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Group revenue in Q1 2016 was DKK 4,740 million, an increase of 34% (35% increase in local currency), compared with Q1 2015:
- Americas increased by 13% (13% increase in local currency)
- EMEA increased by 47% (49% increase in local currency)
- Asia Pacific increased by 58% (62% increase in local currency)
- Revenue from concept stores increased by 61% and corresponded to 60% of the total revenue
- The gross margin increased to 74.6% in Q1 2016, compared with 71.1% in Q1 2015
- EBITDA increased by 35% to DKK 1,760 million in Q1 2016, corresponding to an EBITDA margin of 37.1%, compared with 36.8% in Q1 2015
- Net profit for the quarter was DKK 1,306 million, compared with a net profit of DKK 383 million in Q1 2015. Q1 2015 was negatively impacted by an additional tax expense of DKK 364 million as well as a higher financial costs
- Free cash flow increased 37% to DKK 1,356 million in Q1 2016 compared with DKK 990 million in Q1 2015
- During Q1 2016, PANDORA bought back 828,323 own shares at a total value of DKK 687 million as part of the ongoing DKK 4.0 billion share buyback programme, corresponding to 0.7% of the total share capital as of end Q1 2016
- Revenue guidance for 2016 increased to more than DKK 20 billion (from more than DKK 19 billion) and EBITDA margin guidance increased to more than 38% (from more than 37%).
In connection with the Q1 2016 results Anders Colding Friis, CEO of PANDORA, stated:
“We have had a very strong start to the year, with all geographic regions, as well as all product categories delivering double digit growth rates. Revenue growth was driven by growth in our existing stores, especially in EMEA and Asia Pacific, as well as continued expansion of the concept store network across all regions. Furthermore, we improved our profitability for the quarter, resulting in a continuing strong cash flow.”
CONFERENCE CALL
A conference call for investors and financial analysts will be held today at 10.00 CET and can be joined online at www.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 38 32 28 69
UK (International): +44(0) 20 3427 1916
US: +1 212 444 0896
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 “PANDORA” when dialling into the conference.
FINANCIAL CALENDAR
9 August 2016 Interim Report for the second quarter of 2016
1 November 2016 Interim Report for the third quarter of 2016
ABOUT PANDORA
PANDORA designs, manufactures and markets hand-finished and contemporary jewellery made from high-quality materials at affordable prices. PANDORA jewellery is sold in more than 100 countries on six continents through approximately 9,000 points of sale, including more than 1,800 concept stores.
Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs more than 16,700 people worldwide of whom approximately 11,000 are located in Gemopolis, Thailand, where the Company manufactures its jewellery. PANDORA is publicly listed on the NASDAQ Copenhagen stock exchange in Denmark. In 2015, PANDORA’s total revenue was DKK 16.7 billion (approximately EUR 2.2 billion).
CONTACT
For more information, please contact:
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INVESTOR RELATIONS Morten Raunholt Eismark VP Group Investor Relations Phone +45 3673 8213 Mobile +45 3045 6719 |
MEDIA RELATIONS Kristian Lysgaard Director, Group Communications Phone +45 4323 1774 Mobile +45 2556 8561 |
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Magnus Thorstholm Jensen Senior Investor Relations Officer Phone +45 4323 1739 Mobile +45 3050 4402 |
