Pandora, golden business with silver

Pandora’s jewels are selling more and more. The growth is linked to an increase in sales of new collections, continuous reorders and the opening of new single-brand stores. So much so that the company expects to improve business compared to forecasts, after having announced excellent results in the third quarter (24.6% growth in turnover to approximately 382.7 million euros). Ebitda (i.e. the gross operating margin) rose by 33.8% to approximately 137.2 million euros, while net profit is 97.4 million. For 2014 Pandora expects a turnover of 1.54 billion euros and an Ebitda of over 35%. Pandora gets its best business in the Asia Pacific area, with a leap of 40.5%, Europe (+27.4%) and America (+17.8%). 300 new openings are expected for 2014 (compared to the previous expectation of 275).

Obviously happy the CEO, Allan Leighton: «We are pleased to have closed another quarter with a strong performance, reporting our highest turnover and Ebitda, ever recorded to date and all the regions have continued to perform well, thanks to the expansion of the network of stores, and the new product lines», he commented.