(AOF) – In the second quarter of 2022, the earnings per diluted share of the Danish jewelry group Pandora was 9.8 Danish crowns against 9.9 Danish crowns a year ago at the same period. Its revenue recorded organic growth of 3% (17% growth compared to the second quarter of 2019). Its revenues increased over one year, from 5.15 to 5.65 billion Danish crowns, but its Ebit margin fell from 25.1 to 22.1%.
The main European markets recorded double-digit organic growth compared to 2021. Other larger markets such as Spain and Mexico also recorded double-digit growth.
China was negatively impacted by Covid-19, which caused the group’s organic growth to decline by 4 percentage points compared to 2021 and by 7 percentage points compared to 2019.
During the second quarter of 2022, 0.7 billion Danish kroner was distributed to shareholders (3.5 billion Danish kroner since the beginning of the year). In total, Pandora plans to distribute 5.3 billion Danish kroner to its shareholders in 2022, or about 10% of its market capitalization.
However, Pandora’s full-year 2022 forecast remains unchanged. Organic growth should be in a range of 4 to 6%. As for the Ebit margin, it should be between 25 and 25.5%. The macroeconomic outlook is, moreover, marked by high uncertainty.
AOF – LEARN MORE
The axis of sustainable development now a priority
This is one of the strongest expectations of customers aged 25 to 40, who represent a growing proportion of sales. This also represents an advantage in recruitment for major luxury brands. LVMH, Fendi, Imperial College London and Central Saint Martins UAL have teamed up on a two-year research project to develop new biotextiles for fur in the sector. Recently the manifesto for a regenerative fashion, developed in partnership with the Alliance for the circular bioeconomy (CBA) was signed by Burberry, Chloé, Stella McCartney, or Armani. As for Kering, it has developed a tool that measures its CO2 emissions, water consumption and land use throughout the supply chain.