UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
Dated April 30, 2026
Commission File Number: 001-42939
The Magnum Ice Cream Company N.V.
(Translation of registrant's name into English)
Reguliersdwarsstraat 63
1017 BK Amsterdam
The Netherlands
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ X ] Form 40-F [ ]
This report on Form 6-K contains a Stock Exchange Announcement dated April 30, 2026 entitled ‘Q1 2026 Trading Update’.
Q1
2026 Trading Update
Q1 2026 Trading Update
Solid start to the year, executing on strategy; FY guidance reaffirmed
Amsterdam, 30 April 2026
- Solid Q1 2026, with revenue of €1.770bn (Q1 2025 €1.792bn),
+4.5% organic sales growth (OSG) year-on-year
- Healthy contributions from volume growth +2.9% and price growth +1.6%
- Reported revenue growth down 1.2% year on year, due to foreign exchange
translation impact of -5.5%
- Good progress for the productivity programme during the quarter and on track
for the full year
- Acquisitions of India and Portugal completed on 30 March 2026 and 1 April
2026
| Highlights |
| In €,
percentage (unaudited) |
Q1
2026 |
Q1
2025 |
| Revenue (in €
billions) |
1.770 |
1.792 |
| Reported revenue growth |
-1.2% |
4.2% |
| Organic Sales Growth (a) |
4.5% |
3.8% |
| Organic Volume Growth |
2.9% |
1.4% |
| Organic Price Growth (a) |
1.6% |
2.4% |
(a) India and Portugal were not in the perimeter during the quarter and paid royalty for the use of
TMICC brands. This was recognised in Revenue, OSG and OPG. The underlying growth of The Magnum Ice Cream Company excluding these royalties
for Q1 2026 was OSG 4.7% and OPG 1.8%.
Peter Ter Kulve, CEO: "We have had an encouraging start to 2026 and the ice
cream category continues to grow. In Q1 organic sales grew across both volume and price, which is a testament to the breadth of our portfolio
and our competitive execution.
Every region contributed to positive growth, with strength in the US and Europe and
continued gains in AMEA. Our 'Frontline First' model is delivering across both At-Home and Away-from-Home; and Digital Commerce maintained
double-digit growth. Our innovations are bringing excitement to consumers and helping to drive overall category growth.
The productivity programme is on track for the full year, the acquisitions of India
and Portugal were completed as planned, and we remain on course to finalise our TSA exits by end of 2027.
We are mindful of the heightened uncertainty in the global environment, particularly
in the Middle East, albeit our direct regional exposure remains limited, and we are taking mitigating actions. More broadly, we are well
set up for the summer season, and our focus remains on executing our growth strategy and productivity programme. We are reaffirming our
full-year outlook: organic sales growth of 3-5% with underlying margin improvement."
| TMICC
Group performance review |
In Q1 2026, Group revenue was €1.770bn (Q1 2025: €1.792bn). Organic sales
growth for the quarter was 4.5%, reflecting a healthy contribution from both volume growth of 2.9% and price growth of 1.6%. All three
regions contributed positively to organic sales growth.
Reported revenue growth was down 1.2% in the quarter vs the previous year, as foreign
exchange translation effects had a negative impact of -5.5%. This was mainly driven by the strengthening of the Euro.
We maintained our focus on improving execution across all three channels – At-Home,
Away-from-Home and Digital. As we prepare for summer, we have driven better customer engagement, outlet activation and innovation roll-out
during the quarter; enabled by our ‘Front-line First’ model.
Our four leading brands – Magnum, Ben & Jerry’s, Cornetto and The Heartbrand
– saw good progress in the quarter contributing to the solid delivery:
- Magnum delivered mid-single digit organic sales growth
driven by the launch of Magnum Pistachio and Peach in the EU, China and Türkiye, and the further roll-out of the BonBons format
across multiple EU markets.
