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PNDORA: Solid Q3 growth and margins maintained amid headwinds; 2025 guidance and CEO transition confirmed

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Q3 2025 saw 2% like-for-like and 6% organic growth, with gross margins near 80% despite significant headwinds. Guidance for 2025 organic growth remains 7-8%, EBIT margin at ~24%, and a CEO transition is underway. Strong U.S. and Rest of Pandora growth offset mixed European results.

Based on Pandora A/S [PNDORA] Q3 2025 Audio Transcript — Nov. 5 2025

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