The economic outlook for 2024 continues to remain uncertain. Continued inflation and still high interest rates suggest another challenging backdrop for consumers across many markets. Pandora will continue to execute on its Phoenix strategy which has yielded consistently positive results despite the challenging backdrop over the past two years but remains mindful of the uncertain macroeconomic environment. Therefore, the guidance for 2024 considers the external environment, Pandora’s own specific Phoenix initiatives and current trading to form an initial range.
Pandora is currently targeting organic growth of +6% to +9% and an EBIT margin of around 25%. The low-end of the guidance accounts for a worsening of macroeconomic conditions relative to that being witnessed today.
For further details, please refer to Pandoras Q4 report for 2023, page 16: find it here.