- Ben & Jerry’s was flat overall in Q1 as Americas
saw low single digit organic growth, while EU & ANZ declined on the back of double-digit growth in Q1 2025. The new Ben & Jerry’s
sandwich and bar formats were well received.
- Cornetto delivered low single-digit organic sales growth,
supported by the launch of Pistachio MAX in Europe and Türkiye.
- The Heartbrand delivered high single-digit organic
sales growth, driven by the launch of Twister Freeze, the Minecraft stick, the Volcanix five-layered stick and Solero BonBons across
several European markets, as well as the rollout of Grape Ice Balls across Southeast Asia, following their success in Thailand.
- Major new innovations, like the high protein, low fat
Yasso pints, highlighted the extensions possible through format, flavour, packaging, and partnerships across our portfolio.
Total distribution points continue to improve, as we expand through the value channel
in the US, drive partnerships in Quick Service Restaurants in Europe, and enhance freezer deployment in high growth markets. We continued
to make progress on our productivity programme, delivering savings across supply chain and organisational simplification.
We expect the increase in the cost of energy across the supply chain including raw materials,
energy, packaging and freight to be offset by tailwinds from commodities, our mitigating actions and productivity programme.
Whilst we are mindful of the heightened uncertainty in the global environment, particularly
in the Middle East and the associated knock-on effects to inputs costs, our direct regional exposure remains limited, and we are taking
mitigating actions. Our focus is on executing our growth strategy and productivity programme, and we are reaffirming our full year outlook.
We expect organic sales growth for 2026 to be between 3% to 5% and an Adjusted EBITDA
margin improvement of 40 to 60bps, on a comparable perimeter basis with 2025. The reported improvement in Adjusted EBITDA margin is expected
to be 0 to 20bps, primarily due to the impact of the acquisition of the India business. As communicated earlier, we expect the improvements
in the year to be weighted more in the second half of 2026 due to the phasing of TSAs and the benefits of cocoa pricing.
| TMICC
Group perimeter and TSA progress |
The acquisitions of India, and Portugal’s marketing and sales entity, were completed
on 30 March 2026 and 1 April 2026 respectively. The acquisition of the Portugal sourcing unit will complete separately, following receipt
of additional regulatory and operational approvals. Given the timing of completion, and the immaterial impact on Q1 2026, the results
of both businesses will be reflected in the Group’s reported results from Q2 2026 onwards.
All planned 2026 Q1 TSA exits were concluded on time, and we remain on course towards
finalising the remaining TSA exits by the end of 2027.
-ENDS-
Conference call and audio webcast
Peter ter Kulve, CEO, and Abhijit Bhattacharya, CFO, will host a conference for investors and analysts
at 11:00 am CET today, to discuss the Q1 2026 results. A live webcast of the conference call will be available on the Magnum Ice Cream
Company website and can be accessed The Magnum Ice Cream Company Q1 2026 Trading Update .
| Enquiries |
|
Media Relations
media.relations-tmicc@magnumicecream.com |
Investor Relations
investor.relations-tmicc@magnumicecream.com |
This announcement has been submitted to the FCA National Storage Mechanism and is available for
inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
About The Magnum Ice Cream Company
The Magnum Ice Cream Company N.V. [EURONEXT: MICC / NYSE: MICC / LSE: MICC) is the world's leading ice
cream business. Home to four of the world's five largest ice cream brands: Magnum, Ben & Jerry's, Cornetto and the Heartbrand, our
portfolio delights consumers in 80 markets around the world. Headquartered in Amsterdam, The Netherlands, we have a global team of 18,000
employees, a network of 32 factories, 13 R&D centres, and a fleet of three million freezer cabinets. For more information, visit
www.corporate.magnumicecream.com. TMICC's legal entity identifier is 25490052LLF3XH6G9847.
