Unilever is separating its ice cream division. In announcing its annual results, the multinational confirmed that it was unable to find a buyer for the division and will therefore list it on the stock exchange.

A year ago, Unilever decided to separate its ice cream division, considering it to be too seasonal and capital-intensive. The initial intention was to find a buyer for the division. However, due to a lack of candidates, Unilever opted to take the division public.

The ice cream division will become a Dutch company, headquartered in Amsterdam. It will be listed on three stock exchanges: Amsterdam, London, and New York. Peter ter Kulve will remain as CEO, while Jean-François van Boxmeer, former CEO of Heineken, will assume the role of chairman. The spin-off operation is expected to be completed by the end of this year.

Results

Meanwhile, Unilever announced its 2024 results, which were slightly disappointing after a weaker-than-expected fourth quarter: annual turnover increased by almost 2%, to €60,8 billion. In the previous year, turnover had grown by 7%.

Underlying operating profit was €11,2 billion. For this year, Unilever aims to achieve turnover growth of between 3% and 5% and a modest improvement in operating margin.