The Magnum Ice Cream Company (LSE:MICC) raised its full-year organic sales growth outlook to approximately 5.5%, up from a prior range of 3% to 5%, after third-quarter organic growth accelerated to 9.6%.
The Amsterdam-based ice cream maker, whose brands include Magnum, Ben & Jerry's and Cornetto, reported third-quarter revenue of €2.5 billion, up 12.1% from €2.2 billion in the same quarter of 2025.
Growth was volume-led: organic volume rose 7.3% and price contributed 2.2%, versus the third quarter of 2025 when volume fell 0.1% and price drove all the gain.
All three regions grew, with AMEA the standout at 17.6% organic sales growth, Europe & ANZ up 8.9%, and the Americas up 3.9%.
Reported revenue growth included a 2.6% boost from the acquisitions of the India and Portugal businesses, completed on 30 March and 1 April respectively, against a 0.3% drag from currency, mainly the euro's strength against the Turkish lira.
Magnum and Heartbrand grew sales double-digit, led by the Magnum La Pistache launch, which the company called the season's top ice cream innovation, and a relaunched Solero that delivered what the company termed exceptional growth in Europe.
Ben & Jerry's grew more than 9% for a second consecutive quarter, Cornetto grew high single-digit, and Yasso, the company's low-calorie frozen Greek yogurt line in the US, grew more than 30%.
Management flagged an estimated 2-3% boost to quarterly growth from an extended summer in Europe.
"We delivered strong performance in Q3, with volume-led growth ahead of the growing ice cream category," said chief executive Peter ter Kulve, adding that the result "extends our track record of share gains."
The company's productivity programme, launched in 2024 and targeting cumulative savings of €500 million by 2028, remains on track, with the first deployment wave of a global technology transformation set to begin in November across the UK, Ireland, Hungary and Romania.
Deutsche Bank noted in May that the company typically generates more than 70% of annual EBIT in the first half, making spring sell-in activity decisive for full-year profitability, and flagged that cocoa costs, hedged six to nine months ahead, may take time to flow through given European production peaks around year-end.
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For the full year, the company reaffirmed its guidance for adjusted EBITDA margin improvement of 40 to 60 basis points on a comparable perimeter basis, with productivity savings and operating leverage expected to offset higher oil and energy costs; reported adjusted EBITDA margin improvement is expected at 0 to 20 basis points, reflecting the India acquisition.
The company's Turkish subsidiary remains subject to an ongoing Turkish Competition Authority investigation into freezer-cabinet practices, opened in May, with an interim measure requiring that 30% of cabinet capacity in smaller retail outlets be allocated to competing products or left empty; the company said it is complying fully and continuing to cooperate.