The Danish jewelry supplier Pandora A/S continued to increase its sales in the third quarter of the 2025 financial year despite difficult conditions. However, the profit fell short of the previous year’s level. This emerges from an interim statement that the company published on Wednesday.
In the period from July to September, group sales amounted to 6.27 billion Danish crowns (839.8 million euros). This corresponded to growth of three percent compared to the same quarter of the previous year. Adjusted for exchange rate changes, revenues rose by seven percent; on an organic basis they increased by six percent. The increase was based on the opening of new branches and a two percent increase in like-for-like sales.
The company was able to record growth in, among other places, the USA, by far its most important market, and in Australia. However, things went down in China and in important European markets. Quarterly revenues in Germany fell on an organic basis by seven percent to 402 million Danish crowns (54 million euros).
Higher tariffs, increased raw material prices and negative currency effects are weighing on earnings
Higher tariffs, increased raw material prices and negative currency effects weighed on earnings in the most recent quarter. The operating profit (EBIT) fell by ten percent to 880 million Danish crowns compared to the same period last year. Net profit shrank by almost 18 percent to 489 million Danish crowns (66 million euros).
In view of the additional burdens, management felt compelled to adjust its medium-term earnings forecast. For the 2026 financial year, it now only expects an EBIT margin of around 23 percent. “At least 24 percent” had previously been promised.
The targets for the current year remained essentially unchanged. Organic sales growth of seven to eight percent and an EBIT margin in the region of 24 percent are still expected.