110• PARENTCOMPANY FINANCIAL STATEMENTS
PANDORAANNUAL REPORT2014
NOTES FOR THE
PARENT COMPANY
INVESTMENTS IN SUBSIDIARIES
3.1
DKKmillion
Investments in subsidiaries
Cost at 1 January 2014
2,215
Additions
119
Additions relating to share-basedpayments
33
Cost at 31December 2014
2,367
Cost at 1 January 2013
2,070
Additions
116
Additions relating to share-basedpayments
29
Cost at 31December 2013
2,215
Subsidiaries
Registeredoffice
PANDORA doBrasil Participações Ltda.
Brazil
PANDORA Jewelry Ltd.
Canada
PANDORAVentures Canada Ltd.
Canada
PilisarApS
Denmark
PANDORA Int. ApS
Denmark
PANDORA Eastern EuropeA/S
Denmark
PANDORA JewelryCentralWestern EuropeA/S
Denmark
PANDORA JewelleryDMCC
Dubai
PANDORA FinlandOy
Finland
PANDORA France SAS
France
PANDORA EMEADistributionCenter GmbH
Germany
PANDORA JewelryAsia-Pacific Limited
Hong Kong
WorldMax InternationalTrading Limited
Hong Kong
PANDORA Jewelry Shared Services CEE Sp. z.o.o.
Poland
PANDORA SwedenAB
Sweden
PANDORA ProductionCo. Ltd.
Thailand
PANDORA Services Co. Ltd.
Thailand
PANDORA JewelryMücevherat Anonim
Ş
irketi
Turkey
PANDORA JewelleryUK Limited
UK
PANDORA Jewelry Inc.
USA
See notes 5.1 and 5.6 to the consolidated financial statements for details onbusiness combinations, ownership anddate of investment.
