The Magnum Ice Cream Company reported Q1 2026 revenue of €1.770bn (Q1 2025 €1.792bn) with organic sales growth (OSG) of 4.5% and reported revenue down 1.2% year‑on‑year due to a -5.5% FX translation effect.
Organic performance in the quarter comprised organic volume growth of 2.9% and organic price growth of 1.6%, and excluding royalties from India and Portugal the underlying OSG was 4.7% and OPG 1.8%. All three regions contributed positively to OSG with particular strength in the US and Europe and continued gains in AMEA.
The group highlighted progress across its four leading brands with Magnum delivering mid‑single digit OSG, Ben & Jerry’s flat, Cornetto low single‑digit and the Heartbrand high single‑digit growth. Currency movements were a material headwind in Q1, with FX translation subtracting -5.5% at group level and marking -7.6% in the Americas and -8.8% in AMEA.
The productivity programme is on track, all planned Q1 TSA exits were concluded on time, and the India and Portugal acquisitions completed on 30 March and 1 April and will be reflected from Q2 results.
Management said reported Adjusted EBITDA margin is expected to improve 0-20bps in 2026 on a reported basis and 40-60bps on a comparable perimeter, with benefits weighted to H2 due to TSA phasing and cocoa pricing.
Peter Ter Kulve, CEO, said: "We are reaffirming our full‑year outlook: organic sales growth of 3-5% with underlying margin improvement."
