Business description: Pandora

Pandora A/S specializes in the design, manufacturing and marketing of jewelry and related items. Net sales break down by product family as follows:

- charms and carriers (74.5%);

- other (25.5%): rings, necklaces, pendants, earrings, chains and diamonds.

At the end of 2025, the group had 6,998 points of sale (of which 2,811 concept stores) worldwide.

Net sales are distributed geographically as follows: Europe/Middle East/Africa (49.7%), North America (36.1%), Asia/Pacific (7.7%) and Latin America (6.5%).

Sales by Activity: Pandora

Fiscal Period: December 2021 (DKK) 2022 (DKK) 2023 (DKK) 2024 (DKK) 2025 (DKK)

Core

16.61B 19.19B 21.95B 23.54B 24.24B

Fuel with More

6.78B 7.27B 6.19B 8.14B 8.31B

Geographical breakdown of sales: Pandora

Fiscal Period: December 2021 (DKK) 2022 (DKK) 2023 (DKK) 2024 (DKK) 2025 (DKK)

Other Emea

- - - - 12.41B

United States

7.03B 7.91B 8.31B 9.71B 10.39B

UK

3.31B 3.8B 3.82B 3.93B 3.74B

Asia Pacific

- - - - 2.51B

Latin America

- - - - 2.13B

North America (excluding United States)

- - - - 1.38B

Mexico

- - 1.38B 1.43B -

Spain

- - 1.25B 1.44B -

France

1.12B 1.19B 1.2B 1.22B -

China

1.13B 737M 564M 416M -

Italy

2.44B 2.58B 2.54B 2.48B -

Denmark

32M 28M 39M 54M -

Australia

1.13B 1.27B 1.12B 1.09B -

Germany

1.19B 1.31B 1.53B 2.21B -

Rest of Pandora

6.01B 7.64B 6.39B 7.71B -

Executive Committee: Pandora

Manager TitleAgeSince
Chief Executive Officer - 2025-12-31
Director of Finance/CFO 56 2018-07-31
Chief Tech/Sci/R&D Officer - -
Investor Relations Contact - 2022-10-31
Corporate Officer/Principal - 2026-03-08

Composition of the Board of Directors: Pandora

Director TitleAgeSince
Director/Board Member 69 2016-02-29
Chairman 62 2019-12-30
Director/Board Member 58 2020-02-29
Director/Board Member 49 2020-02-29
Director/Board Member 61 2021-03-10
Director/Board Member 64 2023-03-15
Director/Board Member 63 2025-08-13

Shareholders: Pandora

NameStocks%Valuation
Parvus Asset Management Europe Ltd.
13.17 %
9,875,000 13.17 % 1 305 M kr
5.906 %
4,429,793 5.906 % 585 M kr
Bestinver Gestión SA SGIIC
1.384 %
1,038,319 1.384 % 137 M kr
Erste Asset Management GmbH (Czech Republic)
0.6 %
450,000 0.6 % 59 M kr
First Fondene AS
0.3501 %
262,604 0.3501 % 35 M kr
NameStocks%Valuation
Obsidian Capital Pty Ltd.
0.003071 %
18,427 0.003071 % 304 303 kr
RhumbLine Advisers LP
0.001534 %
9,206 0.001534 % 152 028 kr
GAMMA Investing LLC
0.000965 %
5,790 0.000965 % 95 616 kr
Salomon & Ludwin LLC
0.000118 %
708 0.000118 % 11 692 kr
PNC Wealth Management LLC
0.000018 %
108 0.000018 % 1 784 kr

Holdings: Pandora

NameStocks%Valuation
4,429,7935.91% 585 M $

Company details: Pandora

Pandora AS

Havneholmen 17-19

1561, Copenhagen

+45 36 72 00 44

http://www.pandoragroup.com
address Pandora(PNDORA)

Jewelry

Change 5-day change 1-year change 3-year change Capi.($)
-1.26%-5.85%+16.55%+47.78% 127B
+0.40%-1.18%+38.04%+56.59% 46.55B
-1.65%-5.01%-26.25%+2.40% 15.27B
+0.27%-3.62%-5.95%+10.19% 8.85B
-3.34%+0.68%-52.56% - 9.04B
-2.77%+2.16%-38.79%-46.18% 2.21B
-1.24%-1.00%-10.27%-29.02% 2.02B
-1.49%-1.49%-27.39%-37.80% 1.74B
-0.40%+0.75%-2.06%+13.09% 1.72B
Average -1.27%-2.02%-12.08%+2.13% 23.84B
Weighted average by Cap. -0.93%-5.18%+13.00%+42.00%
Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
19
Last Close Price
806.60DKK
Average target price
853.39DKK
Spread / Average Target
+5.80%

Quarterly revenue - Rate of surprise

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