MAGNUM ICE CREAM COMPANY (MICC) – Consumer
| Price: £11 n/c | |
| Market Cap: £2bn |
Today see the debut of Unilever’s ice cream business, which includes Magnum, Walls, Cornetto and Ben & Jerry’s, among other brands, as a stand-alone entity.
Ice cream is the smallest of Unilever’s businesses, posting revenue of €8.3 billion in 2024 against €12.3 billion for home care and more than €13 billion each for the food, personal care and beauty and wellness divisions.
Our View
Magnum shares debuted at just over £11 in London and €12.20 in Amsterdam, below the reference price, suggesting small investors were offloading their free shares.
Christmas isn’t the ideal time to sell what is traditionally a summer product, and there are other headwinds facing the business such as the fight against obesity.
Having said that, underlying quarterly revenue growth has been pretty healthy over the past 12 months but with the IPO looming you would expect Unilever to make sales look good.
We’ll keep an eye on MICC, but as a business it doesn’t really float our boat.
Read the press release here: https://corporate.magnumicecream.com/en/investors.html
Disclaimer: This content is for information only and is not investment advice. Always do your own research before investing. Click here to see full disclaimer.
