Pandora Reports 11% Organic Growth in Q3

Pandora A/S reported strong Q3 2024 results with an 11% organic growth, marking its fifth consecutive quarter of double-digit expansion. The company attributed this success to its Phoenix strategy, which emphasizes brand transformation and customer experience, with particular highlights including a 42% growth in Germany and 6% growth in the US market. The gross margin improved to 80.1%, although the EBIT margin slightly decreased to 16.1% due to external pressures. The launch of the PANDORA ESSENCE collection and a surge in personalized services, particularly engraving, significantly contributed to revenue. Looking forward, Pandora has raised its organic growth guidance to 11-12% while maintaining an EBIT margin target of around 25%. CEO Alexander Lacik expressed optimism about the company’s performance amidst challenging macroeconomic conditions.