(CercleFinance.com) – Pandora unveiled annual results on Wednesday without any major surprises, which were more than offset by prospects considered rather encouraging by analysts.
The Danish jeweler said this morning that it expects organic sales growth of between 6% and 9% this year, accompanied by an operating margin (Ebit) of 25%.
For comparison, analysts on average anticipated an organic growth forecast of 8% for 2024, for an operating margin of 25.5%.
‘We do not expect market earnings forecasts to change much following this outlook,’ commented RBC analysts.
‘The big question is to what extent investors will consider these targets prudent, especially with regard to sales growth,’ adds the Canadian broker.
For 2023, Pandora actually reported organic growth of 8%, while it had initially set itself a target of 5% to 6%.
Its operating margin (Ebit) stood at 25%, in accordance with the objective that the group had communicated.
In its press release, Pandora indicates that it intends to pay its shareholders an annual dividend of 18 crowns per share, while the consensus expected 16 crowns, while planning the launch of a new share buyback program of four billion crowns for the next 12 months.
Following these announcements, Pandora shares were on a modest rise (+0.5%) this Wednesday on the Copenhagen Stock Exchange.
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