No. 63

COMPANY ANNOUNCEMENT

8 August 2012
 

 

We have determined an error in the section Gross Profit and Gross Margin on page 14 of Company Announcement no. 62 of 7 August 2012.

 

The correct section reads:

 

Excluding PANDORA's hedging and the time lag effect from PANDORA's inventory, the underlying gross margin would have been approximately 69% based on average gold (1,601 USD/oz) and silver (29.23 USD/oz) market prices in Q2 2012. Under the same assumptions, a 10% deviation in quarterly average gold and silver prices would impact PANDORA's gross margin by approximately 2.5 percentage points.

 

which section replaces the incorrect section that read:

 

Excluding PANDORA's hedging and the time lag effect from PANDORA's inventory, the underlying gross margin would have been approximately 66% based on average gold (1,579 USD/oz) and silver (35.48 USD/oz) market prices in Q2 2012. Under the same assumptions, a 10% deviation in quarterly average gold and silver prices would impact PANDORA's gross margin by approximately 3 percentage points.

 

 

CONTACT

For further queries, please contact:

 

INVESTOR RELATIONS Morten Eismark, VP Group Investor Relations Phone +45 3673 8213 Mobile +45 3045 6719

MEDIA RELATIONS Kasper Riis, VP Group Communications Phone +45 3673 0627 Mobile +45 3035 6728