2025 Full Year Results

Core Insights - TMICC reported stable operational performance in 2025 with sales of €7.9 billion, organic sales growth of 4.2%, and volume growth of 1.5% [2][5][7] - The company successfully completed its demerger from Unilever, establishing itself as an independent entity listed on multiple stock exchanges [5][31][40] Financial Performance - Revenue remained flat at €7.9 billion compared to FY 2024, with reported revenue growth declining by 0.5% due to foreign exchange translation effects [3][5][8] - Operating profit decreased to €599 million from €764 million, primarily due to increased separation and restructuring costs [5][10] - Adjusted EBITDA was €1,255 million with a margin of 15.9%, down from 16.9% in FY 2024, impacted by foreign exchange and transitional service agreement costs [11][12] - Free Cash Flow dropped significantly to €38 million from €803 million in FY 2024, largely due to cash outflows related to the demerger [12][14] Market and Brand Performance - All regions contributed to organic sales growth, with Europe & ANZ growing by 3.3%, Americas by 0.8%, and AMEA by 10.9% [7][46][53] - Key brands such as Magnum, Ben & Jerry's, Cornetto, and The Heartbrand were significant growth drivers, with multiple new product launches [2][13][8] - Digital commerce emerged as the fastest-growing channel, achieving double-digit growth [9] Strategic Initiatives - The company is focused on executing a growth strategy that includes expanding consumption occasions, unlocking productivity through a €500 million savings program, and reinvesting in brand development [21][22][28] - The productivity program delivered €180 million in savings in 2025, with cumulative savings reaching €250 million [28] Future Outlook - For 2026, TMICC anticipates organic sales growth of 3% to 5% and an improvement in adjusted EBITDA margin by 40 to 60 basis points [19] - The ice cream market is expected to grow between 3% and 4% in 2026, indicating a resilient market environment [19]