Pandora stock rises as CEO says firm wants to pivot from silver
Pandora, the world’s largest jeweler by volume, rose in morning trading on Thursday after the company voiced concerns about investors’ dependence on silver.
Copenhagen-listed shares rose as much as 7% after its quarterly earnings report forecast largely flat organic growth in 2026 and said it would launch platinum-plated jewelry after 2019 prices. silver It more than doubled last year. Shares were last traded up 5.5%.
“If you look at the volatility of silver, one of the things we need to do is [do] The company needs to separate this from silver trading, Berta de Pablos-Barbier, the company’s CEO, told CNBC’s “Squawk Box Europe.”
“Changing our basket from new metals will help us because we won’t be so dependent on one metal, which is silver today,” he said, adding that about 60% of Pandora’s business today is silver.
While spot silver was down nearly 9% at around $80 an ounce early Thursday, it is still up more than 150% from around $30 an ounce a year ago.
The Danish jeweler has been under pressure and analysts have warned that the volatility of silver prices is a “detrimental problem” for the company. A more pressured consumer also affected sales.
This year, Pandora expects organic growth to fall somewhere between minus 1% and 2% and its profit (earnings before interest and taxes) margin to be between 21% and 22%..
De Pablos-Barbier, who took over as CEO last month, told CNBC that switching to platinum-plated material and expanding its portfolio will allow the company to keep margins in the 20s.
The jeweler recorded 6% organic growth in 2025. It was announced in JanuaryIt was down from 13% the year before and missed its own guidance of 7% to 8%.
