Announcement • May 08
Pandora A/S Reaffirms Earnings Guidance for Fiscal Year 2026 Pandora A/S reaffirmed earnings guidance for fiscal year 2026. For the year, the company expected EBIT margin of 21% to 22%. Reported Earnings • May 06
First quarter 2026 earnings released: EPS: kr.12.60 (vs kr.14.00 in 1Q 2025) First quarter 2026 results: EPS: kr.12.60 (down from kr.14.00 in 1Q 2025). Revenue: kr.7.11b (down 3.2% from 1Q 2025). Net income: kr.942.0m (down 14% from 1Q 2025). Profit margin: 13% (down from 15% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Luxury industry in Europe. Board Change • Apr 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. Independent Director Lars Sorensen was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Mar 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 4.4% per year for the foreseeable future. Minor Risks High level of debt (152% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.4% average weekly change). Upcoming Dividend • Mar 05
Upcoming dividend of kr.22.00 per share Eligible shareholders must have bought the stock before 12 March 2026. Payment date: 16 March 2026. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (1.7%). Announcement • Feb 24
Pandora A/S Appoints David Boynton as Managing Director of Northern Europe Pandora A/S has named David Boynton as its new managing director of Northern Europe. The appointment marks a return to an executive role for Boynton, who had previously served as chief executive officer of The Body Shop for over five years. Boynton has also been at the helm of Charles Tyrwhitt, cosmetics brand L’Occitane and Hong Kong-based AS Watson. Since June 2023, Boynton had been operating under his advisory business, Boynton Advisory Limited, through which he served as a board level advisor to start-ups and high-growth companies. He announced his latest appointment on LinkedIn, where he said it felt like the right time to return to an executive role after a period of working as an advisor and non-executive director. Declared Dividend • Feb 09
Dividend increased to kr.22.00 Dividend of kr.22.00 is 10% higher than last year. Ex-date: 12th March 2026 Payment date: 16th March 2026 Dividend yield will be 29%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 9.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 6.5% over the next 3 years. However, it would need to fall by 64% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Feb 05
Full year 2025 earnings released: EPS: kr.68.10 (vs kr.64.85 in FY 2024) Full year 2025 results: EPS: kr.68.10 (up from kr.64.85 in FY 2024). Revenue: kr.32.5b (up 2.7% from FY 2024). Net income: kr.5.24b (flat on FY 2024). Profit margin: 16% (in line with FY 2024). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Luxury industry in Europe. New Risk • Jan 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.05% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.05% per year for the foreseeable future. Minor Risks High level of debt (395% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (€2.5m sold). New Risk • Jan 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risks High level of debt (395% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (€2.5m sold). Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment deteriorates as stock falls 14% After last week's 14% share price decline to €80.18, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Luxury industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €136 per share. New Risk • Jan 09
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.6% per year for the foreseeable future. Minor Risks High level of debt (395% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (€2.5m sold). Announcement • Jan 09
Pandora A/S Provides Earnings Guidance for 2025 Pandora A/S provided earnings guidance for 2025. For the quarter, EBIT margin is expected to land at around 33.5%, reflecting the strong gross margin and good cost control.
For the year the company expects EBIT to land around DKK 7.8 billion. Group EBIT margin for 2025 is expected to be in line with guidance of around 24%. Recent Insider Transactions • Dec 05
President & CEO recently sold €2.5m worth of stock On the 3rd of December, Alexander Lacik sold around 25k shares on-market at roughly €100 per share. This transaction amounted to 9.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Alexander's only on-market trade for the last 12 months. Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: kr.6.30 (vs kr.7.30 in 3Q 2024) Third quarter 2025 results: EPS: kr.6.30 (down from kr.7.30 in 3Q 2024). Revenue: kr.6.27b (up 2.7% from 3Q 2024). Net income: kr.489.0m (down 18% from 3Q 2024). Profit margin: 7.8% (down from 9.7% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Luxury industry in Europe. Announcement • Nov 05
Pandora A/S Maintains Earnings Guidance for the Year 2025 Pandora A/S maintained earnings guidance for the year 2025. The company maintains guidance for 2025 of “7-8% organic growth”. The EBIT margin guidance for 2025 is also maintained at “around 24%”. Announcement • Aug 22
Pandora A/S to Report Fiscal Year 2024 Results on Feb 05, 2025 Pandora A/S announced that they will report fiscal year 2024 results on Feb 05, 2025 Announcement • Aug 13
