magnum pakt klappen na beursdebuut door fusiekosten
Amsterdam, donderdag, 12 februari 2026.
het ijsconcern magnum ziet zijn nettowinst bijna halveren naar 307 miljoen euro in 2025, vooral door eenmalige kosten van 318 miljoen euro rond de afsplitsing van unilever. de omzet bleef stabiel op 7,9 miljard euro, maar de vrije kasstroom daalde dramatisch van 803 miljoen naar slechts 38 miljoen euro. ondanks de tegenvallende cijfers blijft ceo peter ter kulve positief en noemt de koersdaling ‘allemaal ruis’. magnum verwacht dit jaar een organische omzetgroei van 3 tot 5 procent, los van overnames en wisselkoersinvloeden. het bedrijf noteert sinds december 2025 zelfstandig op de beurs en richt zich op groei onafhankelijk van unilever, terwijl merken als ben & jerry’s en cornetto operationeel blijven groeien.
net profit decline due to separation costs
Magnum reported a net profit of €307 million for 2025, down sharply from €595 million in 2024 [1]. This represents a decrease of -48.403, approximately 48.4% [2]. The drop is primarily attributed to one-time charges totaling €318 million linked to its legal and operational separation from Unilever [1]. Despite lower profitability, the company maintained stable revenue at €7.9 billion [2]. Analysts expected smoother financial transitions post-spinoff [alert! ‘analyst expectations not quantified in sources’].
cash flow strain amid market debut
The spin-off significantly impacted Magnum’s cash position. Free cash flow plunged from €803 million in 2024 to just €38 million in 2025 [2]. This sharp contraction reflects substantial outflows tied to restructuring and establishing independent operations [1]. Net debt rose to nearly €3 billion following the December 2025 listing on Euronext Amsterdam [2]. While revenue remained flat, adjusted for currency effects, underlying sales improved slightly [1]. Investors reacted negatively to the weakened liquidity outlook [3].
stock falls after disappointing results
Magnum shares dropped 15% on February 12, 2026, following the release of its first annual report as an independent entity [2]. The decline came despite earlier optimism surrounding its market debut on December 8, 2025 [1]. The adjusted EBITDA margin fell to 15.9% from 16.8% the previous year [2]. JPMorgan expects margins to stabilize around 16% in 2026 [2]. Analysts cite integration costs and tighter capital metrics as key concerns influencing investor sentiment [2].
ceo remains confident amid volatility
Chief executive Peter ter Kulve dismissed short-term market fluctuations, calling them “all noise” regarding the dispute with Ben & Jerry’s [2]. He emphasized confidence in the new management team at Ben & Jerry’s, stating the brand is performing well [2]. Ter Kulve reaffirmed Magnum’s guidance for organic sales growth of 3% to 5% in 2026, excluding acquisitions and exchange rate impacts [2]. The company continues to leverage strong brands such as Cornetto and Wall’s to drive expansion independently of Unilever [4].
growth forecast amid sector uncertainty
Industry projections suggest global ice cream demand could grow between 3% and 4% annually despite macroeconomic headwinds [2]. Magnum aligns with this trend, targeting similar top-line increases through product innovation and geographic reach [2]. Challenges remain, including changing consumer habits influenced by health trends and medications affecting appetite [2]. However, the firm believes its diversified portfolio insulates it against regional or category-specific downturns [4]. Long-term value creation depends on improving operational efficiency and margin recovery [2].