Magnum Ice Cream tops earnings forecasts as cost cuts kick in
Strong Financial Performance and Market Growth
Half-Year Earnings Surpass Expectations
July 30 (Reuters) - Magnum Ice Cream reported half-year core earnings above market expectations on Thursday, driven by cost cuts following its December spin-off from Unilever, and said trading remained strong at the start of the key summer season.
Sales Performance by Brand and Region
Ben & Jerry's Outpaces Market
Sales of Ben & Jerry's grew 9.2% in the second quarter of 2026, outperforming the broader market in North America and gaining market share, Magnum said.
CEO Comments on Regional Growth
"Our key summer selling season got off to a strong start," CEO Peter ter Kulve said in a press release. "We grew and gained share in all regions, including the U.S., our biggest market."
Strategic Context and Market Challenges
Amsterdam Listing and Market Adaptation
Magnum's Amsterdam listing has been seen as a test of its ability to boost sales of its Cornetto cones and Ben & Jerry's ice creams at a time when GLP-1 weight-loss drugs reshape consumer tastes and as the Trump administration promotes a "Make America Healthy Again" campaign in the United States.
Cost Reductions Drive Earnings
Supply-Chain and Corporate Transformation
The group cited supply-chain and corporate-transformation cost reductions as drivers of first-half earnings growth.
Adjusted Earnings and Analyst Consensus
Its adjusted earnings before interest, taxes, depreciation and amortisation rose to €880 million ($1.0 billion) from €853 million a year ago. That beat analysts' consensus of €843 million provided by the company.
Additional Information
($1 = 0.8735 euros)
(Reporting by Dimitri Rhodes in Gdansk, editing by Milla Nissi-Prussak and Matt Scuffham)
