Pandora's shift to platinum cheers investors

Pandora A/S

05/02/2026 08:34

** Shares in Pandora PNDORA.CO rise 6% after the Danish jewellery maker announced its 2026 guidance and new product strategy

** It expects sales to grow between -1 to +2% in 2026 and sees EBIT margin of 21-22%

** Jyske Bank says in a note that while the forecast is slightly below expectations, the market may have feared a worse outcome following the weak finish to 2025 and rising silver price

** The group also plans to introduce platinum-plated jewellery to distance itself from the volatile silver market after a historic surge in the price of the precious metal

** Sydbank analysts note that while sharply higher silver prices – assuming USD 82/ounce - with no mitigation actions would have a negative impact on Pandora's earnings (EBIT margin) of 11 percentage points beyond 2026, the use of alternative materials, including the launch of platinum‑plated jewellery, reduces that risk

** "Over the medium term (which we estimate as 2029), Pandora expects to be able to deliver an operating margin above 21%," Sydbank adds

** The stock is among best performers on STOXX 600 .STOXX index

 (Reporting by Izabela Niemiec)

 ((izabela.niemiec@thomsonreuters.com))