January 11, 2018 / 7:45 AM / 5 months ago

BRIEF-Pandora warns on 2017 revenue and EBITDA margin, CFO resigns

Jan 11 (Reuters) - Pandora A/S:

* REPORTS 2017 PRELIMINARY REVENUE OF DKK 22.8 BILLION AND EBITDA MARGIN OF 37.3%

* 2017 REVENUE ‍22.8​ BLN DKK VS GUIDANCE AT LOW END OF 23-24 BLN DKK RANGE; 22.9 BLN DKK ANALYSTS ESTIMATE

* SAYS ‍IN Q4 2017, LIKE-FOR-LIKE SALES-OUT GROWTH FOR PANDORA OWNED CONCEPT STORES WAS 15%, MAINLY DRIVEN BY A STRONG PERFORMANCE BY ESTORE​

* SAYS ‍2017 EBITDA MARGIN IS EXPECTED TO BE 37.3% COMPARED WITH PANDORA’S FULL YEAR GUIDANCE OF APPROXIMATELY 38%​

* SAYS ‍CAPEX FOR 2017 IS EXPECTED TO BE 6% OF REVENUE VERSUS EARLIER EXPECTED APPROXIMATELY 5% OF REVENUE​

* SAYS ‍IN 2017, PANDORA OPENED NET 308 CONCEPT STORES VERSUS EXPECTATIONS OF MORE THAN 300​

* CEO SAYS ‍2017 RESULTS ARE CLOSE TO TARGETS WE SET OURSELVES AT BEGINNING OF YEAR, BUT WE ARE OF COURSE DISAPPOINTED TO NOT FULLY REACH TARGETS​

* CEO SAYS ‍SEVERAL EXTERNAL FACTORS HAVE WORKED AGAINST US DURING 2017, INCLUDING A DIFFICULT US RETAIL CLIMATE AS WELL AS AN UNFAVORABLE CURRENCY DEVELOPMENT

* CFO AND MEMBER OF EXECUTIVE MANAGEMENT IN PANDORA A/S PETER VEKSLUND HAS DECIDED TO RESIGN AND LEAVE THE COMPANY, ANDERS BOYER (47) IS APPOINTED NEW CFO ​ Source text for Eikon: Further company coverage: (Reporting by Stine Jacobsen)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below