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Pandora Sees Slowdown, But Holds Strong Margins
9 Jan
Summary
- Pandora's Q4 2025 organic growth was 4%, below expectations.
- Weak consumer sentiment in North America impacted Q4 2025.
- The company will announce full-year results on February 5, 2026.
Pandora's preliminary Q4 2025 results show an organic growth of 4%, a figure impacted by subdued consumer sentiment, particularly in North America. Despite these challenges, the jewelry brand managed to achieve an estimated EBIT margin of around 33.5%, driven by strong gross margins and effective cost control.
The company has revised its full-year 2025 organic growth forecast to 6%, down from its earlier projection of 7-8%. Pandora anticipates its 2025 EBIT margin to be approximately 24%. The upcoming announcement of full-year results on February 5, 2026, will also unveil the new CEO's strategic priorities, which include reducing commodity exposure.
Regional performance varied, with notable strength in Spain and Poland contrasted by softness in Italy and Latin America. Analysts currently hold a "hold" recommendation on Pandora shares, with a median 12-month price target of DKK828.00, suggesting potential upside from its recent trading price.
