Pandora reports profit decline in third quarter despite sales growth

Danish jewellery company Pandora A/S continued to increase its sales in the third quarter of the 2025 financial year, despite challenging conditions. Its profit, however, fell short of the previous year's level. This was announced in an interim report published by the company on Wednesday.

In the period from July to September, group sales amounted to 6.27 billion Danish kroner. This represented a growth of 3 percent compared to the same quarter last year. Adjusted for currency fluctuations, revenue increased by 7 percent, and on an organic basis, it grew by 6 percent. The increase was driven by the opening of new stores and a 2 percent rise in like-for-like sales.

The company recorded growth in markets including the US, its most important market by far, and Australia. Declines were noted in China and other key European markets. For instance, quarterly revenue in Germany fell by 7 percent on an organic basis to 402 million Danish kroner.

Higher tariffs, increased raw material prices and negative currency effects impact results

Higher tariffs, increased raw material prices and negative currency effects impacted the results in the most recent quarter. Operating profit (EBIT) decreased by 10 percent year-over-year to 880 million Danish kroner. Net profit shrank by almost 18 percent to 489 million Danish kroner.

In light of these additional pressures, management has adjusted its medium-term profit forecast. For the 2026 financial year, it now expects an EBIT margin of approximately 23 percent. The previous forecast had projected “at least 24 percent”.

The targets for the current year remain largely unchanged. The company still anticipates organic sales growth of 7 to 8 percent and an EBIT margin of around 24 percent.

This article was translated to English using an AI tool.

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