Pandora Online grew up by 155%
Pandora distributed DKK 2.7bn to shareholders in Q1 According to the Q1 report from Pandora that highlighted, 1: Strong 21% organic growth in Q1 2022 - equal to 18% vs Q1 2019, 2: Collabs were very strong supported by a successful Marvel launch in February, 3: Pandora ME up 132% vs Q1 2021 and reached 3% share of business. Broad based organic growth across key markets vs 2019 - China continue to be a headwind, while US grew 7% (62% vs Q1 2019) – strategy on plan with acquisition of 32 franchise stores mainly located on the West coast of US as wells as entering new partnership with Macy’s. In line with normal seasonality, cash flow was negative in Q1 2022. Cash flow in Q1 was negatively impacted by a deliberate increase in inventories. Leverage ended at 0.9x NIBD to EBITDA during Q1 2022, DKK 2.7 billion was distributed to shareholders. Pandora a strong performance across key European markets, all delivering double digit positive organic growth vs 2019, Online also continue