Segment performance (unaudited)
| EUROPE
& ANZ |
|
|
|
| In
€, percentage |
Q1
2026 |
Q1
2026
Excluding Royalties (a) |
Q1
2025 |
| Revenue
(in € billions) |
0.654 |
0.654 |
0.633 |
| Reported
revenue growth |
3.3% |
3.3% |
4.7% |
| Organic
Sales Growth |
4.0% |
4.6% |
4.6% |
| Organic
Volume Growth |
4.3% |
4.3% |
3.1% |
| Organic
Price Growth |
-0.3% |
0.3% |
1.5% |
(a) India and Portugal were
not in the perimeter during the quarter and paid royalty for the use of TMICC brands. This was recognised in Revenue, OSG and OPG. To
reflect the underlying performance of the region, OSG and OPG have been presented by excluding these royalties.
In Europe & ANZ we posted 4.0% OSG driven by volume growth of 4.3%, supported by
strong innovation and slightly offset by negative price growth of 0.3% in the quarter. The earlier timing of Easter provided a marginal
benefit. Germany and the UK delivered high single-digit growth, offsetting slower growth in Italy where we are improving distribution
and execution at the point of sale.
Magnum and the Heartbrand delivered high single-digit growth, supported by format innovations.
These included the launch of Magnum Cones in France, the successful rollout of Volcanix across markets, and the ongoing rollout of Solero
BonBons across France, Germany, Ireland, the UK, The Netherlands and Switzerland.
| AMERICAS |
|
|
| In
€, percentage |
Q1
2026 |
Q1
2025 |
| Revenue
(in € billions) |
0.636 |
0.671 |
| Reported
revenue growth |
-5.2% |
1.0% |
| Organic
Sales Growth |
2.6% |
2.0% |
| Organic
Volume Growth |
0.0% |
-0.8% |
| Organic
Price Growth |
2.6% |
2.8% |
The Americas delivered 2.6% OSG, driven by price growth of 2.6%, with flat volumes. Revenue declined
by -5.2% versus Q1 25. Foreign exchange translation effects had a negative impact of -7.6% on Q1 26 revenue growth driven by weakening
US dollar.
In the US, our biggest market, we delivered positive volume growth at 1.8%. Momentum
in the US continued to be driven by our top US brands, led by Yasso and Popsicle, which delivered double-digit OSG in the quarter; and
Ben & Jerry’s, which posted low single-digit growth. Innovation underpinned performance, with partnerships with Bluey and Hello
Kitty revitalising Popsicle, and format innovation supporting Yasso and Ben & Jerry’s; taking Yasso from sticks to pints and
Ben & Jerry’s from pints to sticks. Additionally, we continued to drive physical availability across the value, club and digital
commerce channels.
Revenue in Brazil declined in the quarter. We continue to execute our performance turnaround
plan, with the introduction of new innovations, including the Harry Potter range (licensing partnership), and more targeted promotional
activities.
| AMEA |
|
|
| In
€, percentage |
Q1
2026 |
Q1
2025 |
| Revenue
(in € billions) |
0.480 |
0.488 |
| Reported
revenue growth |
-1.6% |
8.3% |
| Organic
Sales Growth |
7.9% |
5.5% |
| Organic
Volume Growth |
4.9% |
2.5% |
| Organic
Price Growth |
2.9% |
2.9% |
AMEA growth continued in Q1, delivering 7.9% OSG driven by both volume and price. Reported
revenue fell by -1.6% versus Q1 25 as foreign exchange translation effects had a negative impact of -8.8% on revenue growth.
Türkiye and Pakistan delivered double-digit growth with positive contribution both
from price and volumes, and China posted high single-digit OSG in the quarter.
Innovation underpinned growth across the region. In Türkiye, the launch of the
Magnum Sandwich and Algida Spoonful tubs supported good volume growth. In Pakistan, Cornetto Strawberry & Cream and Cornetto Hazelnut,
introduced as part of the accessible premiumisation initiative, enabled double digit organic sales growth. China’s strong seasonal
opening was driven by innovation-led growth, including the new pistachio and blue mint Magnum stick, and the addition of new Cornetto
flavours, such as Sorbet Shine Muscat Grape & Yogurt, and Sorbet Amalfi Lemon with Light Cheese.
