For consumers


Outlook 2016

The financial guidance for the full year 2016 for revenue is maintained and PANDORA continues to expect revenue above DKK 20 billion. Assuming current exchange rates, PANDORA expects a full year headwind effect from currencies on revenue of around 4% compared with 2015. This compares to an expected headwind of around 3% anticipated in August 2016 in connection with the announcement of the Q2 2016 report. EBITDA margin guidance is changed to around 39% from previously more than 38%. The revision is primarily based on a better than expected ability to cope with the increasing production complexity, as well as marginally higher than expected operating leverage. 

All expectations are based on foreign exchange rates at the day of the Q3 2016 announcement.



FY 2016

FY 2015

Revenue, DKK billion



EBITDA margin

Approx. 39%


CAPEX, DKK million

Approx. 1,200


Effective tax rate

Approx. 21%


PANDORA plans to continue to expand the store network and expects to add more than 325 new concept stores in 2016. The concept store openings are expected to be distributed with roughly 50% in EMEA, 25% in Americas and 25% Asia Pacific.