Pandora reaffirms FY25 results, outlines a flatter 2026 guidance

Danish jewellery giant Pandora has reaffirmed its financial results for the fiscal year 25, during which it recorded revenue growth of 6 percent, below its initial guidance of 7 to 9 percent.

Like-for-like growth was up 2 percent, while EBIT margin came to 23.9 percent, slightly below the projected 24 percent. The company reported strong cash conversion of 65 percent.

In a statement, Pandora’s new CEO and president, Berta de Pablos-Barbier said that “while the macroeconomic backdrop was challenging, growth was below our expectations”.

“As new CEO, my priorities are clear and we have plans to strengthen brand desirability, reduce commodity exposure and evolve how we drive profitable growth,” de Pablos-Barbier added.

For 2026, Pandora is anticipating -1 to +2 percent organic growth, and an EBIT margin between 21 and 22 percent. Current trading in the first quarter is showing flat LFL growth.

The company said it would resume its share buyback programme once the plans to transition to platinum-plated jewellery progresses further, in light of surging silver prices.