Cautionary statement
This document may contain forward-looking statements, including ‘forward-looking
statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995, concerning the financial
condition, results of operations and businesses of The Magnum Ice Cream Company N.V. (the ‘Company’). All statements other
than statements of historical fact are, or may be deemed to be, forward-looking statements. Words such as ‘will’, ‘aim’,
‘expects’, ‘anticipates’, ‘intends’, ‘looks’, ‘believes’, ‘vision’,
‘ambition’, ‘target’, ‘goal’, ‘plan’, ‘potential’, ‘work towards’,
‘may’, ‘milestone’, ‘objectives’, ‘outlook’, ‘probably’, ‘project’,
‘risk’, ‘seek’, ‘continue’, ‘projected’, ‘estimate’, ‘achieve’
or the negative of these terms, and other similar expressions of future performance or results and their negatives, are intended to identify
such forward-looking statements.
Forward-looking statements also include, but are not limited to, statements and information
regarding the Company’s strategy, plans and expected trends, financial results and results of operations, including trends in the
global ice cream market, the Company’s outlook and expected modelled or potential financial results including, sales growth and
Adjusted EBITDA margin improvement, expectations with respect to the Company’s productivity programme, the anticipated growth of
the global ice cream market, statements relating to costs and anticipated benefits from pricing such as tailwinds from cocoa and increase
in energy and supply chain costs, plans and ambitions of the Company to maintain a leadership position in the global ice cream market,
statements relating to the Company’s exposure to the Middle East and impact of geopolitical events and hostilities, including those
in the Middle East, on the Company’s financial results and result of operations, the Company’s expected financial and operational
position, finalisation of remaining TSAs by 2027. Forward-looking statements can be made in writing but also may be made verbally by
directors, officers and employees of the Company (including during management presentations) in connection with this document. These
forward-looking statements are based upon current expectations, assumptions, plans and projections regarding anticipated developments
and other factors affecting the Company. They are not historical facts, nor are they guarantees of future performance or outcomes. All
forward-looking statements contained in this document are expressly qualified in their entirety by the cautionary statements contained
or referred to in this section. Readers should not place undue reliance on forward-looking statements.
Because these forward-looking statements involve known and unknown risks and uncertainties,
a number of which may be beyond the Company’s control, there are important factors that could cause actual results to differ materially
from those expressed or implied by these forward-looking statements. Among other risks and uncertainties, the material or principal factors
which could cause actual results to differ materially from those expressed in the forward-looking statements included in this document
are: the Company’s global brands not meeting consumer preferences; the Company’s ability to innovate and remain competitive;
the Company’s investment choices in its portfolio management; the effect of climate change on the Company’s business; the
Company’s ability to find sustainable solutions to its packaging; significant changes or deterioration in customer relationships;
the Company’s reliance on Unilever; the recruitment and retention of talented employees; disruptions in the Company’s supply
chain and distribution; increases or volatility in the cost of raw materials and commodities; the production of safe and high-quality
products; secure and reliable IT infrastructure; execution of acquisitions, divestitures and business transformation projects; economic,
social and political risks and natural disasters; financial risks; failure to meet high ethical standards; and managing regulatory, tax
and legal matters and practices with regard to the interpretation and application thereof and emerging and developing ESG reporting standards
including differences in implementation of climate and sustainability policies in the regions where the Company operates. The foregoing
list of risk factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described
in the “Risk Factors” section of the Company’s annual report for the year 2025 and filed by the Company on Form 20-F
with the U.S. Securities and Exchange Commission (the ‘SEC’) on March 18, 2026, the Company’s other annual reports
on Form 20-F and other documents on file, and filed from time to time, by the Company with the SEC. These filings do or will identify
and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained
in the forward-looking statements. There may be additional risks that the Company does not presently know or that the Company currently
believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.
