Pandora AS (CHIX:PNDORc)

Q1 2025 Pandora A/S Earnings Call Transcript

May 7, 2025 / 09:00 AM GMT

Release Date Price: kr1003.5 (+2.39%)

Transcript

Key Points

Positve

Pandora AS (PNDZF) has implemented a 9% extraordinary price increase over the past seven months, which has been well-received and helps maintain its brand accessibility.
The company is experiencing strong brand momentum in the US, with like-for-like sales running at around 6%, indicating a good start to the year.
Pandora AS (PNDZF) is actively working on cost-saving initiatives, with a strong pipeline of ideas that could lead to efficiencies in 2027 and beyond.
The company's online platform has seen a positive reception, with improvements in user experience leading to higher economic value per visitor and increased net promoter scores.
Pandora AS (PNDZF) maintains a strong relationship with the Royal Thai government, which could be beneficial in navigating tariff challenges.

Negative

Pandora AS (PNDZF) faces potential tariff impacts from imports, particularly from Thailand to the US, Canada, and Latin America, which could result in significant financial exposure.
The company anticipates a margin contraction in 2025, with the most severe impacts expected in Q2 and Q3 due to FX and commodity headwinds.
There is uncertainty in the market, particularly in the US, with lower footfall and traffic affecting consumer trading.
Pandora AS (PNDZF) has not factored in extraordinary price increases for the next year, which could impact revenue growth if inflationary pressures persist.
The company faces challenges in maintaining its EBIT margin guidance, with incremental negative impacts expected to affect the margin by 70 basis points.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PNDORA.CO - Pandora A/S
Q1 2025 Pandora A/S Earnings Call
May 07, 2025 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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For that question, the number, the 250 million krona in scenario one is a net number from in terms of the costs mitigation that we know as of as of now.

So the the gross impact would be.

And meaningfully high, I'm just trying to think how to frame that in the best way. Maybe I take it 111 by one, the.

Because on the imports from Thailand, if that is what it is, we will continue to do that so that the cross and the net number is the same, at least for the part of the products they'll be using, importing from Thailand and selling in the US, but from the products they'll be importing from. From Thailand and then into the US and then passing on to Canada and Latin America there the gross exposure could potentially be much

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