Pandora, the Danish jewellery company which has based its success on bracelets and charms,  recently announced its financial results for the year gone by saying, “In 2014, Pandora delivered a solid performance in revenue, margins and cash flow, which all exceeded full year expectations. Strong revenue growth was seen across all major regions”.

Group revenue in 2014 was DKK 11,942 million as compared with DKK 9,010 million in 2013, registering a growth of 32.54%. Marketwise, the Americas showed an increase of 19.3% (20.6% increase in local currency); Europe grew by 41.1% (38.8% increase in local currency); and growth in Asia Pacific was the strongest at 53.5% (58.1% increase in local currency).

Gross margin stood at 70.5% in 2014 compared with 66.6% in 2013. EBITDA increased by 49.0% to DKK 4,294 million and the EBITDA margin was 36.0% in 2014 compared with 32.0% in 2013.

Pandora’s net profit of DKK 3,098 million in 2014 compared with a net profit of DKK 2,220 million in 2013 was higher by 39.5%. The company’s free cash flow also showed a healthy growth and stood at DKK 3,868 million in 2014 compared with DKK 1,956 million in the previous year, marking an increase of 97.75%.

In 2014, the company had completed the buyback of 5,875,257 shares corresponding to a purchase price of DKK 2,400 million and an average purchase price of DKK 408.5.

In 2015, Pandora plans to buy back additional shares to a maximum consideration of DKK 3,900 million.

The excellent results combined with the news of the proposed buyback saw Pandora’s shares climb by 18% on Tuesday.