Magnum Ice Cream Delivers 4.2% Organic Sales Growth, Strengthens Balance Sheet with €3bn Bond
Magnum Ice Cream posted FY2025 revenue of €7.9bn with 4.2% organic growth from 1.5% volume and 2.6% price increases, while reported revenue fell 0.5% on forex headwinds. Adjusted EBITDA margin slipped to 15.9% due to separation costs and forex, but €180m productivity savings plus €3bn bond issuance strengthen balance sheet.
1. Fiscal 2025 Results
Magnum Ice Cream reported flat reported revenue of €7.9 billion in FY2025, matching FY2024, but achieved 4.2% organic sales growth driven by 1.5% volume and 2.6% price increases. Reported revenue declined 0.5% due to negative foreign exchange translation, notably from a stronger euro against the US dollar and Turkish lira.
2. Profit and Margin Trends
Operating profit fell to €599 million from €764 million in the prior year, reflecting a planned €118 million increase in separation and restructuring costs. Adjusted EBITDA margin contracted to 15.9% (FY2024: 16.9%) and Adjusted EBIT margin to 11.6% (FY2024: 12.1%), each impacted by 50 basis points of forex translation headwinds and additional depreciation under Transitional Service Agreements.
3. Productivity and Financing
The company delivered €180 million of productivity programme savings in 2025, up from €70 million in 2024, helping to mitigate cost pressures. A debut €3 billion bond was significantly oversubscribed, securing long-term funding and bolstering liquidity following the demerger.
4. Strategic Progress and Outlook
The demerger and separate listings in Amsterdam, London and New York were completed, while four leading brands—Magnum, Ben & Jerry’s, Cornetto and Heartbrand—drove market share gains through 150 new product launches. Management forecasts 3%–5% organic sales growth in 2026 with underlying margin improvement.