No. 86
COMPANY ANNOUNCEMENT
14 May 2013
GROUP REVENUE WAS DKK 2,002 MILLION. EBITDA MARGIN WAS 32.1%. NET PROFIT WAS DKK 438 MILLION. FREE CASH FLOW WAS DKK 406 MILLION.
UNCHANGED FINANCIAL GUIDANCE FOR 2013
PANDORA expects revenue for 2013 to be above DKK 7.2 billion and expects an EBITDA margin above 25%.
PANDORA expects CAPEX to be around DKK 300 million, excluding the one-off payment of DKK 190 million related to the purchase of IP rights from Trollbeads A/S in Q1 2013.
The effective tax rate is expected to be approximately 19%.
During 2013 PANDORA expects to open approximately 150 Concept stores.
CEO Bjørn Gulden, said:
"Although it is still early in the year, we have had a strong start. Revenue and earnings increased across all regions,positively impacted by the delivery of the Valentine's Day collection in Q1 2013, instead of, as historically, in the fourth quarter. Even more importantly, our sales-out in Concept stores has also strengthened with double digit growth in our four major markets. Some of this increase is due to the fact that Easter was in Q1 this year compared to Q2 last year, but we believe most of it is due to better products, improved marketing and better execution in the stores."
CONFERENCE CALL
A conference call for investors and financial analysts will be held today at 10.00 CET and can be accessed online atwww.pandoragroup.com. The presentation for the call will be available on the website one hour before the call.
The following numbers can be used by investors and analysts:
DK: +45 3272 8018
UK (International): +44 (0) 1452 555 131
US: +1 866 682 8490
To help ensure that the conference begins in a timely manner, please dial in 5 minutes prior to the scheduled starting time. Participants will have to quote confirmation code 42950353 when dialling into the conference.
ABOUT PANDORA
PANDORA designs, manufactures and markets hand-finished and modern jewellery made from genuine materials at affordable prices. PANDORA jewellery is sold in more than 70 countries on six continents through approximately 10,200 points of sale, including approximately 900 Concept stores.
Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs over 6,200 people worldwide of whom 4,200 are located in Gemopolis, Thailand, where the company manufactures its jewellery. PANDORA is publicly listed on the NASDAQ OMX Copenhagen stock exchange in Denmark. In 2012, PANDORA's total revenue was DKK 6.7 billion (approximately EUR 900 million). For more information, please visit www.pandoragroup.com.
CONTACT
For further queries, please contact:
INVESTOR RELATIONS
Morten Eismark
VP Group Investor Relations
Phone +45 3673 8213
Mobile +45 3045 6719
Phone +45 4323 1739
Mobile +45 3050 4402