group expects organic sales growth of 3% to 5% and an adjusted EBITDA margin improvement of 40 to 60 basis points, weighted to the second half.