Business description: Pandora A/S

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%).

Number of employees: 39,000

Sales by Activity: Pandora A/S

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

Core

1.66TCr 1.92TCr 2.2TCr 2.35TCr 2.42TCr

Fuel with More

678.4Cr 727.2Cr 618.6Cr 813.9Cr 831.4Cr

Geographical breakdown of sales: Pandora A/S

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

Other Emea

- - - - 1.24TCr

United States

702.6Cr 790.7Cr 830.6Cr 970.9Cr 1.04TCr

UK

331.4Cr 380.2Cr 382.1Cr 392.9Cr 374Cr

Asia Pacific

- - - - 250.9Cr

Latin America

- - - - 212.9Cr

North America (excluding United States)

- - - - 137.6Cr

Mexico

- - 138.5Cr 142.6Cr -

Spain

- - 124.6Cr 143.6Cr -

France

112.2Cr 119Cr 119.6Cr 121.7Cr -

China

112.6Cr 74Cr 56Cr 42Cr -

Italy

244.3Cr 258Cr 254Cr 247.8Cr -

Denmark

3.2Cr 2.8Cr 3.9Cr 5.4Cr -

Australia

113.1Cr 127.1Cr 112Cr 109.4Cr -

Germany

119.1Cr 130.7Cr 152.7Cr 220.6Cr -

Rest of Pandora

600.9Cr 764.1Cr 639.2Cr 771.4Cr -

Executive Committee: Pandora A/S

Manager TitleAgeSince
Chief Executive Officer - 01/01/2026
Director of Finance/CFO 56 01/08/2018
Chief Operating Officer - 01/01/2015
Chief Tech/Sci/R&D Officer - -
Investor Relations Contact - 01/11/2022

Composition of the Board of Directors: Pandora A/S

Director TitleAgeSince
Director/Board Member 64 16/03/2023
Chairman 62 31/12/2019
Director/Board Member 74 31/08/2010
Director/Board Member 69 01/03/2016
Director/Board Member 61 11/03/2021
Director/Board Member 58 01/03/2020
Director/Board Member 63 14/08/2025
Director/Board Member 49 01/03/2020

Shareholders: Pandora A/S

NameEquities%Valuation
Parvus Asset Management Europe Ltd.
13.17 %
98,75,000 13.17 % 750 M kr
5.906 %
44,29,793 5.906 % 336 M kr
Bestinver Gestión SA SGIIC
0.6806 %
5,10,476 0.6806 % 39 M kr
Nykredit Bank A/S (Investment Management)
0.6268 %
4,70,134 0.6268 % 36 M kr
Erste Asset Management GmbH (Czech Republic)
0.3733 %
2,80,000 0.3733 % 21 M kr
NameEquities%Valuation
Obsidian Capital Pty Ltd.
0.003069 %
18,413 0.003069 % 174 813 kr
Yousif Capital Management LLC
0.00193 %
11,581 0.00193 % 109 950 kr
RhumbLine Advisers LP
0.001218 %
7,305 0.001218 % 69 354 kr
Salomon & Ludwin LLC
0.000168 %
1,006 0.000168 % 9 551 kr
GAMMA Investing LLC
0.000015 %
88 0.000015 % 835 kr

Holdings: Pandora A/S

NameEquities%Valuation
44,29,7935.91% 336 M $

Company details: Pandora A/S

Pandora AS

Havneholmen 17-19

1561, Copenhagen

+45 36 72 00 44

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

Jewelry

Change 5d. change 1-year change 3-years change Capi.($)
+0.49%-3.63%-52.51%+2.51% 631.41Cr
+0.06%-2.52%+9.04%+13.59% 12TCr
+0.78%+4.55%+21.59%+49.22% 3.97TCr
+1.40%+5.64%-2.60%-17.89% 1.46TCr
-1.77%-0.79%-44.69% - 1.13TCr
+0.59%-0.81%-30.57%-42.62% 228.59Cr
+0.99%-2.62%-15.67%-24.63% 196.61Cr
-0.64%-2.27%-10.39%-35.33% 192.45Cr
-0.26%-3.00%-13.58%+30.07% 178.31Cr
-1.77%-8.61%-24.91%-41.27% 141.1Cr
Average -0.01%-1.61%-16.43%-7.37% 2.03TCr
Weighted average by Cap. +0.20%-0.54%+4.45%+16.40%
Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
19
Last Close Price
579.20DKK
Average target price
616.78DKK
Spread / Average Target
+6.49%

Quarterly revenue - Rate of surprise