Danish jewellery maker Pandora (OMX: PNDORA) has quietly been staging a comeback in the past few months as a return to a proven strategy appears to be working thus far. New product lines seem to have had a good start as well going into the most important quarter of the year for the firms in the industry. With Q3 2012 interim report released this week the company reported almost 1.8 billion DKK in quarterly sales, which is over 14% better than last year. EBITDA came in around half a billion, net profit at 380 million while free cash flow was negative.
One thing that is very important is to be able to trust the guidance of the firm. In connection with the Q3 numbers, Pandora raised revenue and EBITDA margin guidance albeit mostly due to currency effects but that is nonetheless a welcome shift from clear misses. The yearly guidance stands now at revenue >6.3 billion, gross and EBITDA margins of mid 60's ad mid 20's (earlier revenue > 6 billion, EBITDA% low 20's) respectively.
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