The Magnum Ice Cream Company demerger

DISCLAIMER

This website does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities, nor shall it (or any part of it) form the basis of, or be relied on in connection with or act as any inducement to enter into, any contract or commitment whatsoever.

The information contained in this website speaks only as at the date of the relevant document or announcement reproduced on this website, and subject to applicable law or regulation neither Unilever PLC nor any member of its group (together, the “Group”) has, or accepts, any responsibility or duty to update any such information, document or announcement and reserves the right to add to, remove or amend any information reproduced on this website at any time.

This website may contain forward-looking statements, including “forward-looking statements” concerning the financial condition, results of operations and businesses of the Group. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Words such as “will”, “aim”, “expects”, “anticipates”, “intends”, “looks”, “believes”, “vision”, “ambition”, “target”, “goal”, “plan”, “potential”, “work towards”, “may”, “milestone”, “objectives”, “outlook”, “probably”, “project”, “risk”, “seek”, “continue”, “projected”, “estimate”, “achieve” or the negative of these terms, and other similar expressions of future performance or results and their negatives, are intended to identify such forward-looking statements. Forward-looking statements also include, but are not limited to, statements and information regarding, Unilever's portfolio optimisation towards global or scalable brands, the capabilities and potential of such brands, the various aspects of the separation of Ice Cream and its future operational model, strategy, growth potential, performance and returns, Unilever's productivity programme, its impacts and cost savings over the next three years and operation dis-synergies from the separation of Ice Cream, the Group's emissions reduction targets and other climate change related matters (including actions, potential impacts and risks associated therewith).

These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts, nor are they guarantees of future performance or outcomes. All forward-looking statements contained in this website are expressly qualified in their entirety by the cautionary statements contained or referred to in this website. Readers should not place undue reliance on forward-looking statements.

Because these forward-looking statements involve known and unknown risks and uncertainties, a number of which may be beyond the Group’s control, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements.

The forward-looking statements speak only as of the date that they are made. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. New risks and uncertainties arise over time, and it is not possible for the Group to predict those events or how they may affect it. In addition, the Group cannot assess the impact of each factor on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Decline

The Magnum Ice Cream Company (TMICC) completed its separation from Unilever and began operating as a standalone company. TMICC was incorporated in the Netherlands, with its shares listed in Amsterdam, London, and New York.

Unilever retained a minority stake (<20%) in TMICC, to be sold down over time to support separation costs and capital flexibility. From Q4, Unilever will report Ice Cream as a discontinued operation and plans a share consolidation to ensure post-demerger comparability of share price, EPS, and DPS.

TMICC begins standalone operations

Capital Markets Day in London

US Registration Statement filed with SEC

Demerger completed

TMICC listing and trading commenced

Unilever to report Ice Cream as discontinued operation

View a detailed introduction to TMICC (PDF 4.5 MB)

Warren Ackerman from Barclays and Peter ter Kulve, CEO of The Magnum Ice Cream Company, dressed in business attire seated in a modern, well-lit room with large windows and a tall green plant. Warren on the left is holding papers and gesturing while Peter listens with legs crossed. A small round table between them holds glasses of water and a range of ice creams on a display stand.

Key links

Two people enjoying a sunny day at the beach. One is giving the other a piggyback ride. The person being carried wears a red and white checked swimsuit and has curly hair, while the other has short hair, sunglasses, and holds an orange Paddle Pop. A clear blue sky with a white wavy graphic overlays the background.

The Magnum Ice Cream Company Capital Markets Day

On Tuesday, 9 September 2025, TMICC hosted their Capital Markets Day, where they presented their strategy as a stand-alone company, shared their financial performance and medium-term outlook, and provided in-depth insights into their key markets and channels through presentations from their executive leadership team.

Watch the full replay of the webcast
Watch the CEO replay of the webcast
Watch the CFO replay of the webcast
Watch the CHRO replay of the webcast
Download the presentation here (PDF 14.4 MB)
Download the transcript here (PDF 393.38 KB)

Documents

Shareholding

After TMICC demerger, two changes affected your shareholding:

You were issued new TMICC shares
Unilever completed a Share Consolidation

Use the calculators below to see your holdings.

1. TMICC shares calculator

Find out how many TMICC shares you received immediately following the demerger.

This calculator gives you an indication of the number of TMICC shares you received following the demerger. A ratio of one TMICC share for every five Unilever shares (or ADSs) was applied, and the tool automatically rounds down any fractions to the nearest whole share.

Important: This calculator is designed to provide an approximate indication of your post-demerger TMICC shareholding. It should not be relied upon as legal, tax, or financial advice and is not a substitute for consulting a qualified professional. The actual number of TMICC shares you received can be confirmed by your broker, nominee, or service provider through which you hold Unilever shares (or ADSs).

2. Unilever shares after Unilever Share Consolidation

Following the demerger, Unilever completed a share consolidation. Find out how many Unilever shares you owned immediately following the Unilever Share Consolidation.

(This assumes you did not sell any of your Unilever shares on Tuesday 9 December 2025.)

This calculator gives you an indication of the number of Unilever shares (or ADSs) you held immediately after the Unilever Share Consolidation. The same consolidation ratio was applied to all Unilever shares (and ADSs), and the tool automatically rounds down any fractions to the nearest whole share.

Important: This calculator is designed to provide an approximate indication of your post-consolidation Unilever shareholding. It should not be relied upon as legal, tax, or financial advice and is not a substitute for consulting a qualified professional. The actual number of consolidated shares you received can be confirmed by your broker, nominee, or service provider through which you hold Unilever shares (or ADSs).

Reducing the number of Unilever shares is intended to ensure that there will be comparability, so far as practicable, between Unilever’s share price and per share metrics (including earnings per share and dividends per share) before and after the Demerger (subject to interim market movements). The share consolidation is also designed to preserve (as far as reasonably possible) the value of awards granted under any Unilever Share Plan, thereby avoiding the need for any specific adjustments to the numbers of awards under those schemes.