LONDON: The Magnum Ice Cream Company (TMICC) outlined its growth strategy and financial outlook during its inaugural capital markets day in London on Tuesday.
During the event, Magnum’s management presented its business strategy and financial framework ahead of the planned demerger from Unilever PLC and standalone listing, both of which are expected to be completed by mid-November.
Following the demerger, shares of TMICC will begin trading on the Amsterdam, London and New York exchanges.
Jean-François van Boxmeer, chair designate of TMICC, said: “As the clear global leader in a growing category, the Magnum Ice Cream Company has the scale, the expertise and, most importantly, the strategy to drive an already outstanding business towards further success for all stakeholders.”
TMICC will become the only pure-play listed company in the global ice cream market, which is estimated to be worth €75bil as part of the larger €470bil global snack market. The ice cream market has grown consistently at a compounded annual growth rate of 3% to 4% per year on average over the past 10 years, with attractive returns, according to the company.
In 2024, Magnum generated €7.9bil in revenue and €1.3bil of adjusted earnings before interest, taxes, depreciation and amortisation. The company owns four of the five biggest ice cream brands worldwide, operates a market-leading three million freezer cabinets, and has a global retail market share of around 21%. — China Daily/ANN
