Primarily based on a powerful begin to 2021 and the up to date forecast for the remainder of the 12 months, Pandora upgrades its monetary steering for 2021.
Natural progress is elevated to “Above 12%”, from “Above 8%”, and EBIT margin is elevated to “Above 22%”, from “Above 21%”.
The up to date steering relies on the idea that 20-25% of the shops shall be briefly closed as a consequence of COVID-19 throughout the first half of 2021 and 5-10% within the second half. Beforehand, the expectation was 25% momentary shops closures within the first half of 2021. That is anticipated to affect natural progress negatively by round -6% for the total 12 months. Immediately, round 20% of Pandora’s shops are briefly closed as a consequence of COVID-19 restrictions.
CAPEX for the 12 months continues to be anticipated to be within the vary between DKK 1.0-1.2 billion and no main adjustments to the general idea retailer community are anticipated. The efficient tax fee is anticipated to be 22-23%, in keeping with 2020.
Pandora is presently in silent interval and can, as deliberate, announce the detailed monetary leads to the Q1 2021 Interim Report on 4 Might 2021. Moreover, Pandora will present an preliminary and high-level overview of the brand new technique and host an prolonged convention name.
Pandora designs, manufactures and markets hand-finished jewelry constructed from high-quality supplies at inexpensive costs. Pandora jewelry is offered in additional than 100 international locations by virtually 7,000 factors of sale, together with round 2,700 idea shops.
Headquartered in Copenhagen, Denmark, Pandora employs 26,000 individuals worldwide and crafts its jewelry at two LEED licensed amenities in Thailand utilizing primarily recycled silver and gold. The corporate plans to be carbon impartial by 2025 and has joined the Science Primarily based Targets initiative to scale back emissions throughout its full worth chain. Pandora is listed on the Nasdaq Copenhagen inventory trade and generated gross sales of DKK 19.0 billion (EUR 2.5 billion) in 2020.
VP, Investor Relations, Tax & Treasury
+45 5356 6909
Kristoffer Aas Malmgren
Director Exterior Relations
+45 4060 1415