Pandora A/S reported un-audited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenue of DKK 2,002 million compared to DKK 1,424 million, operating profit of DKK 599 million compared to DKK 353 million, profit before tax of DKK 541 million compared to DKK 412 million, profit attributable to equity holders of DKK 438 million or DKK 3.4 per diluted share compared to DKK 338 million or DKK 2.6 per diluted share, cash flow from operating activities of DKK 645 million compared to DKK 137 million, purchase of intangible assets of DKK 218 million compared to DKK 6 million and purchase of property, plant and equipment of DKK 28 million compared to DKK 15 million for the last year. EBITDA increased by 60.3% to DKK 643 million compared to DKK 401 million and EBIT was DKK 599 million compared to DKK 353 million in last year. Free cash flow was DKK 406 million in compared to DKK 118 million in first quarter of 2012.

Pandora A/S, Q1 2013 Earnings Call, May 14, 2013

PANDORA announced that Allan Leighton, current Chairman of PANDORA, will succeed Bjørn Gulden as CEO on July 1, 2013. Bjørn Gulden will be stepping down from his role as CEO of the Company to join PUMA as CEO. The Board of Directors will recommend that Bjørn Gulden continue to be part of the Company by joining the PANDORA Board of Directors as a board member. Marcello Bottoli, who is currently Deputy Chairman, will succeed Allan Leighton as Chairman of the Board.