(Finance) – Pandoraa Danish jewelry manufacturing and distribution company, announced that “after a strong close to 2023” with double-digit organic growth in the fourth quarter and solid profitability, the preliminary results for 2023 exceed guidance for the entire year announced last November.
Organic growth in fourth quarter in 2023 accelerated to +12%, supported by LFL (Like-for-Like) growth of +9%. THE revenues in the fourth quarter they amounted to 10.8 billion Danish crowns (1.45 billion euros), an increase compared to 9.9 billion the previous year, while theEBIT rose to 3.7 billion crowns (0.5 billion euros) from 3.2 billion crowns.
As a result of the strong fourth quarter performance, organic growth for theentire year 2023 reached +8%, above the previously communicated forecast of “+5% to +6%”. EBIT margin for 2023 came in at 25%, in line with the company’s guidance of “around 25%.” Full-year revenue amounted to 28.1 billion crowns, compared to 26.5 billion crowns in 2022, while EBIT rose to 7.0 billion crowns from 6.7 billion crowns.
“We are very satisfied with our results during the peak season and with how we closed 2023 – he commented Alexander LacikPresident and CEO of Pandora – It is clear that our brand resonates well with consumers and continues to gain strength.”