Pandora A/S Revises Earnings Guidance for the Year 2024 Pandora A/S revised earnings guidance for the year 2024. The company announced that Reflecting the solid performance YTD, the organic growth guidance range is updated to “9% to 12%” (previously 8% to 10%). Announcement • Mar 16
Pandora A/S Approves Dividend for the Year 2023 Pandora A/S announced that at its AGM held on March 14, 2024, shareholders approved the Board’s proposal that a dividend of DKK 18.00 per share of DKK 1 be paid on the profit for the year available for distribution according to the Annual Report 2023 was adopted. Announcement • Nov 09
Pandora A/S Revises Earnings Guidance for the Year 2023 Pandora A/S revised earnings guidance for the year 2023. For the year 2023, the company expects the organic growth guidance range is upgraded to "+5% to +6%" (previously +2% to +5%). The EBIT guidance remains unchanged at "around 25%". Announcement • Aug 30
Pandora, Reveals Expansion of Pandora Lab-Grown Diamonds with Three New Collections Pandora, reveals the expansion of Pandora Lab-Grown Diamonds with three new collections. Re-writing the rules of diamond jewelry, Pandora continues its journey of democratizing diamonds and celebrating their power as vehicles for love, joy, and personal expression – bringing their sparkle to more wearing occasions and more people. Pandora Nova introduces a distinct, four-prong setting that reveals more of the diamond, so each round brilliant or princess cut stone can capture the light with more dimension, brilliance and warmth, as if floating in mid-air – like the 1 carat 14K gold and lab-grown diamond ring ($1,850). Pandora Era reimagines classic bezel and prong settings with a unique Pandora take. A pinnacle of this collection are the 14k gold trilogy pendant ($1,200) and bracelet ($990), which showcase three bezel-set stones in a row for quiet impact. PandoraTalisman features five pendant designs ($390-$990) – each a symbol like a heart or star that is also the lab-grown diamond's setting. The pendants offer an elevated take on beloved Pandora charms, crafted with 14k gold with a 0.25 or 0.75 round brilliant-cut lab-grown diamond at the center. Announcement • Aug 17
Pandora A/S Revises Earnings Guidance for the Year 2023 Pandora A/S revised earnings guidance for the year 2023. The company announced that Reflecting the solid performance YTD, the organic growth guidance range is updated to “+2% to +5%” (previously -2% to +3%). Announcement • Aug 16
Pandora A/S to Report Fiscal Year 2023 Results on Feb 07, 2024 Pandora A/S announced that they will report fiscal year 2023 results on Feb 07, 2024 Announcement • Feb 18
Pandora A/S Announces Resignation of Heine Dalsgaard from the Board of Directors Pandora A/S announced that Heine Dalsgaard has decided not to seek re-election as director at the Annual General Meeting held to be on March 16, 2023. Announcement • Feb 08
Pandora A/S Proposes Dividend for the Year 2022 Pandora A/S proposed dividend of DKK 16 per share for the year 2022. Announcement • Jan 11
Heine Dalsgaard Not to Stand for Re-Election from the Board of Pandora A/S Pandora A/S announced that due to recent changes in his executive commitments, Heine Dalsgaard has decided not to seek re-election to company's Board at the Annual General Meeting in March 2023. Heine Dalsgaard joined Pandora’s Board in March 2021. Announcement • Jun 22
Pandora A/S (CPSE:PNDORA) agreed to acquire 34 franchise stores in Portugal from VisAo Do Tempo Ii - DistribuiCAo, S.A. Pandora A/S (CPSE:PNDORA) agreed to acquire 34 franchise stores in Portugal from VisAo Do Tempo Ii - DistribuiCAo, S.A. on June 21, 2022. In 2021, the 34 stores stores generated revenue of €24 million. The deal is expected to close on July 20, 2022. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €70.84, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 17x in the Luxury industry in Europe. Reported Earnings • May 05
First quarter 2022 earnings released: EPS: kr.10.50 (vs kr.6.30 in 1Q 2021) First quarter 2022 results: EPS: kr.10.50 (up from kr.6.30 in 1Q 2021). Revenue: kr.5.69b (up 26% from 1Q 2021). Net income: kr.995.0m (up 58% from 1Q 2021). Profit margin: 18% (up from 14% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 5.7%, compared to a 13% growth forecast for the industry in Germany. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Jan Zijderveld was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €76.08, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 18x in the Luxury industry in Europe. Total returns to shareholders of 95% over the past three years. Upcoming Dividend • Mar 04
Upcoming dividend of kr.16.00 per share Eligible shareholders must have bought the stock before 11 March 2022. Payment date: 15 March 2022. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (3.4%). Higher than average of industry peers (1.5%). Reported Earnings • Feb 10
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr.42.10 (up from kr.19.97 in FY 2020). Revenue: kr.23.4b (up 23% from FY 2020). Net income: kr.4.16b (up 115% from FY 2020). Profit margin: 18% (up from 10% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 6.0%, compared to a 5.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Board Change • Nov 19
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Jan Zijderveld was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.