Based on strong performance in the second quarter of 2021 and a recently revised forecast for the rest of the year, Pandora upgrades its financial guidance for 2021.
Expectations for organic growth are increased to “16%-18%”, from “Above 12%”, and expectations for EBIT margin are increased to “23%-24%”, from “Above 22%”.
The updated guidance is based on the assumption that 5% of the stores will be temporarily closed or severely impacted due to COVID-19 during the second half of 2021 (previously 5-10%). Today, around 6% of the stores are temporarily closed or severely impacted due to COVID-19. The updated guidance also assumes that COVID-19 will have no major negative impact on production and supply chain. COVID-19 is still expected to impact organic growth negatively by around -6% for the full year.
CAPEX for the year is expected to be around
Pandora’s strong momentum continued in Q2 2021, with 13% organic growth vs 2019 (84% vs 2020). Please also see overview below. On average, around 15% of the stores were temporarily closed or severely impacted during Q2. The EBIT margin for Q2 2021 was 25.2%. Continued strong US performance and a sequential improvement in
Pandora is currently in silent period and will announce the detailed financial results in the Q2 2021 Interim Report on
Key revenue metrics
Q2 2021 | vs 2020 | vs 2019 |
Organic growth, % | 84% | 13% |
Sell-out growth incl. temporarily closed stores, % | 62% | 7% |
Year-to-date 2021 | vs 2020 | vs 2019 |
Organic growth, % | 42% | 5% |
Sell-out growth incl. temporarily closed stores, % | 41% | 2% |
About Pandora
Pandora designs, manufactures and markets hand-finished jewellery made from high-quality materials at affordable prices. Pandora jewellery is sold in more than 100 countries through more than 6,700 points of sale, including around 2,700 concept stores.
Headquartered in
Contact
Investor Relations John Bäckman VP, Investor Relations, Tax & +45 5356 6909 jobck@pandora.net Investor Relations Director +45 3050 1174 kram@pandora.net | Corporate Communications Director External Relations +45 4060 1415 jome@pandora.net |
Attachment
- Pandora_Company Announcement_No_640
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