Pandora's Year of "Solid and Profitable Growth"
February 06, 25
(IDEX Online) - Pandora reported "another year of solid and profitable growth" in its full year results, published yesterday (5 February).
The Copenhagen-based company said organic growth for the year was 13 per cent, with revenue at DKK 31.7bn ($4.42bn), boosted by a successful holiday season.
Pandora has built its reputation - and derived most of its earnings - from the charm bracelets it introduced in 2000, but it is now aiming to become a full jewelry brand.
The company reported 11 per cent organic growth in the final quarter of 2024 - slightly lower than the annual figure - and said initial guidance for 2025 was 7 to 8 per cent.
Current trading this quarter (Q1 2025) shows like-for-like sales at high-single digit levels.
"We are pleased with how we ended 2024, particularly given the challenging macroeconomic backdrop and a competitive holiday period. Execution of our Phoenix strategy continued to drive the brand forward throughout the entire year," said Pandora CEO Alexander Lacik.
"In 2025, we target another year of solid and profitable growth and we have all actions lined up to continue the strong development."
The US is by far Pandora's biggest single market, accounting for 31 per cent of revenue, followed by the UK (12 per cent), Italy (8 per cent) and Germany (7 per cent).