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Pandora — Earnings Release 2021
May 3, 2021
3379_rns_2021-05-03_6525bf3d-45ab-4d6d-a166-502a331c430a.pdf
Earnings Release
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PANDORA
Pandora A/S
Havneholmen 17 - 19 | DK-1561 Copenhagen V | Denmark
Tel. +45 3672 0044
www.pandoragroup.com
CVR: 28 50 51 16
No. 620
COMPANY ANNOUNCEMENT
3 May 2021
PANDORA UPGRADES FINANCIAL GUIDANCE FOR 2021
Based on a strong start to 2021 and the updated forecast for the rest of the year, Pandora upgrades its financial guidance for 2021.
Organic growth is increased to "Above 12%", from "Above 8%", and EBIT margin is increased to "Above 22%", from "Above 21%".
The updated guidance is based on the assumption that 20 - 25% of the stores will be temporarily closed due to COVID-19 during the first half of 2021 and 5 - 10% in the second half. Previously, the expectation was 25% temporary stores closures in the first half of 2021. This is expected to impact organic growth negatively by around -6% for the full year. Today, around 20% of Pandora's stores are temporarily closed due to COVID-19 restrictions.
CAPEX for the year is still expected to be in the range between DKK 1.0 - 1.2 billion and no major changes to the overall concept store network are expected. The effective tax rate is expected to be 22 - 23%, in line with 2020.
Pandora is currently in silent period and will, as planned, announce the detailed financial results in the Q1 2021 Interim Report on 4 May 2021. Additionally, Pandora will provide an initial and high-level overview of the new strategy and host an extended conference call.
ABOUT PANDORA
Pandora designs, manufactures and markets hand-finished jewellery made from high-quality materials at affordable prices. Pandora jewellery is sold in more than 100 countries through almost 7,000 points of sale, including around 2,700 concept stores.
Headquartered in Copenhagen, Denmark, Pandora employs 26,000 people worldwide and crafts its jewellery at two LEED certified facilities in Thailand using mainly recycled silver and gold. The company plans to be carbon neutral by 2025 and has joined the Science Based Targets initiative to reduce emissions across its full value chain. Pandora is listed on the Nasdaq Copenhagen stock exchange and generated sales of DKK 19.0 billion (EUR 2.5 billion) in 2020.
3 MAY 2021 | COMPANY ANNOUNCEMENT No. 620 | page 1 | 2
PANDORA
CONTACT
INVESTOR RELATIONS
John Bäckman
VP, Investor Relations, Tax & Treasury
+45 5356 690 9
[email protected]
Kristoffer Aas Malmgren
Investor Relations Director
+45 30 50 1174
[email protected]
CORPORATE COMMUNICATIONS
Johan Melchior
Director External
Relations
+45 40 60 1415
[email protected]
3 MAY 2021 | COMPANY ANNOUNCEMENT No. 620 | page 2 | 2