Pandora Q3 EBIT At DKK 880 Mln
Pandora A/S 
PNDORA:
OUTLOOK FY ORGANIC GROWTH 7-8%
OUTLOOK FY EBIT MARGIN 24%
Q3 EBIT DKK 880 MILLION VERSUS. ESTIMATE DKK 873 MILLION
Q3 EBIT MARGIN 14% VERSUS. ESTIMATE 13.8%
Q3 SALES DKK 6,269 MILLION VERSUS. ESTIMATE DKK 6,328 MILLION
DURING Q3, PANDORA PURCHASED SHARES FOR DKK 1.5 BILLION, BRINGING TOTAL BUYBACKS TO DKK 3.4 BILLION YTD
MAINTAINS GUIDANCE FOR 2025 OF "7-8% ORGANIC GROWTH"
LFL GROWTH IS NOW EXPECTED TO BE 3-4% (PREVIOUSLY 4-5%)
EXPECTS 2025 NETWORK EXPANSION 4% (PREVIOUSLY 3%).
EBIT MARGIN GUIDANCE FOR 2025 IS ALSO MAINTAINED AT "AROUND 24%"
WE EXPECT TO OUTGROW JEWELLERY MARKET, TARGETING ANNUAL HIGH SINGLE-DIGIT ORGANIC GROWTH,
REVISES ITS FY 2025 STORE OPENING GUIDANCE TO AROUND NET 25 CONCEPT STORES (PREVIOUSLY 25-50)
CLOSURE OF UP TO 100 CONCEPT STORES IN CHINA, REFLECTING FURTHER EFFORTS TO OPTIMISE FINANCIAL PERFORMANCE
STILL EXPECTS TO OPEN AROUND 25 PANDORA OPERATED SHOP-IN-SHOPS IN 2025
COST EXPECTED TO CONTRIBUTE WITH NET 50-100BP MARGIN UPLIFT IN 2026 EQUAL TO NET SAVINGS OF DKK 175-350 MILLION
COST SAVINGS BENEFITS ARE EXPECTED TO BE SEEN FROM Q1 2026 ONWARDS
POTENTIAL EBIT MARGIN UPLIFT RELATED TO INNOVATION IS NOT EXPECTED UNTIL 2027
LFL GROWTH OF 2% IN Q3
FOREIGN EXCHANGE RATES REPRESENTED A 4% HEADWIND IN Q3