The Danish jewelry provider Pandora A/S has completed the 2024 financial year with a surprisingly high increase in sales. The profit also grew in double digits. This emerges from a current annual report that the company published on Wednesday.
The annual turnover was therefore 31.7 billion Danish crowns (4.2 billion euros), which corresponded to an increase by 13 percent compared to the previous year. The proceeds also grew by 13 percent on an organic basis.
In Germany, revenues increase by 44 percent
The company benefited from a plus on a comparable area (+7 percent) and the additional sales contribution of 236 newly opened branches (+5 percent) and was able to exceed its own expectations. In advance, the management had only predicted an increase of eleven to twelve percent.
The surprisingly clear growth was not least due to the strong development in Germany. In Germany, Pandora achieved an organic sales increase of 44 percent. In the United States, the most important market of the company, revenues increased by 14 percent on an organic basis.
In 2025 Pandora wants to stay on the growth course
The operational result (EBIT) increased by 13 percent compared to 2023 and was almost 8.0 billion Danish crowns. The increase was thanks to the positive sales development and a slight improvement in the EBIT margin to 25.2 percent. The designated net profit rose ten percent to 5.2 billion Danish crowns (701 million euros).
For the current financial year, management predicts organic sales growth by seven to eight percent. The opening of 50 to 75 new stores and about 25 additional shop-in-shop areas should contribute to this. Due to higher raw material prices, negative currency effects and continued investments, however, a slight decline in the EBIT margin is expected to around 24.5 percent.