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NOTES
84 • Consolidated financial statements
PANDORA ANNUAL REPORT 2016
SEGMENT INFORMATION
PANDORA’s activities are segmented on the basis of
geographical areas consistent with the management
reporting structure.
The operating activities of the group are divided into
3 operating segments: Americas, EMEA and Asia Pacific.
Each operating segment comprises wholesale, retail and
e-commerce business activities relating to the distribution
and sale of PANDORA products.
The financial reporting structure was changed compared
with 2015 to reflect the performance of the operating
segments monitored by Group Management.
All segments derive their revenue from the types of
products shown in the product information in note 2.1.
The Group operates with two performance measures with
EBITDA as the primary performance measure and EBIT as
the secondary performance measure.
Management monitors the segment profit of the
operating segments separately for the purpose of making
decisions about resource allocation and performance
management. Segment results are measured as EBITDA,
corresponding to “operating profit” in the consolidated
financial statements before depreciation, amortisation and
impairment losses in respect of non-current assets.
EBIT as a performance measure is only measured at
Group level.
Income statement
Total
DKK million
Americas
EMEA Asia Pacific
Group
2016
External revenue
6,852
9,556
3,873
20,281
Segment profit (EBITDA)
2,503
3,996
1,423
7,922
Depreciation, amortisation and impairment losses
-518
Consolidated operating profit (EBIT)
7,404
2015
External revenue
6,537
7,548
2,652
16,737
Segment profit (EBITDA)
2,239
2,927
1,048
6,214
Depreciation, amortisation and impairment losses
-400
Consolidated operating profit (EBIT)
5,814
2.2
SECTION 2: RESULTS FOR THE YEAR, CONTINUED