Pandora Same Store Sales In The Third Quarter Increased By 4% Over The Same Period Last Year.

Denmark

Manufacturer

On Tuesday, the third quarter earnings report was released, and the data met expectations. The company also raised the estimate of the profit margin before the year's tax depreciation and amortization.

The data in the third quarter are as follows:

The sales volume is 4 billion 600 million DK, slightly lower than the analyst's forecast of 4 billion 700 million DK.

Same store sales grew 4% year on year

Gross profit margin increased to 75.1%, compared with 74% in the same period last year.

EBITDA (interest tax depreciation and amortization profit before) was 1 billion 840 million Danish kronor, an increase of 27% over the previous year, and the profit margin before tax depreciation and amortization was 39%, higher than the previous 38%.

Net profit was 1 billion 400 million DKK, compared with 1 billion DKK in the same period last year.

1 million 478 thousand and 400 shares of Pandora stock were repurchased, with a total value of about 1 billion 238 million DKK.

Profit margins and net profits before tax depreciation and amortization exceed analysts' expectations.

The region with the best performance in the quarter was the Asia Pacific region, with sales growth of 46% and the lowest growth rate in the Americas region, 6%.

"We have increased profitability and increased EBITDA profitability to 39.9%, mainly due to leverage and low leverage," said Anders Colding Friis, the company's chief executive.

Purchase price. "

Alm. Brand analyst Michael Jorgensen thinks: the new store opening speed of Pandora is faster than expected, which is an important reason for their rapid development, but the growth rate of same store sales is relatively slow.

Pandora is expanding its influence in the Asian market and improving sales in the Asian market. "

He added that the sales figures in the US were somewhat disappointing, but fortunately the same store sales increased by 3%.

Since its listing in 2010, its stock price has increased by more than three times, and its annual sales in the past four years have increased by two digits.

Michael Jorgensen predicts that stocks will rise a few percentage points at the opening of the market, and Pandora shares are worth buying.