The forward-looking statements are based on our beliefs, assumptions and expectations
of our future performance, taking into account all information currently available to us. Forward-looking statements are not predictions
of future events. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which
are known to us. If a change occurs, our business, financial condition, liquidity and results of operations may vary materially from
those expressed in our forward-looking statements.
The forward-looking statements speak only as of the date of this document. Except as
required by any applicable law or regulation, the Company expressly disclaims any obligation or undertaking to release publicly any updates
or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard
thereto or any change in events, conditions or circumstances on which any such statement is based. New risks and uncertainties arise
over time, and it is not possible for us to predict those events or how they may affect us. In addition, we cannot assess the impact
of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially
from those contained in any forward-looking statements.
Market and Industry Information
All references to market share, market data, industry statistics and industry forecasts
in this document consist of estimates compiled by industry professionals, competitors, organisations or analysts, of publicly available
information or of the Group’s own assessment of its sales and markets. Rankings are based on sales unless otherwise stated. None
of the Company or its affiliates, representatives, partners, members, directors, officers, employees, advisers or agents. make any representation
or warranty with respect to the accuracy of such information, and each expressly disclaim any responsibility or liability for any damages
or losses in connection with the use of such information herein.
Comparability
Prior to the Demerger, the Group did not operate as a standalone entity and was reported
as part of Unilever’s Ice Cream operating segment. The financial information presented in this announcement has been prepared on
a standalone basis, as per definitions set out in Appendix A, and differs from the Ice Cream segment previously reported by Unilever.
The differences arise primarily due to the exclusion of entities outside the carve out perimeter (including Russia, India and Portugal)
and other minor scope and presentation differences.
Non-IFRS Financial Measures Definitions
The information in this announcement contains certain measures not defined by, or calculated
in accordance with, IFRS, including Organic Sales Growth (OSG), Organic Price Growth (OPG), Organic Volume Growth (OVG) and Adjusted
EBITDA and Adjusted EBITDA margin. The non-IFRS financial measures presented in this announcement may not be comparable to other similarly
titled measures used by other companies and have limitations as analytical tools. Accordingly, they should not be considered in isolation,
or as a substitute for, financial information prepared in compliance with IFRS. Reconciliations to IFRS measures are presented wherever
appropriate and practical.
Appendix A Definitions and Reconciliation of non-IFRS Financial measures
The sections below provide reconciliations of the closest measures prepared in
accordance with IFRS to the non-IFRS measures used by the Group.
Constant currency
The Group uses “constant rate” and “organic” measures primarily
for internal performance analysis and targeting purposes. The Group presents certain items, percentages and movements, using
constant exchange rates, which do not include the impact of fluctuations in foreign currency exchange rates. Constant currency values
are calculated by translating both the current and the prior period local currency amounts using the prior year average exchange rates
into euro, except for the local currency of entities that operate in hyperinflationary economies. These currencies are translated
into euros using the prior year closing exchange rate before the application of IAS 29.
OSG, OVG, OPG
OSG refers to the increase in revenue for the period, excluding any change in revenue
resulting from disposals, changes in currency and price growth in excess of 26%. in hyperinflationary economies. Inflation
of 26%. per year compounded over three years is one of the key indicators within IAS 29 to assess whether an economy is deemed to
be hyperinflationary. The impact of disposals is excluded from OSG for a period of 12 calendar months from the applicable closing date.
OSG includes increases or decreases in sales of an acquired business immediately following the business combination, unless
a reliable historical baseline is not available for the 12 months prior to the acquisition, in which case sales during the first
12 months of the acquisition are excluded from OSG. The Group believes this measure provides valuable additional information
on the organic sales performance of the business and it is a key measure used internally.
OVG is part of OSG and means, for the applicable period, the increase in revenue in
such period calculated as the sum of: (i) the increase in revenue attributable to the volume of products sold; and (ii) the increase
in revenue attributable to the composition of products sold during such period. OVG therefore excludes any impact on OSG due to changes
in prices.
