EarningsQ2 2026 Earnings Report

Magnum Ice Cream Co. N.V. (7RM) Q2 2026 Earnings Report

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Previous Report: Q4 2025

DE:7RM Q2 2026 EPS Results

Actual EPS€0.72

Consensus EPS€0.69

Beat/MissBeat by +€0.03

One Year Ago EPS€0.90

DE:7RM Q2 2026 Revenue Results

Actual Revenue€4.69B

Expected Revenue€2.81B

Beat/MissBeat by +€1.88B

YoY Revenue Growth―

Earnings Announcement Details

QuarterQ2 2026

Date07/30/2026

TimeBefore Open

Conference CallThursday, July 30, 2026

DE:7RM Upcoming Earnings

Magnum Ice Cream Co. N.V.'s next earnings date is estimated for February 18, 2027, based on past reporting schedules.

Q2 2026 Earnings Call Audio

DE:7RM Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Jul 30, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presented a predominantly positive operational and financial picture: solid organic growth (4.7%), profit gains (higher adjusted EBIT and EBITDA) and substantial productivity savings (EUR 90m) that support margins and cash generation (EUR 273m FCF). Brand-led innovation, market share gains and strong digital commerce were notable strengths. However, the company continues to face material headwinds that temper the outlook: TSAs and separation accounting effects, commodity inflation (notably in AMEA), regulatory constraints in Turkiye, underperformance in Brazil and weather-impacted China, and higher financing costs. Management reaffirmed full-year guidance but adopted a conservative reported-margin outlook owing to acquisition and separation impacts. On balance, the positives (broad-based growth, margin progression before one-offs, strong cash flow and innovation momentum) outweigh the lowlights, though risks remain that could constrain reported near-term improvement.

Company Guidance

Management reaffirmed its full‑year guidance: organic sales growth of 3–5% and an adjusted EBITDA margin improvement of 40–60 basis points on a comparable perimeter (reported improvement 0–20 bps, reflecting the India acquisition). For context, H1 revenue was EUR 4.7bn with adjusted EBITDA of EUR 880m (18.7% margin) and adjusted EBIT of EUR 716m (15.3% margin); free cash flow was EUR 273m and net debt/adjusted EBITDA was 2.5x. H1 productivity delivered EUR 90m of savings (EUR 70m supply chain, EUR 20m overhead) towards a EUR 0.5bn medium‑term target; TSAs and the India deal reduced H1 margin by ~70 bps and ~30 bps respectively. Management expects adjusted items in line with prior estimates, an adjusted effective tax rate around 27%, net finance cost ~EUR 160m, and noted an accounting change that will shift some Turkiye revenue from Q3 into Q4 with no full‑year effect.

Solid Revenue and Organic Growth

Reported revenue of EUR 4.7 billion for H1 2026, with organic sales growth of 4.7%. Growth balanced between volume (2.5%) and price (2.2%). Reported revenue growth 4.2% (including +2.3% from acquisitions and -2.7% FX translation).

Profitability Improvements

Adjusted EBIT increased to EUR 716 million (up from EUR 666 million, ≈+7.6%) and adjusted EBIT margin improved to 15.3% (+50 basis points year-on-year). Adjusted EBITDA rose to EUR 880 million from EUR 853 million (≈+3.2%).

Productivity Program Delivering Cash and Margin Benefit

Discipline in execution delivered EUR 90 million of productivity savings in H1 (EUR 70m supply chain; EUR 20m overheads). Program remains on track for medium-term target of EUR 0.5 billion of savings and contributed materially to margin improvement.

Strong Free Cash Flow and Leverage in Line with Policy

Free cash flow of EUR 273 million in H1 2026 (up from EUR 138 million in H1 2025, ≈+98%), driven by favorable working capital movement and higher EBIT. Net debt to adjusted EBITDA ratio of 2.5x, consistent with capital allocation policy. Comparable free cash flow excluding separation effects would have been EUR 99 million (vs EUR 72m prior).

Brand and Innovation Momentum

Leading brands drove growth: Magnum (mid-single-digit), Ben & Jerry's (mid-single-digit; Q2 acceleration to 9.2%), Cornetto and Heartbrand growth. Multiple successful innovations and format expansions (Ben & Jerry's sticks & sandwiches, Magnum sandwiches/ball cones, Yasso pints) accounted for several top-10 product innovations in Europe and the U.S. Management attributes ~40% of growth to innovation.

Market Share Gains and Regional Outperformance

Gained share in all regions including the U.S. Regional organic growth: AMEA +7.6%, Europe & ANZ +4.1%, Americas +3.2%. Management noted share gains across key markets (e.g., France, U.K., U.S., China improvements over time).

Channel Expansion and Digital Commerce Strength

At-home and away-from-home channels grew mid-single-digit; digital commerce maintained double-digit growth. Cabinet fleet expansion in key markets (India, Pakistan, China, Mexico) supporting away-from-home growth and seasonal performance.

Successful M&A Integration and Operational Transition Progress

Acquisitions in India and Portugal closed and integrated into results (India included from Q2). All planned TSA exits for H1 completed on time; IT-related TSAs scheduled for exit by end of 2027 as new tech stack is deployed.

DE:7RM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Feb 18, 2027	2026 (Q4)	0.27 / -	0.08	―
Jul 30, 2026	2026 (Q2)	0.69 / 0.72	0.9	-20.00% (-0.18)
Feb 12, 2026	2025 (Q4)	0.13 / 0.08	0.207	-61.35% (-0.13)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed