Finance
Magnum Ice Cream expects free cash flow of up to 1 billion euros in 2028-29
Published by Global Banking and Finance Review
Posted on December 3, 2025
2 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on December 3, 2025
2 min readLast updated: January 20, 2026
Magnum Ice Cream, spinning off from Unilever, expects €1 billion cash flow by 2028-29, listing in Amsterdam to become the largest standalone ice cream business.
Dec 3 (Reuters) - Unilever's ice cream business, which is spinning off and listing in Amsterdam next week, expects to achieve free cash flow between 800 million and 1 billion euros ($933.2 million to $1.17 billion) in 2028-29, it said on Wednesday.
The Magnum Ice Cream Company will become the world's biggest standalone ice cream business, home to brands including Wall's, Ben & Jerry's and Cornetto, commanding more than a fifth of the $87 billion global ice cream market.
Magnum is betting on the allure of indulgent snacks and the listing will test investor appetite for a sugar-heavy product at a time when GLP-1 weight loss drugs have shaken up consumer trends and U.S. President Donald Trump is pushing a 'Make America Healthy Again' campaign.
The company also expects to maintain a debt ratio of between 2 and 2.5 times adjusted core profit for the foreseeable future, it said in a prospectus.
The company expects a sole focus on ice cream to improve efficiency and productivity, helping it to manage greater exposure to raw materials price fluctuations and to compete more effectively with rivals such as Nestle-backed Froneri.
Magnum is also inheriting the Ben & Jerry's brand from Unilever, and with it a relationship that has soured in the past few years. Magnum said on Tuesday that the Ben & Jerry's Foundation, a U.S.-based charitable group funded by the brand, must address deficiencies in financial controls and governance to maintain full funding.
($1 = 0.8573 euros)
(Reporting by Dimitri Rhodes and Alexander MarrowEditing by Louise Heavens and David Goodman)
Free cash flow is the cash generated by a company's operations after accounting for capital expenditures. It indicates the company's ability to generate additional cash that can be used for expansion, dividends, or debt reduction.
The debt ratio is a financial ratio that measures the proportion of a company's total debt to its total assets. It indicates the level of financial leverage and the company's ability to meet its long-term obligations.
Indulgent snacks refer to food items that are rich, flavorful, and often high in sugar or fat. They are typically consumed for pleasure rather than nutritional value and are popular in the snack food industry.
The global ice cream market encompasses all sales and consumption of ice cream products worldwide. It is a significant segment of the food industry, valued at approximately $87 billion.
A prospectus is a formal document that provides details about an investment offering to potential investors. It typically includes information about the company's business, financials, risks, and the terms of the investment.
Explore more articles in the Finance category
