First-half revenue came in at €4.7bn (€4.6bn expected), up 4.7% on an organic basis, with all regions contributing positively. Volumes rose 2.5%, with higher prices contributing the remainder.
Adjusted cash profit (EBITDA) rose at a slightly slower pace of 3.2% to €0.9bn (€0.9bn expected), as margins were weighed down by the India acquisition, while cost inflation was offset by productivity savings.
Free cash flow increased from €138mn to €273mn. Net debt rose from €3.0bn to €3.3bn, largely due to acquisitions.
For 2026, organic sales growth is still expected to be between 3-5%, and underlying cash profit margins are expected to improve by 0.4-0.6 percentage points.
The shares fell 4.2% in early trading.
Our view
HL view to follow.
The Magnum Ice Cream Company key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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