Pandora_Annual_Report_2018

Revenue 2014 2015 2016 2017 2018 EBITDA margin 25,000 20,000 15,000 10,000 5,000 100 80 60 40 20 DKKm % 11,942 16,737 20,281 22,781 22,806 36.0% 37.1% 39.1% 37.3% 32.5% P A N D O R A A N N U A L R E P O R T 2 0 1 8 C O N T E N T S T H E B I G P I C T U R E 4 112 million pieces of jewellery crafted 1.7 billion stones used 22.8 DKK billion in revenue 5.9 DKK billion returned to shareholders 32.5% EBITDA margin 100% gold grains recycled 88% silver grains recycled REVENUE AND EBITDA MARGIN (DKKm and %)