TMICC reported solid operational performance in 2025 with sales of €7.9 billion, organic sales growth of 4.2%, and volume growth of 1.5%. Operating profit was €599 million, Adjusted EBITDA was €1,255 million, and Adjusted EBIT was €917 million. The company also completed a successful demerger and issued a debut €3 billion bond.

CEO Peter Ter Kulve highlighted strong brand performance, with Magnum, Ben & Jerry’s, Cornetto, and Heartbrand driving growth. Every region contributed to growth, with market share gains in key markets like the US. Despite challenges like currency effects and cash costs, the company remains focused on executing its growth strategy for 2026.

Group revenue in 2025 was €7.9 billion, with organic sales growth of 4.2%. Magnum, Ben & Jerry’s, Cornetto, and The Heartbrand were powerful growth drivers, delivering high single-digit to low single-digit organic sales growth. The fully dedicated sales force improved execution, and digital commerce was the fastest-growing channel, with double-digit growth.

Operating profit in 2025 was €599 million, impacted by separation and restructuring costs, and forex translation effects. Adjusted EBITDA was €1,255 million, with a margin of 15.9%, impacted by forex effects and higher cash costs from Transitional Service Agreements. Adjusted EBIT was €917 million, with a margin of 11.6%, also affected by forex effects. Free Cash Flow for FY2025 was €38 million. In 2025, ice cream group reported a net profit of €307 million, a decrease from the prior year due to higher separation and restructuring costs, finance costs, and monetary loss. Looking forward, the ice cream market is expected to grow between 3-4% in 2026 with organic sales growth estimated at 3-5% and an improved EBITDA margin.

The group accelerated market innovations in 2025 with Magnum Dubai Chocolate and Ben & Jerry’s new flavor combinations. They expanded their range with portion-controlled options, high protein Greek yogurt, and a new adult functional refreshment category. The productivity program delivered €180 million in savings in 2025, with cumulative savings of €250 million by year-end.

The group successfully completed the demerger from Unilever, listing independently in December 2025. The acquisition of Portugal and India is on track for completion in H1 2026. The transfer of the ice cream business in Indonesia was completed in December 2025. The group remains on course for finalizing all TSA exits by 2027. They will now provide company consensus on a half-year and full-year basis as a standalone listed entity. The Magnum Ice Cream Company will host a live webcast of their conference call, accessible on their website. The company, with a revenue of €7.9 billion in 2025, operates in 80 markets worldwide and is home to popular brands like Magnum and Ben & Jerry’s.

In Europe & ANZ, Magnum Ice Cream saw a 3.3% Organic Sales Growth, led by strong performances in the UK, France, and Spain. The company introduced innovative products like Magnum Bonbons and Cornetto Max to drive market share gains and revenue growth.

The Americas reported a 0.8% Organic Sales Growth, with the US brands Yasso and Ben & Jerry’s driving performance. Revenue declined by -4.5% due to negative forex translation effects, but the region saw improvements in market share and strategy realignment.

In AMEA, Magnum Ice Cream achieved 10.9% Organic Sales Growth, with strong performances in Türkiye and Pakistan. China and Indonesia also saw high single digit growth, while Thailand’s turnaround plans led to market share gains. The region’s revenue grew by 0.5% in 2025. Severe weather in the Philippines impacted performance, but reported revenue increased by 0.5% in 2025. Market-specific innovations, like Magnum Dubai and Cornetto Popcone, drove growth. Adjusted EBIT margin declined by 80bps due to external headwinds. Q4 revenue declined slightly, with a small drop in organic sales growth. Finance costs and taxation increased in 2025. Net debt rose to €2,967 million, primarily from a bond issuance. Pension assets increased, while deferred tax position improved. Other non-current assets rose to €186 million due to indirect tax payments. The amount owed to Unilever will be repaid as recovered from local tax authorities. A liability was recognized in payables. Other non-current assets include a €54 million prepayment to Unilever for the deferred transfer of Mexico sourcing unit assets. Trade receivables and payables increased due to the Transitional Period working capital arrangements.

