Danish jewellery brand Pandora has celebrated an "outstanding year" despite ongoing global market uncertainties. The company reported a 13% organic growth for the financial year 2024, surpassing its previously upgraded guidance of 11% to 12%.
This growth included a 7% like-for-like sales increase and a 5% network expansion, with the opening of 236 new stores in 2024, according to Pandora, as reported by .
Both revenue and earnings before interest and tax (EBIT) saw a 13% rise, reaching DKK 31.7bn (£3.54bn) and DKK 8bn (£0.89bn), respectively.
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Sales in the US, which represent just over 30% of Pandora's total sales, grew by 9% in the fourth quarter. Europe, accounting for another third, experienced flat growth, while combined sales in other regions saw an 11% increase.
Alexander Lacik, CEO of Pandora, expressed satisfaction with the company's performance: "We are pleased with how we ended 2024, particularly given the challenging macroeconomic backdrop and a competitive holiday period."
He added, "Execution of our Phoenix strategy continued to drive the brand forward throughout the entire year. In 2025, we target another year of solid and profitable growth and we have all actions lined up to continue the strong development."
Pandora, a company that exclusively uses recycled silver and gold, has initiated the construction of a new DKK 1.1bn (£112m) crafting facility in Vietnam.
The firm anticipates that this will enhance its crafting capacity by approximately 50%, generate 7,000 jobs, and produce up to 60 million pieces of jewellery annually.
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Over the past year, Pandora's share price has seen an increase of just over 35% and 4.6% in the previous month.
The company has set a target of seven to nine per cent compound annual growth for 2024-2027, propelled by its 'Phoenix' strategy, which encompasses a complete 'restaging' of the brand and a new e-commerce platform.