Pandora Reports Strong Performance in 2023
Pandora, the Danish jeweler, has announced that its full-year performance in 2023 exceeded expectations. The company experienced solid profitability in the fourth quarter, highlighted by a successful Black Friday and Christmas period.
Organic Growth Surpasses Guidance
According to Pandora, organic growth for 2023 reached 8%, surpassing the company's guidance range of 5% to 6%. Additionally, the earnings before interest and taxes (EBIT) margin for 2023 stood at 25%, aligning with the company's guidance.
Fourth Quarter Revenue Increase
Pandora reported a significant revenue increase during the fourth quarter, generating 10.8 billion Danish kroner ($1.58 billion) compared to DKK9.9 billion in the same period the previous year. As a result, the full-year revenue totaled DKK28.1 billion, up from DKK26.5 billion in the previous year.
Impressive Quarterly Organic Growth
The company experienced a remarkable 12% organic growth during the quarter, driven by a broad-based increase in like-for-like sales of 9%.
Strong Sales Growth in Key Markets
Pandora highlighted solid sales growth of 5% in its main European markets, while witnessing an acceleration in the United States to 10%.
CEO's Statement
Chief Executive Alexander Lacik expressed his satisfaction with the company's performance, stating, "We are very pleased with our results across the peak trading season and how we closed 2023. It's clear that our brand resonates well with consumers and continues to gain strength."
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