RTTNews | May 4, 2021 03:12AM EDT

03:11 Tuesday, May 4, 2021 (RTTNews.com) - Pandora (P) reported first quarter revenue of 4.5 billion Danish kroner compared to 4.2 billion kroner, prior year. Organic growth was 13%, for the quarter. EBIT margin rose to 20.1% from 15.3%, driven by operating leverage. For 2021, the company upgraded guidance for organic growth to above 12% (previously, above 8%) and EBIT margin guidance to above 22% (previously, above 21%).

The Board of Directors of Pandora has decided to launch a share buyback programme, under which the company will buy back own shares of a maximum consideration of 500 million Danish kroner in the period from 5 May 2021 to 13 August 2021. Pandora said the purpose of the programme is to reduce its share capital and to meet obligations arising from incentive programmes.

Read the original article on RTTNews ( https://www.rttnews.com/3191055/pandora-upgrades-2021-guidance-based-on-the-strong-q1-launches-share-buyback.aspx)

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