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Pandora — Earnings Release 2016
Aug 9, 2016
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Download source file• Group revenue in Q2 2016 was DKK 4,327 million, an increase of 20% (25%
increase in local currency), compared with Q2 2015:
• Americas increased by 5% (10% increase in local currency)
• EMEA increased by 28% (32% increase in local currency)
• Asia Pacific increased by 43% (51% increase in local currency)
• Revenue from concept stores increased by 39% and corresponded to 63%
of the total revenue
• Concept store like-for-like sales increased 7%, driven by positive
growth in EMEA and Asia Pacific, partially offset by -1% in Americas (US
like-for-like sales increased 2%)
• The gross margin increased to 75.3% in Q2 2016, compared with 71.5% in
Q2 2015
• EBITDA increased by 23% to DKK 1,609 million in Q2 2016, corresponding
to an EBITDA margin of 37.2%, compared with 36.4% in Q2 2015
• Net profit for the quarter was DKK 1,221 million, compared with DKK 910
million in Q2 2015
• Free cash flow increased to DKK 576 million in Q2 2016 compared with DKK
-268 million in Q2 2015. Q2 2015 was negatively impacted by DKK 642 million
relating to a settlement with the Danish tax authorities
• During Q2 2016, PANDORA bought back 1,605,870 own shares at a total
value of DKK 1,466 million as part of the ongoing DKK 4.0 billion share buyback
programme, corresponding to 1.4% of the total share capital as of end Q2 2016
In connection with the Q2 2016 results Anders Colding Friis, CEO of PANDORA,
stated:
“Growth in all regions continued into the second quarter. EMEA and Asia Pacific
maintained the strong momentum with double digit revenue growth, driven by
positive double digit like-for-like growth and continued improvement of the
store network. Americas increased 10% in local currency, driven by 2%
like-for-like growth in the US, a strong performance in the US eSTORE and a
continued successful concept store roll-out across the region. All regions were
supported by our continued focus on product diversification into Rings and
Earrings.”
CONFERENCE CALL
A conference call for investors and financial analysts will be held today at
10.00 CET and can be joined online at www.pandoragroup.com. The presentation
for the call will be available on the website one hour before the call.
The following numbers can be used by investors and analysts:
DK: +45 32 71 16 59
UK (International): +44(0) 20 3427 1903
US: +1 646 254 3388
To participate, please quote confirmation code “PANDORA” when dialling into the
conference.
FINANCIAL CALENDAR
1 November 2016 Interim Report for the third quarter of 2016
ABOUT PANDORA
PANDORA designs, manufactures and markets hand-finished and contemporary
jewellery made from high-quality materials at affordable prices. PANDORA
jewellery is sold in more than 100 countries on six continents through
approximately 8,900 points of sale, including more than 1,900 concept stores.
Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs more
than 17,800 people worldwide of whom approximately 12,000 are located in
Gemopolis, Thailand, where the Company manufactures its jewellery. PANDORA is
publicly listed on the NASDAQ Copenhagen stock exchange in Denmark. In 2015,
PANDORA’s total revenue was DKK 16.7 billion (approximately EUR 2.2 billion).
CONTACT
For more information, please contact:
INVESTOR RELATIONS MEDIA RELATIONS
Magnus Thorstholm Jensen Kristian Lysgaard
Vice President, Head of Investor Relations Director, Group Communications
+45 3050 4402 +45 2556 8561
[email protected] [email protected]
Brian Granberg
Investor Relations Officer
+45 6178 4884
[email protected]