OPG is part of OSG and means, for the applicable period, the increase in revenue attributable
to changes in prices during the period. OPG therefore excludes the impact to OSG due to: (i) the volume of products sold; and (ii) the
composition of products sold during the period. In determining changes in price, the Group excludes the impact of price growth in
excess of 26%.per year in hyperinflationary economies as explained in OSG above.
The following table presents a reconciliation of changes in the IFRS measure of revenue
to OSG for Q1 2026 and Q1 2025:
| (unaudited) |
Q1
2026 |
Q1
2025 |
| Revenue (in millions
of €) |
1,770 |
1,792 |
| Revenue growth(a) (%) |
(1.2) |
4.2 |
| Effect of acquisitions(b) (%) |
0.0 |
0.0 |
| Effect of disposals(c) (%) |
0.0 |
(0.1) |
| Effect of currency-related items(d)
(%) |
(5.5) |
0.5 |
| of which: |
|
|
| Exchange rate changes (%) |
(5.8) |
(1.0) |
| Extreme price growth in hyperinflationary
markets (%) |
0.3 |
1.5 |
| OSG(e) (%) |
4.5 |
3.8 |
| Of which: |
|
|
| OVG(f) |
2.9 |
1.4 |
| OPG(g) |
1.6 |
2.4 |
(a) Revenue growth is calculated as current year revenue minus prior year revenue divided
by prior year revenue.
(b) Effect of acquisitions is calculated using constant exchange rates and is the difference
between revenue growth and what revenue growth would have been if the revenue associated with acquisitions was removed from the current
year. This excludes the change in revenue of the acquisitions compared to their historical base, if this change has been included
in the OSG.
(c) Effect of disposals is calculated using constant exchange rates and is the difference
between revenue growth and what revenue growth would have been if the revenue associated with disposals was removed from the prior year.
(d) Effect of currency-related items is comprised of the effect of foreign
currency exchange rate movements on revenue growth and price growth in excess of 26%. per year in hyperinflationary economies
which is excluded from OSG. The calculation of effect of currency-related items is as follows: Effect of currency-related items = [(1+Effect
of exchange rate changes) multiplied by (1+ Effect of extreme price growth in hyperinflationary markets)] minus 1. There may be minor
discrepancies between the number arrived at through the application of this calculation and the final figure set out above, which is as
a result of rounding.
(e) OSG is revenue growth adjusted to remove the impacts of acquisitions, disposals and
the impact of currency-related items (being movements in exchange rates and extreme price growth in hyperinflationary markets). The calculation
of OSG is as follows: (1 plus revenue growth) divided by [(1 plus effect of acquisitions) multiplied by (1 plus effect of disposals)
multiplied by (1 plus effect of currency related items)] minus 1. There may be minor discrepancies between the number arrived at
through the application of this calculation and the final figure set out above, which is as a result of rounding. The reconciliation
of OSG to revenue is as set out in the table above. (f) OVG and OPG are multiplied on a compounded basis to arrive at OSG through application
of the following formula: OSG equals (1 plus OVG) multiplied by (1 plus OPG) minus 1.
(g) OPG in excess of 26% per year in hyperinflationary economies has been
excluded when calculating the OSG in the tables above, and an equal and opposite amount is shown as extreme price growth in hyperinflationary
markets.
Adjusted EBITDA, Adjusted EBITDA margin
Adjusted EBITDA is defined as operating profit before the impact of adjusting items
within operating profit and before the impact of depreciation and amortisation. Adjusted EBITDA margin is calculated as Adjusted EBITDA
divided by revenue for the period. Those measures are used to evaluate the performance of the Group and its segments. Items are classified
as adjusting due to their nature and/or frequency of occurrence. The Group’s management believes this measure provides useful information
in understanding and evaluating the Group’s operating results.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | | The Magnum Ice Cream Company N.V. |
| | | (Registrant) |
| | | |
| | | |
| Date: April 30, 2026 | | /s/ Vanessa Vilar |
| | | Vanessa Vilar |
| | | Chief Legal Officer |
| | | |
