The Danish fashion jewelry supplier Pandora A / S ended the 2021 financial year with surprisingly good results. That emerges from preliminary figures that the company presented on Monday. According to this, sales last year amounted to 23.4 billion Danish kroner (3.14 billion euros), which corresponds to organic growth of 23 percent compared to 2020. The company had previously only forecast an increase of 18 to 20 percent. Compared to the pre-crisis year 2019, revenues increased organically by nine percent.
The growth engine was again the business in the USA, where sales increased to 7.0 billion Danish kroner, organically exceeding the previous year’s level by 58 percent. According to the available figures, Pandora also achieved double-digit growth in Italy (+21 percent) and Germany (+17 percent).
According to the company, earnings before interest and taxes (EBIT) were 5.8 billion Danish kroner and thus also above expectations: The EBIT margin reached 25 percent, after a range of 24 to 24.5 percent had previously been forecast . In the previous year, Pandora had only achieved an EBIT of just under 2.7 billion Danish kroner. The group plans to present the complete and verified results for 2021 on February 9.
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