LONDON, Feb 12 (Reuters) – The Magnum Ice Cream Company reported a 48.4% drop in full-year net profit on Thursday, driven by separation, restructuring and finance costs as the company finalised its spinoff from Unilever to list in December.
Net profit fell to 307 million euros ($364.3 million) last year from 595 million euros in 2024, the company said in a statement.
Magnum’s Amsterdam listing was seen by some as a test of its ability to lure consumers to indulgent snacks like its Cornetto cones and Ben & Jerry’s ice creams at a time when GLP-1 weight-loss drugs have shaken up consumer trends and the Trump administration is pushing a “Make America Healthy Again” campaign in the United States.
Revenue for the year was largely flat at 7.9 billion euros, and CEO Peter Ter Kulve pointed to improving sales and volume growth as signs of the company’s “solid operational performance”.
Magnum maintained its 2026 outlook of organic sales growth of 3% to 5% and underlying margin improvement.
Free cash flow for the full-year slumped to 38 million euros, down from 803 million euros the year before. Magnum attributed that to the significant cash outflows related to the demerger, the impact of implementing its interim operating model, interest costs on new loans, and transitional services agreements with Unilever.
($1 = 0.8428 euros)
(Reporting by Alexander Marrow; Editing by Louise Heavens and Joe Bavier)
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