Pandora's performance surged in the fourth quarter, nurturing an 83% growth in the diamond sector
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Pandora Jewelry announced on Sunday that it achieved sales of DKK 10.8 billion in the fourth quarter of 2023, with an organic growth rate of 12% and a comparable year-on-year growth rate of 9% (like for like growth, also known as "LFL").
The pre tax profit margin (EBIT) for the quarter was as high as 34%, surpassing the same period in 2022 (32.5%).
Overall, for the fiscal year 2023, Pandora's EBIT was 25%, slightly lower than the fiscal year 2022 (25.5%).
In various sub sectors, the LFL growth rate of Cultivating Diamond's fourth quarter performance was 83%, and the LFL growth rate in the 2023 fiscal year was 116%.
Although the fourth quarter performance mentioned above has not been audited, the company is still very satisfied with the data obtained so far.
However, if we observe all key markets, the performance of the Chinese market is relatively the worst. (As shown in the figure below)
In the fourth quarter, Pandora's sales LFL and organic growth rate in the Chinese market were both negative (-12% and -13%).
Taking into account the fiscal year 2023, the situation in this market is also similar (-9% and -18%).
By contrast, whether in the fourth quarter or fiscal year 2023, the fastest growing market was in Germany, followed by the US and France markets.
As the current data has not been audited, Pandora and international media have not yet analyzed and interpreted the above phenomenon. Pandora is expected to release her 2023 financial report around February 7th, and we will track and interpret it at that time.
