Pandora, revenue increase 30% driven by positive development across all regions.
Pandora Group revenue in Q1 2014 was DKK 2,592 million, an increase of 29.5% or 34.0% in local currency, compared with Q1 2013. Americas increased by 10.7% (16.2% increase in local currency), Europe increased by 49.2% (48.3% increase in local currency), Asia Pacific increased by 54.3% (71.9% increase in local currency).
The gross margin increased to 69.1% in Q1 2014, compared with a gross margin of 65.6% in Q1 2013.
EBITDA increased by 45.7% to DKK 937 million for the quarter, corresponding to an EBITDA margin of 36.1%, compared with an EBITDA margin of 32.1% in Q1 2013.
EBIT was DKK 887 million for the quarter, an increase of 48.1%, corresponding to an EBIT margin of 34.2%, compared with an EBIT margin of 29.9% in Q1 2013.
Net profit for the quarter was DKK 704 million, compared with a net profit of DKK 438 million in Q1 2013.
Free cash flow was DKK 1,049 million in Q1 2014 (including an extraordinary VAT repayment in Germany of DKK 259m) compared with DKK 406 million in Q1 2013.