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BRIEF-Pandora to almost triple dividends in 2017, Q4 in line with forecast
February 7, 2017 / 7:01 AM / 10 months ago

BRIEF-Pandora to almost triple dividends in 2017, Q4 in line with forecast

Feb 7 (Reuters) - Pandora :

* Q4 EBITDA 2,711 million DKK versus 2,711 million seen in reuters poll

* Q4 revenue 6,602 million DKK versus 6,715 million seen in Reuters poll

* Q4 net profit 2,093 million DKK versus 1,959 million seen in reuters poll

* Says from 2017, Pandora proposes to supplement ordinary dividend with three extraordinary quarterly dividends

* Says board of directors proposes to return dkk 4.0 billion in dividend in 2017

* This includes an ordinary dividend of DKK 9 per share and additionally three extraordinary quarterly dividends of DKK 9 per share in relation to Q1 2017, Q2 2017 and Q3 2017

* In total, PANDORA will pay out a total of DKK 36 per share in 2017 vs DKK 13 for 2016

* Says 2017 revenue is expected to be in range of DKK 23-24 billion

* Says EBITDA margin in 2017 is expected to be around 38 pct

* Says EBITDA margin is expected to be significantly lower in first half of 2017 compared to second half

* Says for 2017, EBITDA margin is anticipated to be negatively impacted by around 0-1 percentage points from higher commodity prices

* Says Pandora currently expects only single-digit revenue growth in Q1 2017, due to timing of shipments and a very strong performance in q1 2016

* Says capex for year is expected to be around 5 pct of revenue

* Says in 2017, Pandora plans to continue to expand store network and expects to add more than 275 new concept stores during year of which roughly 50 pct are expected to be opened in EMEA, 25 pct in Americas and 25 pct in Asia Pacific

* Says board of directors of Pandora has decided to launch a new share buyback programme in 2017, under which Pandora expects to buy back own shares to a maximum consideration of dkk 1.8 billion

* Says expects a full year tailwind effect from currencies on revenue of around 1 percentage point compared with 2016 Source text for Eikon: Further company coverage: (Reporting by Stine Jacobsen, editing by Terje Solsvik)

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