Pandora - dänischer Schmuckhersteller (Seite 38)

[easyfischer]

Wie auch immer -70% Abschlag nur weil man auf Vorjahresniveau in 2011 bleiben wird, sind imho völlig übertrieben ... Vorjahresniveau beim Kurs waren 35 EUR. Technische Erholung auf 10 EUR rechne ich fest mit im laufe der nächsten Tage.

[R-BgO]

Antwort auf Beitrag Nr.: 41.877.322 von Jo1 am 02.08.11 09:41:48

Das Problem ist, dass man bei SO großen Überraschungen den Zahlen eigentlich gar nicht mehr trauen kann; und in der Bilanz ist reichlich Immaterielles...

[Jo1]

Antwort auf Beitrag Nr.: 41.877.311 von R-BgO am 02.08.11 09:40:02

böse Sache, wobei ich die aktuelle Bewertung kaum nachvollziehen kann...

[R-BgO]

Antwort auf Beitrag Nr.: 41.877.286 von ichhabs am 02.08.11 09:35:11

siehe #15...

[ichhabs]

was ist denn hier los???

[R-BgO]

um 9:09 sind tatsächlich 1.000 Stück für 6,25 über den Tisch gegangen...

[R-BgO]

UPPS!!!!


August 2, 2011
Update on financial expectations for 2011 - CEO departs
No. 30


COMPANY ANNOUNCEMENT

02 August 2011

The Board of Directors has decided to update financial expectations for 2011 based on a review of financial results for Q2 2011 and preliminary revenue for July 2011, given a sharp revenue deterioration in late Q2 and a worsening of trading conditions in July, where revenue declined by approximately 30% year-on-year.

Based on this knowledge, our guidance has changed from expecting a revenue growth of no less than 30% for 2011 and an EBITDA margin of minimum 40% to revenue in 2011 in line with 2010 and EBITDA margins in the low thirties for 2011. We expect CAPEX to amount to approximately DKK 230 million and the effective tax rate to be approximately 18%.


Furthermore:

CEO Mikkel Vendelin Olesen has resigned from the Company with immediate effect.

Current Board Member Marcello Bottoli will become interim CEO and the Company will embark on recruitment for a new CEO.

Our growth has been impacted by the cumulative effect of substantial price increases in
the light of soaring commodity price increases.

In addition our sales, marketing and operational execution has been poor in many cases and is as big a contributory factor.

The re-set of our affordable luxury positioning, improved operational execution and restoring growth trajectory is now the focus of our company.

This re-set will take up to 18 months to see through.

In addition, the company has instigated a strategic review to test or confirm certain elements of the company strategy.

The Board of Directors has further decided to bring forward the release of a condensed financial report for the second quarter 2011 - previously expected to be released on Tuesday 16 August 2011. The Q2 financial report will be released subsequently to this release and a conference call for investors and financial analysts will be held today at 10.00 CET.

Allan Leighton, Chairman of the Board said: "Although our price increases combined with some destocking are significant contributors to our slowdown in sales and profitability, our own inadequate operational sales, and marketing execution is as big a factor."


BACKGROUND FOR CHANGE IN FINANCIAL EXPECTATIONS FOR 2011

The cumulative effect of our recent global price increases of approximately 15% on top of price increases already implemented in USA and UK in 2010 has had a negative volume impact on our sales-out in an environment where consumers are becoming increasingly value conscious.

In addition, our sales-in has been impacted negatively by some retailers' destocking, due to lower sales-out and uncertain economic outlook, on top of already high levels of PANDORA inventory.

The volume impact of our cumulative price increases has been more substantial than forecasted. Our revenue increased by only 3.6% (10.2% in local currency) to DKK 1,392 million and our EBITDA decreased by 6.2% to DKK 512 million in Q2 2011 against the same period last year.

[Jo1]

Antwort auf Beitrag Nr.: 41.570.657 von AR1 am 28.05.11 11:05:53

Die aktuelle hohe Volatilität könnte auf eine Trendwende hindeuten. Goldman Sachs hat den Wert mit Upside 85 % in ihre Conviction Buy Liste aufgenommen.

Bin seit 21,10 dabei...

[AR1]

Hallo zusammen,

ich interessiere mich auch für diese Aktie.

Kann jemand sagen wo es noch weitere Informationen als auf der Homepage gibt ?

Was sind denn wohl die Gründe das sich der Wert seit Börsengang halbiert hat ?

Grüsse an alle.

[R-BgO]

Pandora A/S: INTERIM REPORT FOR Q1 2011

No. 27 COMPANY ANNOUNCEMENT 19 May 2011

INTERIM REPORT FOR Q1 2011

REVENUE GREW BY 41.0% DRIVEN BY GROWTH ACROSS ALL REGIONS AND JEWELLERY CATEGORIES. NET PROFIT WAS UP BY 90.7%.

• Revenue increased by 41.0% to DKK 1,745 million compared to DKK 1,238 million in Q1 2010

• Gross margin increased to 71.6% in Q1 2011 compared to an adjusted gross margin of 70.8% in Q1 2010

• EBITDA increased by 49.6% to DKK 709 million resulting in an EBITDA margin of 40.6% compared to an adjusted EBITDA margin of 42.3% in Q1 2010

• EBIT increased by 54.6% to DKK 637 million resulting in an EBIT margin of 36.5% compared to an adjusted EBIT margin of 37.3% in Q1 2010

• Net profit increased by 90.7% to DKK 515 million compared to a reported net profit of DKK 270 million in Q1 2010

• Free cash flow was DKK 476 million in Q1 2011 compared to DKK 212 million in Q1 2010

Mikkel Vendelin Olesen, PANDORA's Chief Executive Officer, said: "We experienced strong underlying growth in Q1 and implemented price increases in most markets to balance the impact of rising gold and silver prices. Our performance was based on a combination of good volume and product mix developments in existing and new stores across markets. We are particularly pleased with our continued ability to deliver superior margins in part as result of our combined hedging policy and inventory effect. We remain focused on delivering very strong growth by increasing penetration in existing markets, upgrading existing stores as well as developing new markets. Our updated financial outlook for 2011 remains unchanged."

ASSESMENT OF MARKET CONDITION Reaction to our price increases have varied across markets depending on timing of the price increase, the current consumer environment and the strength of the PANDORA brand in that market. Whilst the overall feedback from customers and consumers has been cautiously positive, in some markets we have seen a moderate slowdown in the immediate aftermath of price increases. In general, there is some impact on volumes in the 2- 4 months following a price increase, after which volumes gradually recover.

Performance in Americas, including our largest market - the US, and Asia continues to be in line with Q1 performance. Some European markets have seen a more moderate development with continued weakening of consumer confidence. In Germany and Australia price increases do not have effect until Q2 and we are therefore waiting to see the full impact of the price increases in these markets.

In Australia we maintain our strong market position.

Germany we see as an opportunity market, not a mature market. Our current performance is not satisfactory and we have taken steps managerially and in terms of trade and consumer interface to drive what we believe to be considerable long-term growth.

Network expansion in new markets such as Italy, Russia, China and Japan continue to be on track and we expect these markets to contribute positively towards the group's overall performance.

Margin development is in line with year-end outlook as result of our anticipated volumes for 2011 being nearly fully hedged against gold and silver prices.

UNCHANGED FINANCIAL OUTLOOK FOR 2011 For 2011, PANDORA expects a revenue increase of no less than 30% and an EBITDA margin of minimum 40%. We also expect CAPEX to account for approximately 3% of total Group revenue and the effective tax rate to be approximately 18%.