The Group made a one-time payment of €905 million to Unilever for inventory retention. Indirect taxes and separation costs led to higher receivables. Provisions decreased by €63 million, mainly due to higher employee redeployment. The Group strengthened its financing structure in 2025 with term loan facilities totaling €4.0 billion.

Following the financings, financial liabilities increased to €3,416 million with an average debt maturity of 7.5 years. This announcement contains forward-looking statements concerning the Group’s financial condition, results, and business. Readers should not place undue reliance on these statements, as risks and uncertainties could impact outcomes. These include changes in consumer preferences, competitive innovation, raw material costs, and regulatory matters. The Group’s forward-looking statements are based on current beliefs, assumptions, and expectations, but actual results may differ due to various factors. The Group disclaims any obligation to update these statements as new risks and uncertainties arise over time.

Market data and industry information in the document are estimates compiled from various sources, including the Group’s own assessment. Rankings are based on sales figures unless stated otherwise.

Before July 1, 2025, the Group was part of Unilever and reported as an operating segment. Financial information in this announcement differs from historical reports due to changes in accounting and disclosure under IFRS.

Non-IFRS financial measures like OSG and Adjusted EBITDA are used in this announcement. These measures may not be comparable to others and should not be viewed in isolation from IFRS financial information.

Inside information in this announcement complies with Market Abuse Regulations. The financial information provided is preliminary and does not constitute full IFRS financial statements.

The Group resulted from the demerger of the Ice Cream Business owned by Unilever PLC. The demerger was completed with legal and transitional arrangements to support business continuity.

The separation of the Ice Cream business was a single economic event sequenced over several dates in 2025. It was accounted for under common control using the predecessor accounting method. Unilever’s consolidated financial statements for 2025 reflect the separation of its ice-cream business. The financials were prepared as if the business had always been part of the Group. All accounting policies remain consistent with previous years, following IFRS standards and using euros as the currency.

In 2025, Unilever reported a 0.5% decrease in revenue compared to 2024, with an operating profit decrease of 21.6%. Net profit fell by 48.4%, resulting in basic earnings per share of €0.48 and diluted earnings per share of €0.48. The consolidated balance sheet shows a decrease in assets and liabilities compared to 2024.

The consolidated cash flow statement for 2025 reveals a decrease in net cash flow from operating activities but an increase in cash and cash equivalents at the end of the year. Segmental reporting shows revenue and operating profit breakdowns by region, with varying EBIT margins. No material post-balance sheet events were reported. Non-IFRS financial measures such as constant currency and OSG are used for internal analysis and targeting purposes. The Group uses OVG and OPG to assess organic sales performance, excluding price changes. Revenue for FY2025 decreased by 0.5%, impacted by currency-related items and hyperinflationary markets. Adjusting items, like restructuring costs and impairments, are excluded for a clearer financial picture. Adjusted EBIT and EBITDA help evaluate overall performance. The Group provides a reconciliation of net profit to Adjusted EBIT and Adjusted EBITDA for FY2025 and FY2024. Adjusted EBIT is €917 million for FY2025, with a margin of 11.6%. Adjusted EBITDA is €1,255 million, with a margin of 15.9%. Adjusted EPS is calculated at €0.93 for FY2025.

Free Cash Flow (FCF) is defined as net cash flow from operating activities, less net capital expenditure and net interest payments. FCF for FY2025 is €388 million. FCF provides insight into the Group’s liquidity for dividends, debt repayment, or strategic initiatives. FCF for FY2024 was €803 million.

Net Debt is the excess of total financial liabilities over cash and cash equivalents. Net Debt for FY2025 is €2,967 million. This measure gives a summary of the Group’s net financial liabilities. Total financial liabilities for FY2024 were €3,416 million.

Adjusted Effective Tax Rate (Adjusted ETR) is calculated by dividing taxation excluding adjusting items by profit before tax excluding adjusting items. Adjusted ETR for FY2025 is 26.0%. This rate provides insight into the Group’s tax rate in relation to profit before tax. Adjusted ETR for FY2024 was 21.9%.

Read more at GlobeNewswire: 2025 Full Year Results