COPENHAGEN: Danish jewellery maker Pandora on Tuesday revealed a 40.2-percent increase in revenue for 2015.
Group revenue stood at 16.74 billion Danish kroner (2.52 billion U.S. dollars) in 2015, compared to 11.94 billion kroner in 2014, the company said in its annual financial report.
Revenue from concept stores accounted for 62.1 percent of revenue and increased 54.1 percent compared with 2014.
Net profit rose 18.6 percent to 3.67 billion kroner in 2015.
Pandora said the higher-than-expected revenue was mainly due to better operational performance across most markets, as well as favourable exchange rate movements during the year.
In 2016, Pandora said it would again focus on driving like-for-like growth in existing stores, and expanding the store network in newer as well as in more penetrated markets.
It expects to add more than 250 new concept stores during 2016, of which roughly 60 percent are expected to be opened in the Europe region, 20 percent in Americas and 20 percent in Asia Pacific.
Pandora expects 2016 revenue to be more than 19 billion kroner, and EBITDA margin is expected to be more than 37 percent.
Pandora on Tuesday also announced a share buy-back program for up to 4 billion kroner, which is to be executed during 2016 with the primary purpose of reducing the company’s share capital at the annual general meeting in 2017.
Pandora jewellery is sold in more than 100 countries through some 9,300 distributors, including around 1,800 concept stores.
