February 6, 2018 / 6:39 AM / 3 months ago

BRIEF-Denmark's Pandora Launches 4 Bln Crowns Share Buyback Programme with Q4 report

Feb 6 (Reuters) - Pandora:

* REPORTS 15% REVENUE GROWTH IN LOCAL CURRENCY FOR 2017 AND 37.3% EBITDA MARGIN

* SAYS ‍IN 2018, PANDORA WILL CONTINUE TO DRIVE GROWTH AND EXPAND STORE NETWORK. GROUP REVENUE IS EXPECTED TO INCREASE 7-10% IN LOCAL CURRENCY​

* SAYS ‍EBITDA MARGIN IS EXPECTED TO BE AROUND 35% IN 2018​

* SAYS ‍CAPEX FOR YEAR IS EXPECTED TO BE AROUND 5% OF REVENUE​

* SAYS ‍EXPECTED LEVEL OF INVESTMENTS MAINLY INCLUDES INVESTMENTS IN PANDORA’S DISTRIBUTION NETWORK, IT AND CONTINUED OPTIMISATION OF COMPANY’S CRAFTING FACILITIES IN THAILAND​

* SAYS ‍IN 2018, PANDORA PLANS TO CONTINUE TO EXPAND STORE NETWORK AND EXPECTS TO ADD AROUND NET 200 CONCEPT STORES DURING YEAR​

* SAYS ‍PANDORA EXPECTS REVENUE GROWTH IN Q1 2018 TO BE SLIGHTLY BELOW GUIDED RANGE OF 7-10%​

* SAYS ‍AS IN 2017, EBITDA MARGIN IS EXPECTED TO BE SIGNIFICANTLY LOWER IN FIRST HALF OF YEAR COMPARED WITH SECOND HALF​

* SAYS ‍FOR 2018, PANDORA’S BOARD OF DIRECTORS HAS DECIDED TO INCREASE TOTAL CASH RETURN TO SHAREHOLDERS TO DKK 6.0 BILLION​

* SAYS ‍BASED ON FINANCIAL RESULTS IN 2017, BOARD PROPOSES TO RETURN DKK 2 BILLION IN DIVIDEND IN 2018​

* SAYS ‍THIS INCLUDES AN ORDINARY DIVIDEND OF DKK 9 PER SHARE AND ONE ADDITIONAL BI-ANNUAL DIVIDEND OF DKK 9 PER SHARE IN RELATION TO FIRST HALF 2018 RESULTS​

* SAYS ‍BOARD HAS DECIDED TO LAUNCH A NEW SHARE BUYBACK PROGRAMME IN 2018, UNDER WHICH PANDORA WILL BUY BACK OWN SHARES TO A MAXIMUM CONSIDERATION OF DKK 4.0 BILLION​

* Q4 REVENUE 7,603‍​ MILLION DKK VERSUS 7,623 MILLION SEEN IN REUTERS POLL

* Q4 EBITDA 3,050‍​ MILLION DKK VERSUS 3,053 MILLION SEEN IN REUTERS POLL

* CEO SAYS THE GROWTH IN PANDORA TAKES PLACE ACROSS ALL JEWELRY CATEGORIES, WHICH IS VERY SATISFACTORY‍​

* CEO SAYS IT IS POSITIVE TO SEE THAT THE ASIA PACIFIC AND EMEA REGIONS CONTINUE TO PROVIDE DOUBLE-DIGIT GROWTH RATES, WHILE ALSO THE AMERICAS REGION CONTRIBUTES POSITIVELY TO THE GROWTH, DESPITE THE DIFFICULT RETAIL MARKET IN THE UNITED STATES Further company coverage:

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