Investing.com — Shares in The Magnum Ice Cream Company (AS:MICCT) jumped more than 11% on Thursday after it reported stronger-than-expected first-quarter 2026 organic sales growth, driven by higher volumes across key regions, while reaffirming its full-year outlook.
Organic sales rose 4.5% in the quarter, above consensus expectations of 2.6%, supported by volume growth of 2.9% and price growth of 1.6%.
Revenue was €1.77 billion, down 1.2% year-on-year, reflecting a negative foreign exchange impact of 5.5%.
Growth was broad-based across regions. Europe and ANZ posted organic sales growth of about 4%, ahead of consensus of 1.1%, with volume growth of about 4.3%.
The Americas delivered organic sales growth of about 2.6%, above expectations of 1.4%, with flat volumes. Brazil remained weak, while U.S. volumes grew 1.8%.
In AMEA, organic sales rose about 7.9%, compared with consensus of 7.1%, supported by volume growth of about 4.9%. Türkiye and Pakistan recorded double-digit growth, while China saw high single-digit growth.
The company said growth reflected contributions from both volume and pricing, with all regions delivering positive organic sales growth.
“We have had an encouraging start to 202 6 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,” chief executive Peter ter Kulve said.
Jefferies said the performance was driven primarily by volume, with volume growth materially ahead of expectations, while price growth lagged forecasts.
The company reiterated its full-year 2026 guidance for organic sales growth of 3% to 5% and an adjusted EBITDA margin improvement of 0 to 20 basis points on a reported basis.
Jefferies said it did not expect consensus full-year earnings per share of €0.93 to change materially following the results.
Foreign exchange guidance improved slightly, with the expected translation impact on first-half 2026 revenue revised to negative 2.8% from negative 4%.
The company completed acquisitions in India and Portugal at the end of March and early April, which will be consolidated from the second quarter.
Management said it remained on track to complete the remaining transitional service agreement exits by the end of 2027.