No. 63
COMPANY ANNOUNCEMENT
8 August 2012
We have determined an error in the section Gross Profit and Gross Marginon page 14 of Company Announcement no. 62 of 7 August 2012.
The correct section reads:
Excluding PANDORA's hedging and the time lag effect from PANDORA's inventory, the underlying gross margin would have been approximately 69% based on average gold (1,601 USD/oz) and silver (29.23 USD/oz) market prices in Q2 2012. Under the same assumptions, a 10% deviation in quarterly average gold and silver prices would impact PANDORA's gross margin by approximately 2.5 percentage points.
which section replaces the incorrect section that read:
Excluding PANDORA's hedging and the time lag effect from PANDORA's inventory, the underlying gross margin would have been approximately 66% based on average gold (1,579 USD/oz) and silver (35.48 USD/oz) market prices in Q2 2012. Under the same assumptions, a 10% deviation in quarterly average gold and silver prices would impact PANDORA's gross margin by approximately 3 percentage points.
CONTACT
For further queries, please contact:
Morten Eismark, VP Group Investor Relations
Phone +45 3673 8213
Mobile +45 3045 6719