The Magnum Ice Cream Company N.V.

MICC

Market cap $10.9B

Global food delivery platform Delivery Hero was a contributor for the quarter. French pay-TV operator Canal+ contributed positively in the quarter. Leading international student placement agency and high stakes English testing service provider IDP Education was a detractor for the quarter. We exited our positions in Delivery Hero, as discussed above, and Menicon, which was a smaller position that had approached fair value.

Fundsmith Equity Fund was down by 2.9% in the first 6 months of the year, 14.1 percentage points less than what is perhaps the most obvious comparator, the MSCI World Index (£ net). Atlas Copco's organic growth has been anaemic over the last two years, which in our view does not justify a

The Magnum Ice Cream Company remains a 'Buy,' with its reasonable valuation now augmented by better-than-expected growth and rumored interest from private equity firms. Sales growth breezed past consensus last quarter. MICC's structural growth prospects may have been underestimated, as prior underinvestment by Unilever likely masked its true potential. While the war in Iran has introduced risks, tailwinds from cocoa, dairy, and palm oil prices can offset these to some extent.

Shares of Magnum Ice Cream Company (NYSE: MICC) surged 18% on Friday after a Reuters report said private equity firms, including Blackstone and Clayton, Dubilier & Rice, were in the early stages of exploring a potential bid for the recently spun-off ice cream maker. The rally comes only six months after the company separated from Unilever to become the world's largest standalone ice cream business.

The Magnum Ice Cream Company N.V. (TMICC or the Company) Result of AGM The Company announces the results of its Annual General Meeting (AGM) held on 7 May 2026.

The Magnum Ice Cream Company N.V. (MICC) Q1 2026 Sales/Trading Call Transcript

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.

Magnum® transforms its iconic bars into a limited-edition nail collection with Naomi Yasuda, available April 3 at MagnumIceCreamNails.com, while supplies l

The Magnum Ice Cream Company N.V. (TMICC or the Company) Director Declaration The Company has been notified that Abhijit Bhattacharya, Chief Financial Officer, has been appointed as a Non-Executive Director to the Board of Kwality Wall's (India) Limited (KWIL) with effect from 30 March 2026.

The Magnum Ice Cream Company N.V. (TMICC or the Company) NOTIFICATION OF A TRANSACTION OF A PERSON DISCHARGING MANAGERIAL RESPONSIBILITIES (PDMR) The Company notifies the following acquisition of ordinary shares of €3.50 each (Shares) of a PDMR.