Magnum Ice Cream tops earnings forecasts as cost cuts kick in

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July 30, 2026 2:33 AM EDT

An employee works on the Twister ice cream production line at Unilever Wall's factory in Gloucester, Britain, November 21, 2025. REUTERS/Isabel Infantes

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 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.

"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."

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.

The group cited supply-chain and corporate-transformation cost reductions as drivers of first-half earnings growth.

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.

($1 = ​0.8735 euros)

(Reporting by Dimitri Rhodes in Gdansk, editing by Milla Nissi-Prussak and Matt ‌Scuffham)


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