According to Pandora’s Q1 2016 interim report announced on 10 May 2016, the group’s revenue reached DKK 4,740 million with an increase of 34 percent (35 percent in local currency) compared to Q1 2015. Revenue increased by 13 percent in Americas, 47 percent in EMEA (Europe, the Middle East and Africa) and 58 percent in Asia Pacific. In particular, revenue generated from concept stores rose by 61 percent and accounted for 60 percent of total revenue of the group.
Gross margin increased to 74.6 percent in Q1 2016, compared with 71.1 percent in Q1 2015. EBITDA (earnings before interest, tax, depreciation and amortisation) increased by 35 percent to DKK 1,760 million in Q1 2016, corresponding to an EBITDAmargin of 37.1 percent, compared with 36.8 percent in Q1 2015. Free cash flow increased 37 percent to DKK 1,356 million in Q1 2016 compared with DKK 990million in Q1 2015.
According to Anders Colding Friis, CEO of Pandora, all product categories delivered double-digit growth rates. Revenue growth was driven by growth in existing stores especially in EMEA and Asia Pacific as well as expansion of concept stores in all regions.
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