Pandora has reported a “historical” 2021 fourth quarter (Q4) record performance and exceeded forecasts for the entire year based on its preliminary results.
Estimated revenues in Q4 amounted to DKK9 billion ($AU1.91 billion) and the full-year figure of DKK 23.4 billion ($AU4.96 billion) have been considered as the “highest ever for Pandora”, driven by “robust and broad-based growth” across key markets, especially in the US.
Sales performance remained strong despite the temporary closure of several physical stores due to COVID-19 lockdown measures in the last quarter.
“We are very pleased with the results in 2021,” Alexander Lacik, chief executive officer, Pandora said in a statement, noting that the company “has returned to growth, and we deliver[ed] all-time high revenue. It is encouraging that we see broad-based growth.”
Full-year preliminary results saw an increase in organic growth by 23 per cent compared with the same period in 2020, which exceeded the “lifted” forecast guidance of 18-20 per cent issued in November last year.
Earnings before interest and taxes were also reported at 25 per cent compared with the 24-24.5 per cent forecast guidance.
The US market posted the highest revenue contribution in Q4 estimated at DKK2.5 billion ($AU530 million) and full-year sales estimated at DKK7 billion ($AU1.48 billion).
Organic sales in the US increased by 18 per cent compared with the same period in 2020 and sell-out growth increased by 59 per cent during the first nine months of 2021 when measured against the 2019 pre-COVID period.
The company, which is considered as the largest jewellery maker worldwide in terms of production capacity, is scheduled to release its final Annual Report 2021 and Q4 2021 Interim Report on 9 February.
Pandora Jewelry restructures Asia-Pacific operations
Pandora through the pandemic: a turnaround in the making?
Pandora Jewelry introduces lab-created diamond range, phases out natural diamonds